One of my favorites about school vs practical experience:
A newly graduated engineer starts up at a small naval architecture firm and the owner/founder says to him upon his arrival: "The shop is looking a bit messy please sweep the floor, the broom is over there." the guy replies indignantly: "What? I'm an engineer with a degree from (Insert school here, in the story it was Univ of New South Whales in Aus)". To which the owner replies: "Oh, so I need to show you how to use the broom...."