<p>I think we are greatly overcomplicating Wash U’s “lack of prestige,” or at least the lack of prestige it suffers from among students (but not necessarily academia or employers). Wash U is a newcomer, it’s that simple. Like someone said before, the acceptance rates among top schools just a couple of decades ago was massive. Back in the 60s and 70s (or thereabouts) UChicago was considered a bad school, suffered a lot of financial problems and had an acceptance rate in the 80 percent range. Now it’s one of the best schools in the country. Every school’s was higher and has decreased. </p>
<p>Wash U, I think is similar to Northwestern and UChicago in that sense, just about 20 years late to the game. I think that they have certainly solidified themselves in the top 10/top 15 rank nationally, and they are now seriously attracting the nation’s top students by maintaining a classy, all business image and hiring a ton of extremely accomplished professors (hence their exceptionally small class sizes and very high tuition, which also funds expansion). Academically Wash U is absolutely capable of running with the Ivies and their students prove it (for example, Wash U’s Olin b-school has the highest average incoming SAT scores of any undergraduate business school).</p>