Yes.
What’s always funny to me about this discussion, which seems to work its way into nearly every thread, is this:
People say “don’t chase prestige” as if “prestige” were some separate quantity from the rest of the school. Prestige is defined as “widespread respect and admiration felt for someone or something on the basis of a perception of their achievements or quality”. So, if people didn’t wan’t it, it wouldn’t be prestigious.
Like when Yogi said “Nobody goes there anymore – it’s too crowded”.
The type of college and the prestige of the college and the quality of training/education DO matter, especially in our evolving economy. But there are many many exceptions in which college graduates who are highly motivated, inventive, super smart, hard working, or super “connected” (via family and friends) can overcome humble roots and low prestige college.
And there are plenty with similar background who, due to poor luck or unexpected events, end up in humdrum jobs and middle to low income. There are some who suffer misfortune due to illness or accidents, despite graduating from top tier colleges.
In other words, college prestige isn’t everything! But it’s a very good thing to have a degree from a well known college or a well known program at a lesser known college. It’s easier to get in the door for an interview, for one thing.
I would never tell my kids any of that. First of all, for people like them ( upper middle class jews) the majority DO have college degrees. Not going to college was not an option for my girls. I went to college. Their grandmother went to college. Their great grandmother went to college. And of course it matters where you go. Could my kid have the job she does in consulting attending a more mediocre school? No.
It’s not the be all,and end all but it matters. Quite a lot.
In general, it matters. In specific situations (like gaining employment in banking or consulting or asset management) it’s a necessity.
If it didn’t matter, then everyone should cancel their admission to the college they are going and instead go to the cheapest college they can find. Of course it matters. But may not make that much difference to many kids. But I sincerely believe it mattered to me that I went to Cornell. The really important thing is to make the best of any college or situation you are in. That’s more important.
This is just trying to sell magazines.
The reality is it does matter, but not as much as most people think it does.
If getting rich is the goal, it doesn’t matter. A disproportionate number of CC followers are stuck on certain perceived prestigious careers. But the really big money isn’t in those careers and doesn’t require an elite degree. In my career, I encounter many multi-millionaires and none of them went to elite schools. They are all entrepreneurs of some sort.
But even putting that aside, only a handful of careers (among hundreds/thousands of possible careers) require an elite degree, and a student will be better served by going to the local university if they plan on staying in the region after graduating.
@rickle1 The best paid consultants aren’t those that work for MBB. They are independent contractors who have developed expertise in some area, and for that, a top undergrad isn’t required.
^^^ you may be right (I do a lot of that work and went to state U) Most, the overwhelming majority who go into professional services, Big 4, MBB and the next tier, don’t stay there. It’s more of a launching pad for interesting careers in industry. I think the Partner rate is approx 1% at MBB. Same for banking. Most IBers move over to the buy side, go get a top MBA, move to industry, etc. But their experience for 2-5 yrs gives them tremendous exposure (to things above their pay grade) and credibility.
I’m not arguing you can’t do well without. I’m simply saying if you want those opportunities, easier to achieve them form a top school (undergrad). Recruiters and hiring managers DO care about it. They have limited time and need to weed out or prescreen or drill down within their process. College career, including the college, is part of that selection criteria.
College is not just about the career success that follows. Some kids would love a green campus, and others like the city. Some like big, some like small. Some kids are artsy and some are STEM or both Etc.
And in this day and age when so many have bachelor’s degrees, the particular school you attend has become more important actually. How else can employer’s differentiate?
That said hard work and talent can rise, for sure. My son usually hires from an Ivy but recently had a talented intern from a state college who they hired right away after the summer.
Most state U. graduates are going to do fine. Everyone knows tuitions are high and loans burdensome.
It really depends on finances, access to aid and so on, Noone should go into debt.
But even so, of course it matters where you go, and “fit” is really ideal.
@compmom A+ for you today with your well thought out, practical, and real world advice. IMO, you get it…
@compmom:
“How else can employer’s differentiate?”
Uh, by what a student studied, what responsibilities they took on (in ECs), and how they did?
“It’s Time to Tell Your Kids It Doesn’t Matter Where They Go To College”
Untrue
There are colleges that teach to a higher level and provide connections that other schools just can’t touch. The same student choosing between Stanford (tied #1 in Computer Science) and Missouri University of Science & Technology (Ranked #111 in Computer Science) will have very different classes, very different fellow students, very different internship opportunities and very different alumni depending which school he chooses.
Your statement would say that there is no difference.
Trying not to sound confrontational but the title is wrong.
@dave_Berry “… you’ll do equally well in terms of income … whether you go to an elite private college or a less-selective state university.”
The problem, however, is that many of them would not have those grades and test scores and achievements if they did not think it mattered.
While there is a lot of truth to the idea that college choice matters little in many majors, but It is often contingent on the student working as if they believe it does matter. If the student stops thinking it matters, then it does matter.
Why doesn’t anyone get to the heart of the matter
it shouldn’t matter where you went to college but in fact it does.
Yes, in an ideal world everyone would look beyond the college you attended and try to sort out your personal characteristics when deciding whom to interview. Reality: Resumes get fed into some app and spit out based on some criterion the hiring manager picks. . So, while we all would like to believe that talent and hard work are more important than the name of a college sometimes life doesn’t work that way. And yes, sometimes it does.
I have met people who didn’t go to college who are wildly successful and those who went Ivy who are also wild successful. As parents, I think many people try to give their kids the best they can. Many schools are out of touch for many students: grades, scores, money, acceptance etc.
I think the perception of colleges will change as a generation passes through not being accepted to elite colleges which are too expensive for most.
The meritocracy is no longer reality let’s stop pretending that it is. People can work hard and not get all they want or need. People can work only a little and hit a patch of luck ( stock options) and be wealthy for life.
Let’s continue to raise our kids to work hard and know that life isn’t fair or equal. We can only do our best and know what’s important. It’s not money or college name, it’s family and friends.
Are we only talking about how much money people make? I think there are many other factors in a happy college experience and a happy life for that matter. Not just money and career outcome.
Purple Titan, please read the rest of my previous post because that was one line, the one about “how else can employers differentiate?” I followed that with saying of course people can “rise with hard work and talent.” Your post kind of distorts what I wrote.
But the fact remains, as someone said, employers have limited time and sometimes rely on superficial distinctions as they go through a pile.
Are most kids really only motivated by external factors?
How does internal motivation factor into this? The desire to learn simply bc they want to know? The challenge to increase their knowledge bc there is world of things they are curious about that they want learn more about and thrive in increasing their understanding? The desire to participate in research bc that is what makes them tick?
Just want to add that I was referring to degree inflation. So many people get bachelor’s these days compared to a few decades ago. I think having a college degree doesn’t always help that much but NOT having one hurts 
@compmom:
“I think there are many other factors in a happy college experience and a happy life for that matter.”
You’re changing the subject as you asked about how employers could differentiate and I replied solely to that point. Employers generally don’t care much about the happy college experience and happy life when they go to interview.
“I followed that with saying of course people can “rise with hard work and talent.” Your post kind of distorts what I wrote.”
Not at all, actually. You seem to be saying that employers differentiate solely by school name but people can overcome that disadvantage by hard work and talent. Meaning you take it as a given that employers differentiate solely by school name, which may be a disadvantage. Is that not what you meant? Because I don’t see any other way to read what you wrote.