Sorry OP to derail your thread. However I take issue with Bubbles bald assertion that many people think all degrees in a single subject are the same. The research I linked to is confirming that pre-University factors such as school results, background etc, have the most influence, but that some Universities appear to provide more value added. And the ones that do, are quite a mixed bunch.
I also think she is wrong with "If you need remedial classes, this alone would suggest the bright lights of a merchant bank might be out of reach. Obviously a first in PPE from Oxford should trump anything from Portsmouth in the job market." I have never been able to work out whether Bubbles has a banking background, but I suspect not. DH, who did study PPE at Oxford, is rarely surprised at people's backgrounds, (the joys of Linked In), and indeed recently had a boss who studied Bournemouth University, ranked fourth in that table, but much lower elsewhere. University is useful for getting your foot in the door, but after that the wider skill set comes into play. So study banking and finance at Portsmouth, then get a back-room operations job with a major bank in Southampton and from there get a tranfer to London.
OP is right. Rat race banking jobs are only for a minority, and I am glad neither of my DC wanted to head in that direction. Some professions rely on technical knowledge gained at university, and for some, including those where post-graduate qualifications are the norm, the quality of the first degree, and the ground covered, can matter. But for many, University will be a way of improving and enhancing the skill set you started off with, both professional and personal. Studying abroad could be a good start.