Anonymous
Post 12/19/2021 16:01     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:My brother went to Princeton and it opened so many doors for him. That alumni network is SOLID. He makes more than 1 mil per year (that's his base pay - he also gets a bonus). The rest of us went to Virginia state schools and we are not even CLOSE to him in salary or success. He's no smarter nor more hard working than any of his siblings - he just made a very good decision to go to Princeton and take out student loans (which are long since paid off).


Plenty of people making your brother's salary did not attend elite colleges, including my brothers.


Yea I’m sure there’s no correlation between graduating from an elite college and lifetime earning potential.


Actually, there's not any correlation that's attributable to the college. The difference is in qualities associated with the individual. This was shown to be true long ago. Here's a link.....

https://www.nber.org/papers/w7322
Anonymous
Post 12/19/2021 15:42     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:I don't know. My DC is at Univ of Notre Dame. We are not wealthy. But, she is getting a fabulous education. So, much better than her high school friends. I think a job will come but I wanted to know that she was educated first.


My DC just got accepted Mendoza at Notre Dame
Anonymous
Post 12/19/2021 15:34     Subject: Re:My child attends an elite college. It is overrated.
It all depends on the major LOL.
If you major in some bullshit studies LOL
Anonymous
Post 12/19/2021 14:50     Subject: Re:My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:You think those kids going into consulting are only making $60k? Kind of makes me doubt the rest of your post, honey.


More misconceptions. Even at HYPS, Bain, McKinsey and Boston offers are scarce and extremely cutthroat. The bulk of the class will go onto places like PwC and other normal 9-5 gigs often branded as “consulting” — $60k offer is pretty average in that bucket.


Incorrect. I'm old and when I graduated Brown decades ago, the starting salary in consulting was $85K (around $140K today) before bonus and the bonus is $$$. I started at Lehman Brothers (I know, I'm old) and my base was $120K (approx. 200K today) with a large bonus, sometimes as much as my base. I also met my H in college and somehow, we avoided the inbreeding discussed above, as I'm from another continent.
However, what people don't get is how irrelevant the salary is for most of the Ivy graduates. MC is always obsessed with the earned income stats, the median salary after graduation. Do you think Sasha Spielberg called her dad, crying in her cereal, because she didn't get the Accenture job? Do you think Tisch and the Middle East princes were interested in a W2, 9-5 job? Ivys are not for MC trying to gain social mobility or wealth. If you are poorer and want to make serious money, go to CalTech. It is the BEST school for social mobility.


Says who?

I went to an Ivy and, at the time, there were a lot of poor and MC minority students who were not necessarily the happiest students and, at times, were overwhelmed by the whiteness of the Ivy traditions and culture.

Now, decades later, I routinely see many of these minority classmates serving on corporate boards, working for financial institutions, and sending their kids to Ivies. The Ivies have absolutely been a tool of social mobility and wealth accumulation for them and their families, regardless of whether Brown has kids with trust funds whose parents may have bought their way into an Ivy and who never need to work another day in their lives.
Anonymous
Post 12/19/2021 14:45     Subject: My child attends an elite college. It is overrated.
I don't know. My DC is at Univ of Notre Dame. We are not wealthy. But, she is getting a fabulous education. So, much better than her high school friends. I think a job will come but I wanted to know that she was educated first.
Anonymous
Post 12/19/2021 14:44     Subject: Re:My child attends an elite college. It is overrated.
The very top of the consulting world have $90K base salaries. These are the near perfect 4.0 GPA Ivy kids. Most of the kids who just fall into consulting are at lower rung firms making $55k to $70k.

Firm ... Base Salary ... Max total bonus ... Signing bonus ... Total compensation
Bain & Co. ... $90K ... $22.5 ... $5K ... $117.5
BCG ... $90K ... $18.5 ... $5K ... $113.5
McKinsey & Co. ... $90K ... $30K ... $5K ... $125k
Anonymous
Post 12/19/2021 14:39     Subject: My child attends an elite college. It is overrated.
I'm guessing OP's kid is at a low Ivy, UChicago or Northwestern?
Anonymous
Post 12/01/2021 13:22     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I sit on a committee which awards college generous scholarships to local high school seniors, so I've seen a lot of bright applicants over the last decade plus. We also request updates from recipients and most tend to respond. From what I've seen, there is little difference in outcomes between those who went to a prestigious college and those who chose a less glamorous college. If you really pressed me, it actually seems like a teen becomes more likely to pursue something low paying and indulgent or artsy after attending an Ivy (or perhaps those artsy students were attracted to Ivies in the first pace?). Motivated teens who finish in the very top of their high school class do well in life, period, no matter where they go to college. And maybe you wouldn't believe it reading forums like this, but most extremely ambitious teens have zero interest in going to an Ivy League college or Duke or Vanderbilt. They are grew up wanting to attend a state school (often their family attended) or they fell in love with some semi-selective private college a few hours from home.


Only true if you take into account that there are a lot of extremely ambitious teens who don't necessarily have the qualifications to gain admission to an Ivy or similar school. And there's a fairly obvious disconnect between suggesting that a kid is an ambitious go-getting and then asserting they want to attend state schools attended by other family members.


"Asserting"? No. I've interviewed hundreds of applicants and read their scholarship applications and essays. Their bio, grades, class rank, SAT/ACT/AP scores, and where they're heading to college and why is all on the table. And then years later we ask for and publish updates.


I agree. I think the DC mindset is a bit warped by the fact that so many people are from elsewhere, so going to the most elite college anyone has heard of matters in DC. New York may the only other place that is like this, but I think even in NY it matters to a lesser degree than DC. Anywhere else, you’ll see a few kids apply to the northeastern “elite” colleges, but a huge % of the top-scoring kids are aimed at their state flagship or, pp describes it, a “semi-selective private” nearby. I have a relative that goes to a very good private school in another state, and I was surprised by the matriculation list. Very, very heavy on the in-state flagships. The school announces where everyone was accepted, as well as where they’re attending, and there were quite a few more highly rated colleges that were turned down. High scoring kids can attend the state flagship for free. For a kid that wants to go to graduate school, it’s hard to justify spending an extra $300k on your undergraduate degree. Add in the fact that, if you want to stay in state, the alumni network is amazing, and it’s a no brainer. For example, the Zell Miller Scholarships allow top Georgia resident students to attend Georgia Tech for free (slightly lesser, but still high stats kids “just” get free tuition). Especially if you’re a Georgia Tech legacy and want to live in Atlanta after graduation, why is it so hard to believe that an “ambitious, go getting” student wouldn’t take that deal? The ## of applications to Georgia state schools would indicate that they do.

FWIW, my kid has the stats to qualify for Ivy et al admission, but he is applying to state flagships and “semi-selective privates” in the state he wants to live in after college, and that’s true of our very highly qualified relative, as well.


The reverse side of this argument is a lot of ivy kids turned down full rides elsewhere. Most of them have the stats to get full rides at less competitive schools. It’s not unusual for them to turn down full rides to attend their dream schools.
Anonymous
Post 12/01/2021 00:16     Subject: Re:My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:You think those kids going into consulting are only making $60k? Kind of makes me doubt the rest of your post, honey.


More misconceptions. Even at HYPS, Bain, McKinsey and Boston offers are scarce and extremely cutthroat. The bulk of the class will go onto places like PwC and other normal 9-5 gigs often branded as “consulting” — $60k offer is pretty average in that bucket.


Incorrect. I'm old and when I graduated Brown decades ago, the starting salary in consulting was $85K (around $140K today) before bonus and the bonus is $$$. I started at Lehman Brothers (I know, I'm old) and my base was $120K (approx. 200K today) with a large bonus, sometimes as much as my base. I also met my H in college and somehow, we avoided the inbreeding discussed above, as I'm from another continent.
However, what people don't get is how irrelevant the salary is for most of the Ivy graduates. MC is always obsessed with the earned income stats, the median salary after graduation. Do you think Sasha Spielberg called her dad, crying in her cereal, because she didn't get the Accenture job? Do you think Tisch and the Middle East princes were interested in a W2, 9-5 job? Ivys are not for MC trying to gain social mobility or wealth. If you are poorer and want to make serious money, go to CalTech. It is the BEST school for social mobility.
Anonymous
Post 11/30/2021 17:32     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I sit on a committee which awards college generous scholarships to local high school seniors, so I've seen a lot of bright applicants over the last decade plus. We also request updates from recipients and most tend to respond. From what I've seen, there is little difference in outcomes between those who went to a prestigious college and those who chose a less glamorous college. If you really pressed me, it actually seems like a teen becomes more likely to pursue something low paying and indulgent or artsy after attending an Ivy (or perhaps those artsy students were attracted to Ivies in the first pace?). Motivated teens who finish in the very top of their high school class do well in life, period, no matter where they go to college. And maybe you wouldn't believe it reading forums like this, but most extremely ambitious teens have zero interest in going to an Ivy League college or Duke or Vanderbilt. They are grew up wanting to attend a state school (often their family attended) or they fell in love with some semi-selective private college a few hours from home.


Only true if you take into account that there are a lot of extremely ambitious teens who don't necessarily have the qualifications to gain admission to an Ivy or similar school. And there's a fairly obvious disconnect between suggesting that a kid is an ambitious go-getting and then asserting they want to attend state schools attended by other family members.


"Asserting"? No. I've interviewed hundreds of applicants and read their scholarship applications and essays. Their bio, grades, class rank, SAT/ACT/AP scores, and where they're heading to college and why is all on the table. And then years later we ask for and publish updates.


I agree. I think the DC mindset is a bit warped by the fact that so many people are from elsewhere, so going to the most elite college anyone has heard of matters in DC. New York may the only other place that is like this, but I think even in NY it matters to a lesser degree than DC. Anywhere else, you’ll see a few kids apply to the northeastern “elite” colleges, but a huge % of the top-scoring kids are aimed at their state flagship or, pp describes it, a “semi-selective private” nearby. I have a relative that goes to a very good private school in another state, and I was surprised by the matriculation list. Very, very heavy on the in-state flagships. The school announces where everyone was accepted, as well as where they’re attending, and there were quite a few more highly rated colleges that were turned down. High scoring kids can attend the state flagship for free. For a kid that wants to go to graduate school, it’s hard to justify spending an extra $300k on your undergraduate degree. Add in the fact that, if you want to stay in state, the alumni network is amazing, and it’s a no brainer. For example, the Zell Miller Scholarships allow top Georgia resident students to attend Georgia Tech for free (slightly lesser, but still high stats kids “just” get free tuition). Especially if you’re a Georgia Tech legacy and want to live in Atlanta after graduation, why is it so hard to believe that an “ambitious, go getting” student wouldn’t take that deal? The ## of applications to Georgia state schools would indicate that they do.

FWIW, my kid has the stats to qualify for Ivy et al admission, but he is applying to state flagships and “semi-selective privates” in the state he wants to live in after college, and that’s true of our very highly qualified relative, as well.
Anonymous
Post 11/30/2021 16:57     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:My brother went to Princeton and it opened so many doors for him. That alumni network is SOLID. He makes more than 1 mil per year (that's his base pay - he also gets a bonus). The rest of us went to Virginia state schools and we are not even CLOSE to him in salary or success. He's no smarter nor more hard working than any of his siblings - he just made a very good decision to go to Princeton and take out student loans (which are long since paid off).


Plenty of people making your brother's salary did not attend elite colleges, including my brothers.


Yea I’m sure there’s no correlation between graduating from an elite college and lifetime earning potential.


Studies have shown that there is a correlation between attending elite colleges and lifetime earning potential IF the student is from a disadvantaged group — first gen, URM, etc. There is no correlation if the student is from a URM, educated background.
Anonymous
Post 11/30/2021 15:37     Subject: My child attends an elite college. It is overrated.
Big number of committed pre-meds? Is this Johns Hopkins?
Anonymous
Post 11/30/2021 15:34     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:My brother went to Princeton and it opened so many doors for him. That alumni network is SOLID. He makes more than 1 mil per year (that's his base pay - he also gets a bonus). The rest of us went to Virginia state schools and we are not even CLOSE to him in salary or success. He's no smarter nor more hard working than any of his siblings - he just made a very good decision to go to Princeton and take out student loans (which are long since paid off).


Plenty of people making your brother's salary did not attend elite colleges, including my brothers.


I've only worked in nonprofit/political circles, so high salary never on the table and may make folks even more focused on other trappings of prestige. I do know that there is at least one job I didn't get because I had attended a college the boss had never heard of (she told the person she hired who, in turn, told me when I was hired by another department a few months later). And I know there is at least one job I did get because I attended an Ivy for grad school (as per that boss: "that compensated for the college you attended that I had never heard of").
Anonymous
Post 11/30/2021 09:49     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:My brother went to Princeton and it opened so many doors for him. That alumni network is SOLID. He makes more than 1 mil per year (that's his base pay - he also gets a bonus). The rest of us went to Virginia state schools and we are not even CLOSE to him in salary or success. He's no smarter nor more hard working than any of his siblings - he just made a very good decision to go to Princeton and take out student loans (which are long since paid off).


Plenty of people making your brother's salary did not attend elite colleges, including my brothers.


Yea I’m sure there’s no correlation between graduating from an elite college and lifetime earning potential.


What college would PPs smart brother have attended if he didn't go to Princeton? Not a backwater podunk regional college -- at "worst" an R1 state flagship or a great liberal arts college. Her brother would not have turned into some unambitious loser just because he went to the state flagship or a nice LAC.
Anonymous
Post 11/30/2021 09:35     Subject: My child attends an elite college. It is overrated.
Anonymous wrote:
Anonymous wrote:My brother went to Princeton and it opened so many doors for him. That alumni network is SOLID. He makes more than 1 mil per year (that's his base pay - he also gets a bonus). The rest of us went to Virginia state schools and we are not even CLOSE to him in salary or success. He's no smarter nor more hard working than any of his siblings - he just made a very good decision to go to Princeton and take out student loans (which are long since paid off).


Plenty of people making your brother's salary did not attend elite colleges, including my brothers.


Yea I’m sure there’s no correlation between graduating from an elite college and lifetime earning potential.