Reply to To you, what's the bottom of the "elite" colleges?

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[quote=Anonymous][quote=Anonymous]This question is a lot like asking someone their definition of rich. It’s both a relative and absolute thing. For the average person, a NW of $1+ million may be rich, yet it is “only” the 90th percentile. The Top 1% in NW is around $10 million. Even still, it’s mostly the 600+ billionaires that grab the headlines. And, within the billionaires, there are differences. Before Musk hit it big, Bezos, Buffet, and Gates (BBG) were a separate club. In sum, perceptions of rich depend on one’s awareness and life opportunities, but there are also the cold facts that define exclusivity.

Now, apply that same logic to colleges. Each year, about 5 million kids start a four-year school. The top 1% or 99th percentile, includes 50k kids. If the average freshman class at an upper-tier school is 2000, that’s 25 schools or the Top 25. In the analogy to “what is rich,” these kids are very rich. However, the Top 0.1% of kids, or 5000, go to the Top 3 schools. Traditionally, the well-educated considered those to be HPY. But, like BBG, there’s been one extra-special club, which is Harvard. As in wealth, distinctions other than these are mostly noise.  [/quote]

I agree broadly with your point, but I think it's become clear in the last several decades that entrance into HYPS is not a merit-driven enterprise. On top of the randomness, there are so many other extraneous details and variables that affect admissions, such as race, legacy, wealth, donor status, etc. It's really become more of a lottery at this point and not exactly a measure of merit/performance/smarts alone.[/quote]

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