Rankings are good indicatives (at best) of universities strengths with regards to faculties. But they can be somewhat misleading because it takes into account reputation, research papers and other intangibles which may not be limited to just academia concerns of the institution.
For example, NTU is ranked 11 but if you were to look at subject ranking (which i believe to be a more accurate representation and ranking), it loses out in almost every field of studies when compared to NUS. So i'd like to encourage everybody to stop swinging your dick around with regards to university rankings and instead focus on the QUALITY of your degree.
For big firms such as Jp morG, goldman, BCG, Bain etc, most of them only hire 1:1 students from top institutions around the world. From a singapore perspective (based on what my senior told me), to even stand a chance for an interview, you need a 1:1 if from NUS, Ntu and a summa from SMU (ceteris paribus).
To give a rough indicative on the strength of singapore degrees as compared to overseas, I'd say that a 1:1 from nus/ntu/smu would compare to a 2:1 from oxbridge, lse, ucl, kings, ivy league and ivy + schools. However all of this are open to different interpretations as companies have different perspectives on graduates from different institutions. Reputation supersedes rankings.
My ex's mum is a high ranking director in JP Morg and she says that they prefer overseas grad as compared to singapore grads because of exposure etc, while this is a specific example, it goes to show that different companies and organisations have different metrics on how they access candidate suitability.
My main concern is not about the strength of universities in australia (referring to ANU, Unimelb, usyd, unsw). It is the reputation and baggage which comes along with it. Perceptions on Universities will never be egalitarian, so there is bound to be disparity between perception of degrees around the world, resulting in a hierarchical, capitalistic environment for fresh graduates. Like it or not, substantial amounts employers perceive australia as big3 rejects. Regardless of the degree of truth to each individual case, that is a substantial amount of companies which views australia universities this way.
With that being said, for most companies, degree classification is more important than the university name on the PRECEDENT that the institutions are somewhat comparable in terms of academia (eg, nus to lse as compared to RMIT from SIM vs Nus).
Lastly, for the business industry, it is more friendly towards graduates from other countries as compared to smaller industries like the law sector. Law degree holders from oz have huge troubles securing TCS in Singapore. However, for business, it is easier to secure a job. However good or bad depends on your connections and of course grades in university.