Well, this can be a long drawn out subject or it can be short and sweet. It's all in how you take it I guess. The music industry can be a very painful industry. It's not about how good you are, it's about who you know. I know this first hand. I do Audio Engineering as a profession and went to school for audio also. I'm going to try and do this without name dropping too much.

Let's face it, if you do not know somebody that is in with the label you want to get in with, you will have a very hard time. I know guys who worked as janitors for labels for a long time before they were ever allowed to even SIT in on a session(a joe dirt style story huh, it's true though). I know guys who are hooked up with the same label KMK is on. One of the guys who engineers there if not mistaken, slept on couches for a long time before he went anywhere.

I work in the Live Sound side of the industry, I have seen people get jobs that do not have any sort of work ethic what so ever. Again, all because of who they know. I'm not saying that you have to know somebody, but, it is a HUGE part.

I am a firm believer in the fact that you can do anything you want in this life. That is the beautiful thing about it! If you perservere at anything you do, you will sooner or later be a success. If you get shot down by a label don't stop there and don't let it get you down(They will be very blunt with you, have you seen Simon on American Idol?). These guys are working with a lot of money and won't hesitate to tell you that you are not worth their investment.

Always remember:
"The future belongs to those who believe in the beauty of their dremas."-Eleanor Roosevelt

Good Luck!