^Not totally.
Tier 1 is really just HYP and Wharton. MIT kids are considered more nerdy than those four and Stanford’s disadvantage is being on the west coast which is considerably more lightly recruited than schools east of the Mississippi.
Tier 2 would include Stanford and MIT and then Columbia, Duke, Dartmouth, and Chicago. Rest of Penn gets overshadowed by Wharton which makes it harder to break in from an econ major than it otherwise would be. Northwestern’s schedule screws everything up; it’s not an ideal school for getting into IB and alumni representation on the street for them is relatively low. Recruiting is better there for consulting.
Tier 3 is like Ross, McIntire, Stern, Haas (west coast IB only, harder to get to NYC from there), UPenn CAS, Cornell, Brown, Georgetown, Williams, Amherst
Tier 4 would include schools like Northwestern, Vandy, Emory, McCombs, Kelly (IB Workshop only), Notre Dame
And then a Tier 5 would be like Umich LSA/Engineering, UW Madison business school, Boston College, USC, UCLA, NYU CAS, UNC, WashU Olin, and Cal (non-Haas)
Anything beyond that and there really won’t be any sort of on campus recruiting and you’d have to recruit on your own. Up to “tier three” or so you’re in really good shape and a majority of the big banks should recruit heavily on campus.
This is all with the caveat that on a bank by bank basis this whole “tier” system doesn’t exist. There’s simply target schools and everyone else (non-targets). The schools that would get placed in these “tiers” are there on a broader industry basis based on how many of the major banks and elite boutiques make those schools targets and recruit on campus. If you want to go to a bank that doesn’t target your school, you’ll either have to have a connection that can get your resume in front of someone who will actually give it a fair look or network into a connection. Applying online doesn’t work, period.