<p>Sometimes I think we lose perspective on the long-term importance of the college we attended. After your first job, with a few exceptions, such as some of the very exclusive/snobby law firms, your future employers will want to know where you went to college, but your performance on the job is MUCH more important. Particularly as I got into my 30’s/40’s, I didn’t even know where many of my colleagues went to college. Having a degree mattered–where you got it mattered a little, but not much.</p>
<p>And, speaking as someone who lives on the North Shore of Chicago, a generally affluent area, I’d match many of our public high schools against prep schools. CEOs of Fortune 100 companies send their kids to the local public high schools because the schools are so good. Unlike CA, Illinois has lower state taxes, but higher property taxes, which mostly go to the schools. The high schools on the north shore of Chicago spend $5,000 or more per student than Beverly Hills High (based on informal research I did a couple of years ago). Prep schools may be an advantage getting into college for people whose local high schools are weak, but in many places, the local high schools are outstanding. Even the outstanding high schools may not have 100% of their graduates going to 4-year colleges, but that’s because they have to take all local students, whether college material or not. But, for the students who are top-college material, the courses offered and the academic difficulty rival prep schools. I’m not criticizing prep schools–not all all. But, depending on where a student lives, the local high school may offer an equal or better opportunity. It’s not necessarily choosing “second-best” to go to a local high school.</p>
<p>Two anecdotes that may mean nothing:</p>
<p>–The CEO (he might have retired by now) of the large, prestigious consulting firm where I used to work went to the University of Wisconsin.</p>
<p>–I have met exactly two Harvard business school grads, and I can’t say I found them any more talented or interesting than any of the other very intelligent people I worked with.</p>