<p>Yes, HYP is given too much credit. However, LACs aren't given enough...</p>
<p>Beyond my complaint, the OP is correct. Even though HYPSMC etc. will provide some advantage in, perhaps, an entry-level job, it's your grades and the ACADEMIC reputation of your school that matter for competitive grad and professional programs, and even for some entry-level jobs. Goldman Sachs will certainly hire someone from USD if the person is qualified. Even graduates of prestigious schools start in the mail-room.</p>
<p>Not to mention, there's no demonstrated difference in outcomes between students (holding all else equal) with differences only in terms of college selectivity. I cite a study by Alan B. Krueger of MIT (formerly of Princeton) entitled Estimating the Payoff to Attending A More Selective College (abstract: MIT</a> Press Journals - Quarterly Journal of Economics - Abstract%5DMIT">http://www.mitpressjournals.org/doi/abs/10.1162/003355302320935089?cookieSet=1&journalCode=qjec)). More information can be found at Princeton</a> - News - Elite Colleges Not Necessarily Best Ticket to High Earnings, which says: "In his paper "Estimating the Payoff to Attending a More Selective College," published by the National Bureau of Economic Research, a school's selectivity, as measured by matriculants' average SAT scores, does not correlate with students' later income, once the abilities of the students upon entering college are taken into account. This finding challenges previous studies positively linking earnings to a college's prestige. The researchers did find, however, that for a subset of students -- those from a financially disadvantaged background -- an elite education did bring greater financial rewards."</p>