Carrying a large amount of student loans is unwise, even reckless, for most students and their families. However, there’re some exceptions. IMO, there’re 2 schools in MA (MIT and Harvard), 2 in CA (Caltech and Stanford), and possibly 1 in NJ (Princeton) may be worth the gamble for families without the ability to cover their required contributions with no debt (sorry, Yale, you don’t belong in that group). For most students, especially ones who weren’t borne privileged, these schools do add significant values to their future careers.
^ Yale is fine if the goal is Wall Street. And, really, given the structure of the modern monetary system, Wall Street is not a bad place to be. If the Fed is going to simply print money as it has done for the last 50 years, you might as well get in the middle of it all and siphon off some for yourself!
Another thing that new graduates do not seem to take into consideration is the COL of where your job is. My DD and 2 of her friends all graduated with CS/CE degrees. My DD and another took large scholarships to nontop schools, with one paying full ride to a school in Boston known for tech. All got great job offers, California, Boston and Austin. The Austin job paid the least but due to COL, actually allows more money to be banked or to pay off those loans.
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Even for Wall Street, Yale isn’t quite in the same league these days. Certainly HFs, but even IBs are hiring more people in their quantitative and technology areas than in traditional sales and marketing, for fears of their business being disrupted by technologies. In any event, technologies will greatly reduce their intermediation fees in a not-too-distant future and positions that rely on these fees will either be cut or compensation will be reduced accordingly. Besides, half of those hired for investment banking and sales don’t even last beyond their first two years at the banks.
re post #103
Goldman’s retiring head of Technology recently said that future IBankers must learn to code, in order to be employable in the industry. The days of easily going from Ivy League schools to Wall Street are gone, unless you have a CS degree…
Yes. Salaries at my company are the same.
What’s not the same is bonuses and stock awards, though those are controlled tightly by approved, standardized ranges as well.
We take fair compensation very seriously.
Just an FYI: my bonus and stock on-hire awards are HIGHER than the Ivy league on-hire average here. Because I’m great. So. TMYK.
That is a rare situation in the business world. Most employers do not pay new hires more simply because they graduated from a “name school”. In many/most HR offices, the new hire salary is set. Sometimes there’s some wiggle room IF the new hire they want has a “better offer” from another company.
What type of company paid the new hire Brown new graduate $10k more? Can’t imagine any skill that a brown grad would have that would justify that unless again he/she had a better offer elsewhere and they really wanted him/her for some reason.
ITT: people confusing getting more $ because the candidate had a specific skill with the idea that the candidate got more $ because of the school name…
No. Throwing more $ at someone JUST because of school name would be a very poor business decision indeed.
It doesn’t surprise me that top tier graduates often also posses unique skillsets. That should shock no one. But in those cases, it’s those skillsets getting the $. Not the school name. That also means that non-tippy-top grads with that skillset (hi, it’s me) can also command super high $.
Anyway, more to the point of the thread, coming out of school with money in the bank was the best thing I’ve ever done for myself, and its positive affects are only snowballing from here. I think about what a good choice that was literally every day because it’s afforded me so much comfort and given me so many options in life. I can’t thank my 17 y/o self enough for not going into debt.
You could make them submit a printed NPC (signed by the parents) and upload that as part of their application 
Please note this thread is a year old. While the intent is still valid I will close.