Am in top aussie uni. People that made it into IB/GCM usually starts like this.

Big Four (Assurance/Corp Fin) (Year 1 or before Year 1) > FO/First boutique firm > (another) boutique firm > Summer Analyst > Return Offer

S&T usually have lesser internships. Most buy-side don't recruit straight out of college.

Do note that Sydney/Melbourne positions are way more competitive due to the sheer amount of applicants and limited places. If on 7.0 GPA scale, applicants generally have 6.something~ GPA and if on WAM, only a good Distinction and above would make you competitive. Especially if your an Asian male. LOL