<p>Yeah, grad school is going to be free for virtually any Caltech student going into a math, science, or engineering field. Really the only variable is going to be whether you're sweating out a $12K a year stipend TA-ship at a stingy school or land one of the big fellowships like NSF, which will pay you the comparably luxurious sum of $30K or so, with no work required.</p>
<p>It's hard to quantify or give you some sort of data about the advantages of Caltech for grad school admissions. I can only say that I don't know of a single person who wanted to go to grad school and didn't get into at least one good program in their field. This even includes the other <em>history major</em> from my class who was admitted to a top-10 medieval history PhD program.</p>
<p>Just anecdotally, of my immediate group of friends from the Class of '04:</p>
<p>1) In the Physics PhD program at Harvard.</p>
<p>2) Went to Columbia for some sort of financial engineering master's; now works on Wall Street.</p>
<p>3) Started the Stanford EE PhD program, leaving this year with his master's to go work on Wall Street. (Money is tempting.)</p>
<p>4) Went straight to work in EECS at MIT Lincoln Labs; intends to go to grad school eventually.</p>
<p>Of my immediate group of friends from the Class of '05 and '06:</p>
<p>1) Deferred admission to Harvard Planetary Science PhD program to go work in London and DC for a year. Starting the PhD this fall.</p>
<p>2) Mechanical Engineering PhD program at Berkeley.</p>
<p>3) Physics PhD program at Berkeley (this one and number 2 are in a relationship so they needed to stay together).</p>
<p>4) Joint MIT/WHOI PhD program in Oceanography.</p>
<p>As for me, I started the Aerospace Engineering PhD program at Michigan (there were some personal factors involved, and I had an understanding with my advisor that I might leave after just a year because I hoped to go overseas; I had outside funding so I wasn't a burden on the department, and they were pretty OK with that), left with the master's to come here to Oxford for a couple of years to get another master's for fun and enjoy Europe, and I'll probably be back at Caltech to finally get that PhD starting in 2007, knock on wood. Maybe Stanford, Michigan, or Princeton, but likely Caltech. It's between those four anyway.</p>
<p>I felt like I had every option in the world open to me coming out of Caltech and I quite honestly have to give the school a large portion of the credit for that. I was able to develop personal relationships with some of the top people in my field, get really great research experience, and had instant credibility. In my particular field (fluid mechanics) it so happens that a good fraction of the current professors at the leading universities came out of the Caltech right around the same time (several staying right there), so through them I pretty much had an entree into whatever lab group I would've wanted. Now, I personally feel pretty lucky that what I like to do lines up so specifically with what Caltech was so good for, but I've heard enough similar stories from friends to believe that it's a reasonably common experience.</p>
<p>In my class, there were 7 Aeronautics majors. 6 went on to PhD programs (2 to Stanford, 2 to MIT, 1 to Purdue, and then my wild ride through various institutions) and 1 had no interest in that and went straight off to... Lockheed, I think.</p>