I studied in a old NIT and didn’t get good placement this year , has my efforts to get a good college gone to waste?

It’s not due to lack of skills if anyone thinks so, for I was placed initially with a big package and when time for joining came they revoked my offer. I have a job now but it pay far less than what most of my classmates who are far less skilled get. I just want to know if college will play a part in the future job opportunities or do I have to work my way up again ?