The effect after law school also goes on a sliding scale. The higher the rank, the lower your grades and class rank can be to still have a good shot at a job. Go to Harvard and you can still get a high paying big law job with a C average. Go to a 3rd/4th tier school and you better be in the top 5% if you want a big law job. 2nd tier might let you get away with being in the top 10%.

Pay goes with the job, not really what school you go to. Employers don’t normally give differing salaries based on things like what school you went to or what your class rank was. Any minor variance in compensation will be due to your own negotiation skills.