right arrow
GUEST STUDENT OF THE WEEK: AMALehigh is a rising sophomore at Lehigh University, majoring in Finance. He answers questions about academics, networking, finance, Greek life, or Lehigh in general. ASK HIM ANYTHING!
Make sure to check out our July Checklists for HS Juniors and HS Seniors. Consult these quick resources to get you started on the process this month.
As we work to adjust to the current reality, make sure to check out these dedicated COVID-19 resources: our directory of virtual campus tours, our directory of extended deadlines, as well as the list of schools going test optional this fall.

A Shocking Number Of The World's Rich And Powerful Attended Elite Colleges

sorghumsorghum 3655 replies116 threads Senior Member
A Shocking Number Of The World's Rich And Powerful Attended Elite Colleges

http://www.businessinsider.com/how-many-rich-powerful-people-went-to-elite-colleges-2014-6


217 replies
· Reply · Share
«13456711

Replies to: A Shocking Number Of The World's Rich And Powerful Attended Elite Colleges

  • Aj1993Aj1993 97 replies16 threads Junior Member
    edited June 2014
    @sally305‌ exactly! that I think is far more releavent
    edited June 2014
    · Reply · Share
  • eastcoascrazyeastcoascrazy 2603 replies22 threads Senior Member
    I logged in to make the same comment, @sally305 .
    · Reply · Share
  • TorveauxTorveaux 1451 replies10 threads Senior Member
    The college does not make the rich and powerful, it is the fact they are rich and powerful that gets them accepted and/or enrolled (meaning they can pay tuition) in the elite schools.

    For whatever reason, a great many kids (rich and not as rich) go into jobs similar to their parents. You see athletes, doctors, farmers, military types, etc. who follow in their parents' footsteps. Some of that is networking, some of it is knowledge of the 'ropes' of that field. The same thing applies to colleges of all sorts.

    My parents attended college as older adults and finished at or about the age of 50. My grandparents did not even have a HS education. Two of my siblings finished college in a 'traditional' sequence and eventually got an MS. I took the long route, but finished and my other sibling is an academic senior but is unlikely to ever actually get a degree. The next generation has done better as well. 6 college-age plus. 1 with MS from Stanford. 3 with their BS and the other 1 on a normal track toward graduation and 1 recently dropped out as a Junior, but is returning in the Fall. I expect that the younger end of that generation of our family will have similar results with most, if not all, completing a BA or BS in a 4-5 year frame after HS. We have learned a lot about the 'ropes' of college admission and success and pass that along as presumably will our progeny.
    · Reply · Share
  • HarvestMoon1HarvestMoon1 6200 replies28 threads Senior Member
    It takes a lot more than the right schools or the right "connections" to become a CEO or "rich and powerful." You need some serious brains and more importantly be fiercely motivated. My observation is that those from the backgrounds described by @dracarys above, often lack the drive.
    · Reply · Share
  • GMTplus7GMTplus7 14268 replies297 threads Senior Member

     “I'm shocked, shocked, to find that gambling is going on in here." 
    · Reply · Share
  • LakeWashingtonLakeWashington 8927 replies483 threads Senior Member
    "Move along, keep moving, move along...nothing to see here."
    · Reply · Share
  • FindmoreinfoFindmoreinfo 251 replies2 threads Junior Member
    edited June 2014
    Some probably missed the point....

    In the article:
    "Based on census and college data, I estimate that only about 2% to 5% of all U.S. undergraduates went to one of these elite schools. "

    And we have 38% CEO/rich/powerful people graduated from elite schools. This shows the elite schools do pick highly motivated and intelligent individuals. Much higher percentage of these individuals succeed.

    If you calculated base on 5% went to elite schools:
    Elite college index 0.38/0.05 = 7.6
    Other college index 0.62/0.95 = 0.65
    7.6/0.65 = 11.69 (it is 12 folds)

    Try calculated base on 2% went to elite schools:
    Elite colleges index 0.38/0.02 = 19.00
    Other college index 0.62/0.98 = 0.63
    19.00/0.63 = 30.15 (it is 30 folds)


    edited June 2014
    · Reply · Share
  • PurpleTitanPurpleTitan 13628 replies32 threads Senior Member
    @Findmoreinfo:

    That's a rather banal observation, though, and not terribly helpful to those on this forum. What would be more interesting is comparing how folks who got in to an elite and didn't go do in life to those who did attend an elite.
    · Reply · Share
  • PurpleTitanPurpleTitan 13628 replies32 threads Senior Member
    And again, throwing grad schools where differences in brand, network, and recruiting opportunities matter a lot in with the pool of undergrad schools is shoddy research and thus doesn't tell us much meaningful.
    · Reply · Share
  • sally305sally305 7475 replies129 threads Senior Member
    What would be more interesting is comparing how folks who got in to an elite and didn't go do in life to those who did attend an elite.

    I believe that what research exists has shown that there is only an appreciable difference among low-income kids who have (or don't have) the opportunity to attend elite schools.

    · Reply · Share
  • ucbalumnusucbalumnus 83387 replies741 threads Senior Member
    Torveaux wrote:
    The college does not make the rich and powerful, it is the fact they are rich and powerful that gets them accepted and/or enrolled (meaning they can pay tuition) in the elite schools.

    Not just tuition in many cases. Parental donations large enough to become "developmental admits" or otherwise gain significant admission preferences can help.
    · Reply · Share
  • VladenschlutteVladenschlutte 4292 replies37 threads Senior Member
    Is it really a shocking number? Is that how that should be described? Really?

    · Reply · Share
  • Gator88NEGator88NE 6541 replies209 threads Senior Member
    So many issues with Mr. Wai's study.

    Many CEO's went to state schools, but once they got placed on the "CEO track" their company sent them to an Elite (executive) MBA program. Wharton is a popular example (with classes taught every Friday and Saturday for 2 years...). Another example is Harvard's Program for Leadership Development (PLD), which is a 6 month program. It's hardly surprising that 38% of CEO's attended an "elite" college. A more interesting stat would have been the number that attended an "elite" college as an undergrad.

    Here is an article (form 2012) that gives more insight into how CEO's are awarded degree's by college.

    http://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/2012/05/14/where-the-fortune-500-ceos-went-to-school

    Harvard and Stanford both lead the way with 11 awarded undergraduate degrees. Then we have schools like Indiana University—Bloomington and Rutgers that both awarded 5 (Columbia and MIT each only awarded 3 undergraduate degrees), Go Rutgers! :)
    · Reply · Share
  • PizzagirlPizzagirl 40174 replies320 threads Senior Member
    "I went to Northwestern on scholarship. FANTASTIC school for a middle income kid like myself, but a lot of filthy rich kids go there, and in that circle, Northwestern is the "safety" for those who couldn't get into HYP etc. These rich families have tight networks with other rich families and all of their businesses. This crowd doesn't have to worry about applying for an internship or waiting for a job, because it's waiting for them at their parents company or their dad's friend's company. An arrangement made over a round of golf."

    There's no reason that NU should have any more or less a concentration of a FEW "filthy rich" kids compared to any other comparable elite school. (BTW, the ones who are the "filthiest rich" - you won't know about.) You wouldn't have had a scholarship at NU (or dorms, or science facilities, or whatever) if it weren't for a few "filthy rich" families (thank you Crowns, Regensteins, Pritzkers, etc.) so I see no reason to begrudge them.

    As for the networking -- the exact same networks apply at "lesser" schools. You don't think there are filthy rich kids at Ole Miss or Texas A&M whose parents are shaking hands and making arrangements? Of course there are.
    · Reply · Share
  • AlexanderIIIAlexanderIII 120 replies9 threads Junior Member
    ^^^
    I agree that you'll find an "old boys' network" at many universities that aren't considered "elite," but that isn't really Dracarys' point. The article implies that attending an "elite" university will provide you with networking opportunities that give you a leg up in the corporate world, and in my experience, Mr. Wai is hardly the only person who thinks the real value at "elite" universities is the networking possibilities.

    Dracarys pointed out a flaw in this belief. Just because you attend the same university as the rich and powerfull doesn't mean you're going to have a meaningful opportunity to network with them. She wasn't begrudging her wealthy classmates anything.
    · Reply · Share
  • mcat2mcat2 5871 replies115 threads Senior Member
    These rich families have tight networks with other rich families and all of their businesses. This crowd doesn't have to worry about applying for an internship or waiting for a job, because it's waiting for them at their parents company or their dad's friend's company. An arrangement made over a round of golf.
    Isn't this true everywhere in the world and most time in human's history?

    I heard that for some to finance companies, they are trying to find the kids from such families and they do not care about their majors or grades at college. All they want are the connections the kids from these families could bring them.

    The question for most of the "rest of us" who are not in the league is: What is the potential benefit of attending such a school, if such a school still reserves some slots for our kids for, how can I put a word on this, maybe social justice, in the "holistic process"?
    · Reply · Share
This discussion has been closed.

Recent Activity