@cobrat @ohiodad51 slightly off topic but as a Penn (SEAS and Wharton) grad,at least from my experience it is not the case that Whartonites were viewed as superior to other Penn students, and it was definitely not the case that Whartonites were exclusively the smartest people on campus. Sure Wharton is top in its field and a major draw for people but Penn is an ivy/strong across the board.
A more relevant example in your case would be Stern/ rest of NYU, where there is a vast disparity in the quality/competitiveness of students between Stern and the rest of NYU undergrad.
Pretty much all schools have better departments than others but if we are talking about a top school the disparities amongst the different cohorts inside the school are mitigated. For example, Yale or Brown engineering have a lower standing than Yale/Brown humanities, but engineering students are not seen as lesser in these schools, since these are top schools and it is hard to get into regardless and overall school strength/prestige tends to factor a lot in undergrad college decisions in addition to specific departmental strength.