Chances of employment for a candidate definitely evolves around the "total package". School alone will not get you hired, but a big name school on your resume can catch the eye of a recruiter or a physician looking at a stack of resumes with similar qualifications. That could get you an interview. Who gets hired? it depends, it could be the candidate with desirable background experience, the one with excellent communication skills during the interview, or the one who is smart enough to answers any clinical questions asked during the interview.
In any case, NP students are best served by networking early. Regardless of where you went to school, a big part of your future career is making it known to prospective employers
that you are in school to be a nurse practitioner. It can be physicians who round in the hospital you work in, it could be other NP's who could give you leads to where jobs are after you graduate. You just have to get out there and be aggressive. Schools can be overlooked by employers if you could make up by being stellar in the other factors above.
I actually graduated from a school I consider in the 2nd catergory (based on the qualities I mentioned). It got brought up during the interview and it made for some banter with the physicians interviewing me because a number of them went to med school and residency there and a few are actually faculty members. That alone didn't get me hired. I like to think I did well on the interview and my experience in nursing was felt to be valuable to the employer.
Now that I've moved on the opposite coast, very few people know about my school and now it's probably on the 3rd category here (luckily the chief of the ICU who interviewed me knew about it!). During my interview here, the main focus was what skills I bring to the setting and the 5 years as an ICU NP in my previous state sealed the deal for me.