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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Legacy these days actually backfires in interviews with Wall Street investment banks and private equity when they discover the candidate got into, say Yale, via legacy preference.  It sort of delegitimizes the candidate.  Very different from even 10 years ago.[/quote]

I find this hard to believe this. Wall Street lives and thrives on connections to the elite. [/quote]

"Ivy Legacy" is not the same as "elite," anymore.  That perception is left over from when kids were admitted to the Ivy League based upon their family connections, not their GPA.  Now, an Ivy Legacy is much more likely to be the kid of a mid-level non-profit administrator.  If the kid truly has connections in the financial world, they'll know that already.

This is the dilemma face by the Ivy League.  In the old days, their grads were elite because most of their students were born on third base.  Their aura of prestige's a remnant of when they educated the children of the elite, and their current method of selecting students is taking them away from that.  If you look at the NYT "outcomes" measurement, only 11% of graduates move up more than two income quartiles and only 1.8% move up from the bottom to the top income quartile.  As these colleges admit more students from lower income levels, it will be interesting to see what happens to the income, etc stats of graduates from these colleges.  Were their prior results caused by the education & connections they provided or the result of admitting kids that were rich and connected to begin with?

https://www.nytimes.com/interactive/projects/college-mobility/harvard-university[/quote]

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