The answer to the question is that things like the Davos list or the Forbes list of most powerful men tend to be self selecting lists, where the people doing the selecting themselves are from elite backgrounds…and as far as the Davos list or the Forbes most powerful men list, is this necessarily the be all and end all of ‘the greatest’? These are so rarified, so out there, that very few people will make it,even if they went to an elite school.
So does going to an elite school matter? The answer is yes, but there is a strong caveat to that, and that is that going to an elite school has advantages, but so do other schools. Obviously, the name can help open doors on first jobs, the networking from Ivy league schools is not only legendary, but true, there is an old boys network there, and depending on who a student gets to know, it can open doors…but there are also a limited number of doors that only can be done via an Ivy degree or other elite school. Want to go work for Goldman Sachs or other top investment banks, you better come out of an elite school (and for the record, it isn’t because kids coming out of elite schools are necessarily going to make good bankers, it is that it is a self fulfilling prophecy, that those running the banks going back time immemorial came out of the Ivies and such, and that they self limit it. I have heard rumblings that the investment banks are starting to question that, that they are finding that many of the kids coming out of elite schools all study either economics and /or finance and all sound alike and think alike, and are looking for applicants from non traditional backgrounds, like kids who majored in music performance). White shoe law firms still want graduates from elite law schools (often Harvard or Yale), who in turn likely came from the elite schools, same is true of places like Harvard Med. Academia tends to have bias towards elite programs , though these days, where tenured professorships are drying up and teaching at the college level is becoming the province of wandering gypsy adjuncts and such, that is starting to die, too.
On the other hand, while an ivy or elite degree can get you an interview or a first job, it won’t have the weight in most jobs or fields beyond maybe getting the interview. In ‘regular’ jobs, including middle and upper level management, there often is a bias against Ivy league grads and there is some statistical evidence to back this up, that ivy league graduates may not be all they are cut up to be, and that they can have attitudes of entitlement and wanting to start ‘from the top’, that graduates of more modest programs may not have; it is basically a variation on the “Avis” syndrome, where the kid with the slightly less stellar grades and credentials can often turn out to do better than the A kid with the stellar stats, in part because they know they need to ‘try harder’ to impress those they hire, plus they may have more real world skill then the kids with the 4.0’s. I can tell you that 30+ years in on the tech side, as an employee and hiring manager, that Ivy league degree starts meaning less and less the longer you are working, and that for most jobs there may be some advantage having that school on your resume, because of networks and yes, name recognition on the part of some managers, but most managers out there are likely not to be elite school graduates, and to them what you have done will be more important than where you went to school, the reality is that the Ivies graduate a small percentage of all graduates, and while there is no doubt that among certain quarters of the elites the Ivy league may control and dominate access to it, for whatever reasons, but on a broad basis? Not really, not in most ‘real world’ jobs.
What interests me is how when discussions like this come up, how much people who have graduated from the elite schools have this need continually to show how going to those schools makes one elite. If in fact the Ivy and other elite schools bestow these incredible things on their graduates, that if you don’t graduate from there you will be forever mired in obscurity, never achieve much, why do some of the graduates spend all their time proclaiming how going to an elite school is the only way to be ‘great’? Heck, if going to an ivy bestowed greatness upon its graduates, last thing I would want to do is brag about it and have every tom, dick and harry trying to get in and breaching the walls of greatness, would want to keep it as its own little secret world lol.