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This is just a conjecture, but it seems likely to me that more Swarthmore students go into public policy and nonprofit service than Williams students. They just have less money. That doesn't really mean they got a worse education, does it?
I'd be careful before attributing alumni wealth to academic excellence...
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I have no idea if you're correct about the divergent paths of Williams vs. Swarthmore graduates or whether that translates to anything at all when it comes to alumni giving. It seems greedy business types might even be
less likely to give than generous non-profit types. But, that is all just conjecture, just the same as your point. I think comparing Swarthmore to its peers (the schools listed in the first post) is fair, and there is likely to be some correlation, even if not 100%, to what proportion of the schools' students were satisfied with their undergraduate experience. I am not in any way attributing alumni wealth to academic excellence, but I am agreeing with a previous poster's suggestion that alumni giving rate probably correlates to student satisfaction, in comparing a school to its peers.