Like other people said, connections and interning is most important. The school is still useful, but its really only a means to get you an internship and meet people. If you have local studios in your city, try to find out either directly or indirectly if there's a particular school they tend to hire from. I know in Toronto, Revolution Recording and Noble Street Studios tend to hire their students from OIART.
But yeah, it is not an easy field and there is only room for people who work hard. You'll be interning for a while, soaking in as much info as you can. You might not even be paid the first couple of months. Your goal from there is to become a runner (setting up recording room, booth, running cables etc.), then assistant engineer and then maybe engineer. I say maybe because a studio only needs so many engineers. A position may open up, a position may not. It's a tough path, though very possible. But like all fields with limited demand and lots of candidates, there's really only room for the best and hardest workers.
That said, don't take the "best" part too seriously. You don't have to know everything. When you finish school, you'll have the basics but you really won't know shyt. Most studios will know this and be cool about it because like every job, you learn 90% of the job on the job. Just have a good attitude, take initiative and with a little bit of luck you'll do good.