What's more important in recruiting, school vs experience?

Just curious, what's actually more important? I come from a low semi-target/very strong non-target with a fair few alumni in banking, but nowhere near LSE/UCL/Imperial etc. Last year I did fairly well in getting interviews and AC's (maybe 10+ interviews, 5 assessment centres/final rounds, 2 of which were CIB front office positions at BB banks, 1 FX sales at a Japanese investment bank), but this year I've only had one first-round interview, zero AC's. This is with an investment banking internship from a BB bank under my belt... Some banks (CS) even autorejected me hahahaha. I'm very lucky to have been able to have gotten an offer for another internship at the bank I interned in this summer, but it got me thinking a bit ... Why is it that there are students from stronger IB targets with weaker experience getting multiple interviews and offers, whilst I've had such terrible luck this time around ... Does experience > school, or not really?

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