<p>I believe that the rankings may matter depending on where you live. For NYC and parts of the Northeast, I would say that s snack’s listing above is very accurate as this is how they measure the prestige of the schools nationally. The Northeast, by far, cares most about the prestige issue and they use your college as a way to peg you both professionally and socially. Meet someone new in a bar or restaurant in NYC and you’re likely to use college affiliation as a way to make connections and, by some people, as a personal assessment. That’s not to say that these assessments are accurate, but it is a fact of life. Meet someone who went to Princeton and you immediately make assumptions about this person. The same happens when you meet someone who went to U Vermont. </p>
<p>Only a handful of schools truly have a national reputation that has power in the employment process. Surely HYPS are in this category and perhaps a few others as it relates to a particular field, eg, MIT/Caltech in engineering circles. The other Ivies may some name recognition (particularly the Wharton brand at U Penn), but their power dwindles the further you go from the Northeast. </p>
<p>For the rest of the country, the list of prestige colleges is much shorter. Among national universities, in the South, a few schools hold good levels of prestige (Duke, Vanderbilt, U Virginia, U North Carolina, Emory). In the Southwest, Rice is the gold standard, but U Texas is also very well regarded. In the Midwest, and particularly around Chicago, there are six schools with the strongest reputations (Northwestern, U Chicago, Notre Dame, U Michigan, U Wisconsin, U Illinois). In the West, Stanford, Caltech, UC Berkeley, UCLA, USC, transcend all the others. </p>
<p>Of course, there are also LACs in each of these regions that are also well respected and certainly at the same or sometimes better level than some of the colleges listed above. These connections can sometimes be very powerful for some employers.</p>
<p>The fact is that the school’s label matters in so far as it puts you in position to interview for a job, but then it is up to the individual. In the case of a close competition for a job, the label might put you over the top, but probably a stronger factor is the number of alumni from that school who are in that company or that industry. Alumni can have a very strong influence on hiring patterns. However, there are truly exceptional students at many, many schools and employers also know that those coming from the high prestige schools often come with baggage, ie, unrealistic expectations and an overinflated sense of their worth (particularly at their stage of developments as 22-23 year olds).</p>