Chief financial officers polled recently were split regarding how much weight the prestige of a candidate’s alma mater should be given in hiring decisions. Fifty-one percent of respondents felt the stature of an institution was very important or somewhat important, whereas 49 percent said it was not important at all.

"Because many entry-level candidates have little professional experience, hiring managers often consider non-work-related factors, such as the quality of the applicant’s formal education," said Max Messmer, chairman of Accountemps. "But learning extends beyond the classroom -- valuable skills and knowledge also are gained through extracurricular activities, internships and jobs held during college."

Messmer said employers should avoid letting a single factor, such as where an applicant went to school or which internships he or she completed, carry disproportionate weight in the evaluation process. Equally desirable are a strong work ethic and the ability to adapt quickly to new environments, he said.

The survey includes responses from more than 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.