I think it is one of those impossible questions. Imagine for a minute, I am trying to sell you an inflatable rubber boat for $100,000 - would you buy it? (probably not if you are sane). Now imagine, 10 years later you are on board of Titanic. Now is that rubber boat for $100K a good investment? (YES, it most likely is). Now it is 10 years later again, would you buy another rubber boat from me? Probably not.... it really depends on the situation you in and if you have not bought the boat from me on board of Titanic, you probably would not be around.
By the time you are in mid 30's-40's and when you are reaching the VP levels, it does not matter which BSchool you went to on paper. It may still mean quite a bit when you get an offer from an HBS grad to be his right hand man and my wild guess will be that there are a lot more HBS grads at the top than Pepperdine.
The only people that school does not matter to are those who will be at the very top regardless of their school or at the very bottom. If you don't stand out, I'd say it will be very helpful for growth and networking. If you are planning to work for the same company for a long time or run a family business, perhaps not. But going to Pepperdine is not the end of the world - you will learn quite a bit, just won't be able to rely on their Alum network which is greatly inflated by all the campuses they have.
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