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<p>That is definitely not true at MIT and most likely not true at Caltech, Harvard and Princeton. At MIT over one third of all math majors or over 100 students participate in the Putnam. If you remove the double majors, the number is closer to 50%. 30-50% is no small number and certainly not the exception. </p>
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<p>Well, that is precisely the point isn’t it! Strong math students who do select MIT, Harvard, Caltech or Princeton are the ones willing to measure up to the best. They do expect top notch faculty that will be able to challenge them. Their undergrad education is qualitatively very different from that of math students at nearly all other schools.</p>