A resident asks if the relative prestige of the training program matters when looking for a job.

If you’re looking for a job at a prestigious academic institution, or in a very competitive area such as New York City or are competing for a fellowship spot, I think that it is worthwhile to be at a top-rated residency program. Otherwise, I rarely have employers asking me for graduates from the top-rated residency programs. Most employers such as hospitals and rehab companies don’t even know which residency programs are ranked best.
Private practices typically don’t have a preference for residents from top-rated residencies. I don’t see more job offers to graduates of top-rated residencies. I also don’t see graduates from top-ranked residency programs commanding higher compensation. I more often hear of a preference for a resident because he/she came from the same residency program as the employer.
Employers most often prefer residents who have a connection with their area. It can be through family, the residency program being in the same state, hobbies that match the area’s features, etc. Employers want a doctor who will stay for the long-term and doctors who are familiar with the area tend to stay longer.