I started out in a different time--no experience needed (20 years ago). I think today that most large national services want you to be very familiar with the AHDI Book of Style and to know when to leave a blank and not guess if you don't know.
You will almost certainly have to test with any company who is interested in you, regardless of the amount of experience you have. There are a lot of places that don't take newbies, but there are some who do if you can pass their test.
Find out if your school has an affiliation with a transcription company--many do, because they are familiar with their graduates and know they have the skills and knowledge needed to do the job.
When you get your first job, expect a lot of correction and criticism (that is regardless of whether you are a newbie or not). If they expect you to be perfect I wouldn't want to work there--even people with many years of experience aren't going to be perfect. Your employer has their way of doing things and it may not be the way you were taught.
Finally, if you get a job, don't expect to make much money if you are being paid by the line. It will take awhile to build up your knowledge and speed and familiarize yourself with the dictators before you can make decent money. Hopefully they will pay you by the hour for a while until you get more experience.
Good luck!
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kkb (Karyn), who considered herself a newbie after 18 years doing MT and even though she is no longer working in the field, still remembers what it was like to be a newbie!