If you look at your friends list in Facebook, you see that some of them have information about themselves under their names, e.g.:
Works at Google
If you were to look at that person’s profile->info, you’d see that they have Google marked as employer. Sometimes people have their university or school listed below their name.
I can’t figure out how Facebook chooses what to use under somebody’s name in a friends list.
Some people have nothing (me included). I have an employer listed, university listed, and school listed. Facebook doesn’t decide to show any of these under my name when I look in my friends’ friends-list though. I’m a blanker.