It REALLY depends on the size of the firm. From my experience, the smaller, the fairer. This means the actual quality of the work you produce will matter more and it will speak for you.This is different in bigger companies with massive graduate schemes. At the most junior ranks, the work you have to do is sliced up so fine that sometimes there's no way to shine other than not going home early and accept anything with a smile. In this case, since the work can't differentiate you, people will focus on just blowing their own trumpet, sucking up to managers and senior managers, gossiping and all that crap. Also, consider that the table can be tilted by a number of other factors such as1 - being posted on remote jobs Monday to Friday straight from day one and for months (this means that you won't be able to build your network or be known)2 - inflation/deflation of performance ratings. I remember some projects seemed to give too many top notch 5/5 reviews to their analysts and consultants, someone high up noticed and artificially capped the maximum rate at 4/5. How nice to land your first project as a young gun and be told that, no matter how hard you try, you can't get the best review?3 - connections, favoritism, nepotism. There's a great many stories of partner offspring being ushered in without having to do part of the interview process, having first dibs on projects and the like. Again, the bigger the company, the higher the chance.4 - the development manager you get given (i.e. your mentor): this is also a massive factor of uncertainty and asimmetry.