<p>The idea that prestige really matters is total bs. </p>
<p>The important thing is what you do during undergrad, and then in the jobs subsequent to that. Besides, I believe that there are studies that have shown that the knowledge learned in 4 years of college is typically obsolete in 8 years or less. So I guess the MOST important thing is learning how to learn, I don't believe there are any measurables for that.
If you are letting the prestige of your undergrad institution carry (or not carry) you, then you are never going to go very far.</p>
<p>For one, as people have mentioned, LOCATION will make a huge difference as far as how people in the real world will perceive you. There are really very few schools with a national recognition, and no one besides the people on this board really cares/knows the difference in ranking between the two. And in some cases, the lack of name recognition can and will be startling. I'm willing to bet that the University of Nebraska (my alma mater) would generate more buzz in Wichita KS, or Oklahoma City, or Little Rock AK, than Swarthmore or most any of the other LAC's that people salivate over here, even though there is little debate over on this board over which school has more prestige. In fact, I'm sure that this is probably true most everywhere except for the Northeast. The big schools generate a lot of free publicity for themselves every weekend through big time college sports that these small LAC's outside the Ivy League can never ever muster. </p>
<p>Secondly, as I've mentioned, individual record is way more important. We live in a society that likes to believe it is a meritocracy. It's much, much more important to achieve individual honors to get you ahead than to rely on the honors/achievements of those who graduated before you from some school. If you outwork/outachieve someone than it isn't going to matter where you went to school. Warren Buffett doesn't seem to have let the fact that he went to Nebraska rather than Wharton get him down...</p>
<p>Really what it comes down to is that prestige is an artificial creation of these "top tier" schools...when one of the values in most ranking algorithms is selectivity the state schools of the world (with the exception of those in very populated states) are going to be a disadvantage. Further, because of the selectivity, these "prestigous" schools get to pick and choose the best of their applicants...the more prestigous the greater the number of applicants, the better applicant pool, the better the accepted student population. It then becomes a matter of who wants it more, who has the determination to start studying for the SAT as a freshman, take every last AP course, finish the thirty different applications, and fret hour after fruitless hour on the boards of CC. And when it's all done, I'm willing to bet that the overwhelming majority of "success" that people here attribute to a school has much more to do with the student population, than with the actual school itself. In other words, the population of this school had to be so driven to get to that school in the first place, that they are also much more likely to be driven to succeed in the work place - the school did nothing but separate them out and label them, and the school reaps the rewards of their success.</p>
<p>There is probably more I could right, but this ended up way longer than I imagined...someone is probably going to rip it apart, but whatever...I've said my piece.</p>