<p>It depends on the person (a few more data points):</p>
<p>My generation:</p>
<p>Large public high school in LA suburbs. #1 in her class at Yale and Yale Law School. Supreme Court clerk. Fabulous career in law, government, and third-world development until she contracted a serious illness that disabled her for five years. Now in-house counsel to a hedge fund.</p>
<p>Small private in New England. Yale summa, Harvard MD. Well-known public health researcher and in administration at a famous hospital.</p>
<p>Small private in upstate NY. MIT, Brown PhD. Reasonably successful computer engineer, many publications, long career at Bell Labs until recently.</p>
<p>Small private in upstate NY. Harvard summa, PhD in history, then went to law school. Law professor at a third-tier law school.</p>
<p>Small private in upstate NY. Yale summa, Stanford JD, Supreme Court clerk. Reasonably successful, but undistinguished legal career.</p>
<p>Small private in upstate NY. Dartmouth. Lifelong struggle with alchoholism, scrapes by in sales jobs.</p>
<p>Small private in upstate NY. Dartmouth, Harvard MBA. SOM in Silicon Valley.</p>
<p>Different, less competitive small private in upstate NY. Did well at Swarthmore. In and out of grad programs for many years, ultimately ordained as a rabbi without an advanced degree. Variety of rabbinical jobs, most part-time, some publications. Now in law school at age 50.</p>
<p>Large urban public magnet. Harvard magna, Princeton PhD. English department chair at second-tier midwestern state university.</p>
<p>Small rural midwestern public. Duke summa, MD from state u. Professor and Associate Dean at a public university medical school.</p>
<p>Small rural southwestern public. Haverford, Penn Law. Successful lawyer specializing in disability claims, past president of national association in his field.</p>
<p>Large urban southwestern public. Harvard, Stanford JD. Ex-judge, successful litigation practice in city near where he grew up.</p>
<p>I think Larry Summers was the valedictorian at his large suburban public high school, but I’m not sure. I’ll leave it to others to decide whether he fizzled out, but on the whole I think he belongs in the “successful” category.</p>
<p>My kids generation:</p>
<p>Large suburban public in western PA. Harvard. Freelance journalist, now star investigative reporter for small weekly. Looking to jump to the big time.</p>
<p>Small urban private. Harvard. Having reasonable success in arts journalism (not a lucrative field) as a freelancer and editor at a well-known publication.</p>
<p>Large urban public magnet. Harvard pre-med. Keeping head down, somewhat distracted by stuff in personal life.</p>