Silly me, I thought this was about high school class rank, not income.
The fact that they couldnât include international students likely skews the data significantly for many schools who accept a large percentage (20%+) of international Full Pay students (BU, Brandeis, Carnegie Mellon, Northeastern, etc)
The individual college data is interesting. According to it 23% of Princeton graduates end up in the 1%
Princeton also starts with 17% in the top 1%. It is the highest net gain in the ivies though, with many actually going lower than their input. Interestingly enough, Babson has an 8% jump in the 1% input/output difference. I canât seem to find any significant pattern there - other places with top business schools sometimes even have significantly lower input/output.
Among public universities, 10% of Michigan, UC Berkeley and Virginia grads end up in the top 1% of income.
Regarding highest net gain, 20% of MIT grads end up in the top 1% but only 5.7% come from families in the top 1%
@blossom Thanks for your attempt to nail down why, in my words, I got shot down in that earlier post. You say I have a weak understanding of what people in finance doâŠitâs possible that you are being kind in that assessment.
But fortunately, my reference to being shot down in a previous thread was NOT in about finance. It was a thread about the general issue of whether there really is a good reason to go to an âeliteâ university. I believe that there are LOTS of reasons to go to these universities. One reason is that it is a great crowd.- a good crowd that Iâm grateful my kid will join in the fall.
In case you are wondering, my earlier comment is below:
âIâd argue that one of the many good reasons to attend an Ivy League school is to rub elbows with the elite, where elite is proxied as very high income. After all, these are the folks who will be running huge companies one day, running for elected office, becoming partners with corner offices at major law firms, etc. This exposure helps builds social networks that last a lifetime.â
And the âshoot downâ was an insult to the kids who attend those schools â those kids got there due to their parentsâ accomplishments, not their own, so no reason to want to rub elbows with them.
Isnât there a good possibility that these results are likely skewed due to âindependentâ students and grad students filing their own FAFSA paperwork using solely their own income?
I came across this article, which is over a year old but still telling and relevant on the issue of socioeconomic diversity in colleges.
It gives kudos to Wash U for trying to increase diversity, but speaks about Muhlenberg harshly and alludes to the fact that they donât like to give out money unless it is to a kid who can raise their academic profile.
Seems like some schools give out aid for egalitarian reasons while others use aid more as a way to benefit the school
It also points out that Muhlenberg has a much smaller endowment. And if you look at the table in the first post, Muhelnberg has a much lower rate of top 1% (about 10%) then most of the others (at closer to 20%). Muhlenberg is the considered a bit less desirable than its neighbors in Lehigh and Lafayette and wants to increase its profile. Should be noted that Lafayette has a similar % of bottom 40% admits and higher percentage of 1%ers. It is a school that gives merit money to many families in NJ, NY and PA that make what is considered to be too much money for financial aid beyond loans but who, in reality, cannot afford to pay close to $60K per year given the high cost of living and aspiring to actually retire some day. Not all of those families are âwell to doâ as the article points out - many are solidly middle class at least by suburban NYC and Philadelphia standards.
Not a big fan of Muhlenberg (my son found it to be too much like his HS), but I think it serves a purpose at allowing middle class kids go to a small private college.
Itâs been shown that students from poorer families need the prestige and reputation of elite schools than their wealthier counterparts, which this NYT article and data confirms.