<p>mini - did it ever occur to you that Yale kids have parents who earn a lot because they (a) are smart, and (b) work hard ? These are the attributes that Yale presumably seeks in its admits. Wealth is a byproduct of the attributes . . .</p>
<p>I invite anyone who believes in this report to go to the website and fill out the form using fictional but somewhat reasonable numbers and any school name you want, (don't claim $500,000 a year as a teacher). You will be in the database and can improve the numbers for your favorite school.</p>
<p>^^^ lol barrons - I think I'll do that for my lowly state U.
Lots of talk here about IB. Yeah, total comp is pretty high for these folks but the hourly rate is pretty low especially in the first five years. 100 hour weeks are common. So, really not such a great deal, especially in this economy.
And yeah, if you have you're heart set on working in an IB - go to an Ivy or other tippy top school. The top banks are full of elitist types who believe that only Ivy grads make the grade...
My take? There are better ways to make money that allow you to actually have a LIFE.</p>
<p>"mini, what about a kid from $75K income family goes to Yale. Will the kid make more $$ than those other $75K kids who go to state U, on average?"</p>
<p>Depends on the kid, what he / she does, and how well he / she does it.<br>
Though companies that recruit at Yale and State U pay the Yale and State U graduates the same for their first job, as you know, and then it's up to the kid.</p>
<p>Anyone have any idea why Columbia might be the lowest among the Ivies?</p>
<p>Mini, increase the estate tax and throw the bums out of their office chairs.</p>
<p>The available data tells you that kids from Yale who work in I-banking do so because daddy owns a bank? Where do you see that?</p>
<p>And you are not seriously suggesting that the issue of generational wealth and class mobility is a problem created by the I-banks? Or is it a problem created by the elite universities?</p>
<p>Talk to a member of the "professional class" in France or the UK if you want to hear the rant on how graduates of two schools have a lock on lucrative jobs in business, or how interviewers still routinely ask what your parents do for a living.</p>
<p>Fastest road to unemployment at Morgan Stanley or Goldman Sachs is to ask a recruit what their parents do for a living.</p>
<p>Do you actually know anyone who works in Investment Banking? Do you have a clue how these instiutions operate besides your paranoid theories about how preppies run America?</p>
<p>I think the i-banks hire from Ivy League schools because they are in a hurry and the kids there have already been pre-screened by the harrowing process called elite college admissions. That is the true value of an Ivy (or S or M or C) degree - signaling. These schools have signaled to the world that you are very smart and the world generally pays attention.</p>
<p>Exactly. And that's how it works in many other professions, too, albeit to a less concentrated extent than MC and IB. The value is in the "smart stamp" that you wear.</p>
<p>Although what you say, mammall, sounds logical, my D (an ivy student) had to go through a very arduous process to get her internship at Goldman Sachs this summer. After getting through the initial screening based on her resume, she had two interviews on campus, interviews in New York with an additional 8 people over 4 or 5 hours. She had to provide information about her hs GPA, SAT and SAT II scores and basically every job and thing she has done for the last 4 years. It does not seem as if she was pre-screened. </p>
<p>By the way, she says many of the interns she has met at GS are not from ivy schools.</p>
<p>I am not sure why many of the posts on this thread are writing about pre-med, MCAT's etc. This study states that it does not include MDs, LDs, or MBAs.</p>
<p>If what you mean by pre-screening, I do agree, IB firms do not recruit at all
colleges.</p>
<p>No, not ALL colleges, but they do get kids from a wider range than just the Ivies. Things are changing a bit...
From</a> Penn State to Goldman Sachs, Hear the $4.2M Nittany Lion Fund Roar - TheStreet.com</p>
<p>As I said--</p>
<p>By the way, she says many of the interns she has met at GS are not from ivy schools.</p>
<p>Some people are very stubborn... wow.</p>
<p>
[quote]
Anyone have any idea why Columbia might be the lowest among the Ivies?
[/quote]
For the same reason that it is the worst Ivy in what really matters: basketball and football. Maybe if they recruited athletes better like Princeton and Penn.</p>
<p>
[quote]
By the way, she says many of the interns she has met at GS are not from ivy schools.
[/quote]
There are only 8 schools in the Ivy League. There are other very good colleges out there like MIT, CMU, Chicago, WASP, Stanford, Ross, Stern, etc. When you say many are not from ivy schools do you mean they go to other selective top schools or that they came from places like SUNY, CUNY, Ball State, etc.?</p>
<p>why is dartmouth on top of the pile?</p>
<p>Although there are certainly issues with the stats (as there are with any stats), on a qualitative sense it's certainly true that those at top schools have an advantage for landing top jobs. Many top firms only actively recruit from a few top schools... if you don't go to one of those schools then you're not really on their radar. </p>
<p>Is that fair or the best way to get the best people? Maybe not... but that's how it is. </p>
<p>If they're finding the people they want at these schools then they won't bother elsewhere.</p>
<p>"Many top firms only actively recruit from a few top schools..."
If when you say, "many top firms," you mean IB or a few big consulting houses, then I agree. But MOST firms open their recruiting up to a larger audience. And in fact, some that I have seen avoid "Ivy types" with an assumption that they're silver-spoon types that don't work hard (again not fair but it is what it is). I currently do work with two Fortune 500 firms and neither have many Ivy grads in their professional and sr mgt jobs. It's just not that important.<br>
But certainly those who made the Ivy/top school choice (and their parents) think it IS important. No changing that perception. Especially when big dollars where spent...</p>
<p>No, there are SOME companies -- who are no more or less important than any others -- who only actively recruit from a few top schools. People with very low levels of sophistication think that these companies are the only game in town, or the only way to make a lot of money. People with a little bit more sophistication understand that there are plenty of non-glamorous industries, and below-the-radar-screen companies, where people go about quietly making boatloads of money. And many of these are even headed by (gasp) non-prestigious school graduates.</p>
<p>Mini, honestly, it sounds you're stuck in a time warp where Biff's father calls his old prep-school buddy that he used to summer with and before you know it, Biff's making a mint in investment banking despite all his C's at Dartmouth.</p>
<p>"With the exception of Harvard and a few others perhaps, I agree. But again, if you want to look at income years out, I am pretty sure you'll see Harvard Med School graduates make more on average than graduates from any other med school (matching fields of medicine; a neurosurgeon from a lower ranked medical school will likely still make more than a pediatrician from Harvard)."</p>
<p>Assuming you've matched fields of medicine and you're excluding academic medicine, I wouldn't expect that at all. Doctors who go into private practice -- where they went to school has no bearing on what they make. If they are employed by a hospital, the hospital isn't paying the Harvard Med grad a penny more than the State U Med grad for the same position. If they are private practice / self-employed, then their money comes from how well they manage their business, and there's no inherent reason to believe that the Harvard Med grad OB-GYN manages his business any better or worse than the State U Med grad OB-GYN next door.</p>