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][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]

I know people will be up in arms, but Ivy grads don’t want to work for F200 companies outside of tech.  They want to work at hedge funds, PE funds, VC funds, start their own companies, etc.  if my kid wanted to work their way up the ranks of Wal Mart, I would absolutely advise them against an Ivy.  If they want to work at Blackstone or Sequoia then yes it helps a ton.[/quote]

And this my friends is why the parent pressure never stops. Most Ivy grads don’t not end up in PE or VC or KKR or sequoia. They end up in a law firm, or a NFP, or Pfizer, or being SAHMs. The largest employer for Harvard grads is Teach for America. Think of your friends who went to an Ivy League school.  Now think of how many of them are partners at Blackstone. Gimme a break. Give your kids a break.  They’ll be fine even if they don’t end up in finance, good grief. [/quote]

Except I’m pissed if I spent that money for them to work they way to be middle management at Walmart…[/quote]

Ditto
[/quote]

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