Reply to Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?

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[quote=Anonymous]or do not attend any college to save even more money

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you want to compare like for like student, Dunn and Kruger is no longer the most recent large scale study (much to the dismay of mediocre schools everywhere).

"Using a new research design that isolates idiosyncratic variation in admissions decisions for waitlisted applicants, we show that attending an Ivy-Plus college instead of the average highly selective public flagship institution increases students’ chances of reaching the top 1% of the earnings distribution by 60%, nearly doubles their chances of attending an elite graduate school, and triples their chances of working at a prestigious firm."

...

"Using this design, we find that being admitted to an Ivy-Plus college increases students’ chances of
achieving upper-tail success on both monetary and non-monetary dimensions. Relative to those rejected
from the waitlist, applicants admitted from the waitlist are significantly more likely to reach the top 1% of the income distribution, attend an elite graduate school, and work at a prestigious firm. In contrast, we find a small and statistically insignificant impact of admission from the waitlist on mean earning ranks and the
probability of reaching the top quartile of the income distribution; the causal impacts of Ivy-Plus colleges are concentrated entirely in reaching the upper tail of the distribution, consistent with the predominance of students from such colleges in positions of leadership that motivated this study"

https://opportunityinsights.org/wp-content/uploads/2023/07/CollegeAdmissions_Paper.pdf

You can do ok with a degree from a state flagship, but if you want to be really successful, the school matters  [/quote]

The real world is laughing at this.

Work at a F200. 90+% of senior leadership from C-suite down to the MDs and SVPs and VPS did not go to Ivy schools. Many went to utter no name schools. You'd be shocked.

--Double Ivy grad. [/quote]

THIS^^^^

Partner is a CEO, has been at 3 companies.  At all 3 companies, only 1 person at each had an Ivy degree or a T25 degree.  Majority went to no name or their state schools, so not even 25-50 ranked.  So how did they get to their positions?  By hard work, drive and determination.  It's what you do with your knowledge and degree and the relationships you build over time in the workforce  that enable you to be successful---it's not attending Harvard or Yale.  [/quote]

The example of CEOs and even VPs is pretty pointless. Most people, even most Ivy grads, are not CEOs. More useful is comparing salaries for the same major at various schools.

For example, salary at age 45 for economics major:
Harvard: $181k
Yale: $210k
Amherst: $180k
Ohio State: $79k
Penn State: $99k
UVA: $127k
W&M: $98k

Significant difference between (Ivy or elite SLAC) and (state flagship or good in-state school).[/quote]

But this thread is about people who have the money but don’t see the value.

A William & Mary grad who paid 180 vs 400k for Harvard at 20.  And invested that 220k or used it for a down payment or paid for a grad school degree is likely far better off 25 years later.

[/quote]

You’re not really wealthy if you have to care about the “value” of Harvard. None of those people are going to make their kid live at home and commute to GMU, which would be the Best Value Ever for them. They’re just pretending Ivy somehow isn’t worth it.[/quote][/quote]

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