If you were a graduate employer what would you prefer (all other things being equal):
3rd from Cambridge or 2:2 from East Anglia or 2:1 from Reading or 1st from Bradford?
Have picked the above at random, this is not a real life problem. There are roughly 20 places between each university on the CUG league table.
Or this one:
2:2 from Cambridge or 2:1 from East Anglia or 1st from Reading?
Let's assume the degree is in an area of relevance, e.g. IT employer and a Computer Science graduate.