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Now that really depends on exactly how good your contact is/was, right? :)
I think this depends on the position of your contact at the firm and your relationship with the contact. Even if your contact is at a very senior position at the firm, you might not be treated royally if your relationship with the contact is very distant.
@OP, are you talking about it in the sense that it is more difficult to get a PPO when you enter a firm through a contact, or the other way round?
At Trilegal, they had a policy of not even paying "contact-based" interns. It was very unfair, I'm sure the associates also do not give much time/effort to them (and thus reducing recruitment chances), which is unfair.