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That depends a lot on what your degree is and how well you sell it's relevance pst graduation.
Indeed. It has a lot to do with that and about a dozen other things. Degree. Job field. Connections. Experience. Personality.
I have a general comms degree and an MA in digital media. These degrees and my job field are extremely broad, so I have experience in loads of different things. As such, I can apply for any job from digital marketing to public relations to a press officer and have a shot of at least getting an interview. I've never had a shortage of knowing people in my industry who would be willing to write me a letter of recommendation or give me a referral where they work. I've gotten one of my colleagues hired at two separate places that I have been a manager.
But to add on to that, I interview well and have a very relaxed and jovial personality. I work well with others and make friends easily. I can't count how many times there have been interoffice issues where an independent consultant had to come in and mediate or get to the bottom of an HR problem and it would turn out that I'm one of the only people in a division that not a single person had a conflict with.