Holistic Admissions at Berkeley

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<p>Other than inheritance, the common ways of getting rich are not necessarily easy or fast. Of course, it also depends on how rich…</p>

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<li><p>Investment banking and management consulting: yes, starts from an elite college. But life while working is quite hard, stressful, and unhealthy: [Warning:</a> Banking May Be Hazardous to Your Health - WSJ.com](<a href=“http://online.wsj.com/article/SB10001424052970204062704577223623824944472.html]Warning:”>http://online.wsj.com/article/SB10001424052970204062704577223623824944472.html)</p></li>
<li><p>Medicine: does not require starting at an elite college, but requires excellent academic performance in college to gain admission to any medical school. Then add more time in medical school and residency, plus lots of medical school debt to pay off before earning real money.</p></li>
<li><p>Law: does not require starting at an elite college, but requires excellent academic performance in college to gain admission to a top 14 law school. Then excellent performance there is needed to get a good lawyer job. The risk of failure is high, with failed lawyers being unable to find jobs that pay enough to pay off law school debt.</p></li>
<li><p>Engineering, computer software, actuarial, etc. jobs: do not require starting at an elite college, but do require a reasonable level of mathematical ability and the interest and willingness to do the work in college. Job prospects vary based on business and industry cycles (particularly computer science). In computer software, productivity differences between people can be an order of magnitude or more, so those at the average or lower end of the range tend to be priced out of the market as they get older, due to the societal expectation of increasing pay levels with seniority.</p></li>
<li><p>Start your own business and become successful: a lot of work and risk, obviously. But very rewarding for those who do succeed. Elite college not required (some entrepreneurs did not graduate from any college).</p></li>
<li><p>Marrying into money: in terms of colleges, the elites may help if you want to marry an investment banker or management consultant. But there are other colleges where the scions of inherited wealth tend to concentrate (although that may be because they are unaffordable for students needing financial aid). Of course, you still need to work to gain the attention of a potential spouse, and verify that the potential spouse actually has money, rather than buying status symbols with debt.</p></li>
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