A broader perspective is needed to answer this question properly. Let’s look at some possible timelines:
- To an 18 year old high school graduate, it sometimes “matters” to them to have a trophy to show their peers that they worked hard and got into a high or higher ranked school than their peers. It may seem unimportant, but it is one reason it may matter as a senior in high school.
2)During the four (or more) years at X,Y, or Z college, what really matters is how students can connect with professors and gain internships or opportunities for research. Arguably the smaller LAC or elite college with a smaller student body may have an advantage, but the student must still take the initiative to go to office hours or seek out opportunities. Some Honors programs at large state universities will help make a large university much smaller and provide support that students may not have at “elite” colleges. What matters more than anything now, rather than what school it is, is how hard a student keeps on working to learn and grow academically and socially both in and out of the classroom.
3)Upon graduation, is it possible that having a degree from a particular name school may have an impact on getting an interview or in the door? Possibly. But there are stories of Ivy or otherwise “elite college” students who got in the door but were let go for less than stellar performance. Many recruiters prefer to hire top business students from Indiana Kelley Business school, for example, because of a perceived strong work ethic, as compared with some other better known schools where some (not all) students may have a stereotype of feeling entitled. There are opportunities for accomplished students from an array of colleges. Yes, there may be some niches where Wall Street, for example, may prefer certain Ivy league schools or particular majors, but that is a microcosm of the economy and workplace. Ultimately, the student who is accomplished and has strong communication skills will find a way to success, regardless of where they went to school.
4)If one’s career leads to grad school, most recruiters are focused more on what you have done lately than where you went to undergraduate school. Some may be initially impressed if they notice you went to a top undergraduate school, but by and large, it’s your recent accomplishments, research, graduate degree, and work experience that “matter” more.
5)In changing jobs down a career path, which most will do several times in today’s economy, the focus will be less on the school one attended “that matters” and more on work experience. Of course there may be some exceptions to the rule. Not taking anything away from those Stanford Engineers!
So there you have it, a broader view of how “where you went to school may matter at times more than others, when it maymatter less, or not at all” across time.