Yup, this is what I have been saying. Student demand for those jobs are increasing and will continue to increase because of support from Trott and other programs; nd with more business-major-like offerings plus increasing “acceptability” of those jobs in UChicago circles, yield would increase. And so, the recruiters will come back with increasing campus presence and intent to hire more.
But really, that is not what I think is important. What is important is what doors are opened, and how open are they to letting gradutes in … if 10 years ago 10 people had a 50% chance of getting an offer from Goldman and Morgan, and if now 200 people would get a 50% chance getting an offer from Goldman and Morgan, then really, its all the same. Sure, it may look easier because the applicant gets wined and dined more than before, but the outcomes are the same.
These yardsticks based on “elite” employment is at best incomplete… The “elite” destinations have changed. The pecking order cahnged too. The number and type of “elite” options continue to change. At one point GE was where things are, before that it was IBM, and Xerox and HP before that. And it their zenith, they were more elite than MBB or GS/MS
If in 10 years it is more valuable to undergrads to get a job at the likes of Tesla or SpaceX, then, it would not mean anything if applications to the Bulge Brackets go down to 5 applicants - as long as the acceptance rate is still 50%. Besides, judging employment quality based on a limited set of employers that are considered elite in the 80s is imperfect at best… the IBanks are not the only finance game in town - one can make an argument that Dimensional, Citadel, AQR and even small mid-tier quants are just as lucrative and more “elite”, and probably a better fit to UChicago grads with math, data science, CS and econ background. (In the same vein that VCs and startups replaced IBanks in the Stanford totem pole of financial services employers back in the 80s, 90s and aughts)
Anyway, . Things have changed, things will change, and things are changing. Lets make sure to measure success properly, and not judge the school based on a limited and possibly antiquated set of employers. Using proxies like IBank and MBB recruitment, or even T15 Law or M7 BSchool, are imperfect since the relative attractiveness of these options wax and wane based on what else is out there within reach (they are more like backups, if there is nothing else better to do). In fact, nowadays, the ability to get employment in big tech probably trumps banking and consulting. (I was at a Penn/Wharton shindig before this whole CoVid thing and the 2 parents that I talked to shuddered at the thought that their kid would end up settling for a consulting job at McKinsey… hmm… but then again, maybe that is more of a San Francisco thing…)
The yardstick that I am looking at more closely? Startups after college, That, to me, would be a new, additional measure of “confidence” that we could put into the mix - because entrepreneurs will have to say “no” to the Goldmans, MCkinseys and Googles of the world to forge their own path. (but this is not likely to hockeystick until after the Business Econ major is established and their links to Molecular Eng, CS, Chem, Physics, Bio, Med are solidified)