<p>I don’t think that regional bias alone explains for the mystique of the ivies…first of all, a lot of kids from all over the country and the world want to go to Ivy league schools, so it isn’t just provincial. That said, such schools exist all over the country, an obvious one with mystique is Stanford; there also are schools like Duke that have the high reputation as being a ‘top schools’, and folks from Texas will tell you that Harvard is the “Rice of the East Coast”, and so forth…</p>
<p>Are the ivies all they are cracked up to be? Yes and no. Because they have the mystique, they tend to draw from a large, large pool of applicants, and many of these are high performers, so instead of a handful of kids with perfect SATs, Intel science talent search awards, etc, they have a lot of them. The difference between an Ivy and a top notch school ‘not an ivy’ is that they may simply because of mystique not get as many “incredible level” applicants…</p>
<p>The other thing to keep in mind that colleges are not universally great or bad in all things. In Engineering for example there are plenty of engineering schools whose reputation and ratings are higher then the Ivies, and so forth. It also depends on the program within the a school as well, the faculty in a department makes a difference. </p>
<p>There is also the international factor at play here, too. The Ivies have an international brand, or at least some of them do. Talk to aspiring people in China or Korea, for example,and I guarantee they have heard of Harvard or Yale or Princeton (and yes, some other elite schools, like Stanford), whereas they might not have heard of a Rice University or a University of Chicago or Duke or whatever…which means the ivies often will get the best and brightest from those places as well, simply because they are known and respected…</p>
<p>So what are the benefits of an Ivy education? Well, for one thing, the schools tend to be good schools, great ones, whatever, and they do tend to draw a high level student body for the most part (but then again, so does MIT or CalTech), and one thing you can make there is contact with connected people, because of the scions of business and industry going there (legacy or not doesn’t matter; those who never went to harvard or Yale or Princeton but made their fortune often want their kids to go there…). </p>
<p>The real advantage quite frankly is that many people, from all over, know of the ivy league schools and have a high opinion of the brand, justified or not, and it can make a big difference depending on what you are going to do. At the very least, it can be a positive factor when interviewing for jobs, many people on the other side of the interview desk will see Harvard or Yale or Princeton or whatever on their resume, and put them in the perspective pile (which is true of other high level schools, of course, depending on what you are talking about. A tech company seeing a kid with a degree from MIT in EE will put them on the perspective pile a lot easier then a kid from Purdue, no matter how good Purdue is (and it is, as an engineering school). </p>
<p>If you are talking about investment banking, then coming from an Ivy program or maybe a handful of other schools is still considered a minimum price of admissions (more graduate degree then UG, but still true). This is especially true at the big banks, where Investment Bankers are still seen as ‘gentleman’ and such (I’ll leave you to guess what I think about that one), so if you are thinking of going that way, and ivy school might be a requisite.</p>
<p>What do I think? As a hiring manager and someone who has been out there a long time, the ivy education is a good one, and the experience is unique in some ways (as all schools are), but unless you are heading into something like investment banking or other places where it still does matter, or if you have a really spectacular scholarship and aren’t going to be forking out 200k, much of it on loans, then I would say it isn’t necessarily worth it. For whatever push it may give you at the start of your career, where you went to school stops mattering once you are out there and making your way, for the most party (with some exceptions, now dying out, where there was once the equivalent of legacy preference in the business world), and like grades it really will stop mattering a whole lot. I would put the effort into finding a school that is a fit, where there is good faculty and a good environment to learn a bit about life and how things work, where you will be challenged, and then work hard after school on working your way up the ladder or whatever. </p>
<p>I also will add an observation I have seen commonly with kids graduating from programs they think are elite, it is possible to come out believing somehow that going to an elite school makes someone superior, and if you can avoid getting that, it will be to your advantage. I have seen kids from these programs flame out because of that attitude, which doesn’t sit well especially if you are working with talented people who may have gone to a good state school and done great, and shown themselves professionally, and having some snot nosed kid acting like they are inferior…as someone once said, sometimes it is better to hire avis then hertz, because avis knows they are #2 and tries harder:) (No, not all ivy graduates are like that, or even a large percentage, but it is still out there IME).</p>