<p>[Finance</a> Department - The Wharton School of the University of Pennsylvania](<a href=“http://www.wharton.upenn.edu/faculty/acad_depts/fncedept.cfm]Finance”>http://www.wharton.upenn.edu/faculty/acad_depts/fncedept.cfm)</p>
<p>Rank University #PhD</p>
<ol>
<li> Chicago 12</li>
<li> MIT 6</li>
<li> Harvard 4</li>
<li> Princeton 3</li>
<li> Minnesota 3
6.5 Berkeley 2
6.5 Duke 2</li>
</ol>
<p>Stanford
Oxford
Tel-Aviv
Rochester
Texas A&M
Wharton</p>
<p>What are my points (in case you have not got my points yet):</p>
<ol>
<li><p>Graduate schools, especially top ones, know what college produce top students. So placement into top PhD programs or professional schools is a good proxy (not perfect) for quality of college. </p></li>
<li><p>PhD placement is a good proxy (not perfect) for quality of PhD programs.</p></li>
<li><p>One needs to go to a top college in order to attend top grad or professional program.</p></li>
<li><p>Top colleges are not necessarily those ranked high by US News. US News ranking is considered by many top professors as a biased estimator for quality of education.</p></li>
<li><p>It is possible for a person from a not well-known college to attend a top program. But it is rare.</p></li>
<li><p>Similarly, it is possible for a PhD student from a not well recognized program to find a great academic job. Again, it is rare.</p></li>
<li><p>If you want to go to a top grad or professional program, it is better to attend one of the colleges as recognized by the experts, not by a bunch of journalists who know little about the market.</p></li>
</ol>