I think regardless of what music school you go to, whether you get a job/audition is down to three things, in this order:
1 - Personality
2 - Networking/connections
3 - Whether you can actually play or not!
Obviously if you can't play a note, you're not going to get hired, but i guarantee that you'll get further then if you can play 64th note walking jazz lines...but you're an asshole!
I didn't go to any Bass music schools (A-level music thats it....on bass), but i'm gigging a lot more then some really awesome players i know, mostly because i think i'm easy to work with, i talk a lot to people, and i'm not a bad player! Certainly not the best quite obviously. I think it's the same with any art based subject, while you're studying the theory and application, others are out doing it and getting the jobs!
I considered enrolling in BassTech a few times, but so many people i know come out of those schools playing/sounding exactly the same, i like where my playing style and sound is going, don't want to stifle that.
Having said that, it is healthy to surround yourself with musicians who are better then you, it aids the learning process, what i try to do with all my projects!!
Si