NYT: "Peak College Admissions Insanity"

[Anonymous]

Anonymous wrote:The smart hungry kid will succeed no matter where they attend college.

The smart hungry kid will achieve success more quickly at a T20 college. They'll get there too from other schools, but it may take a few to several years longer.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If the so-called elite employers think they're doing well recruiting from a certain set of schools, what incentive do they have to spend more time/money looking elsewhere for (in their mind) marginal value?

None which is why the insanity will continue. The name of the school does not matter for some degrees, and I think most people understand it, but the name on the degree is the only thing that matters for certain professions as much as people insist otherwise. For all of the Barista jokes, who has a better shot at a hedge fund job- a lax player with an english degree from Princeton or someone with a 4.0 in business from Towson?

Trick question. They both have low odds. Hedge funds are hiring the lax player's classmate majoring in something more suitable for the job.

My English major investment banker college-roommate disagrees.

You know that is the exception, right? Give me break.

My husband, also an English major, is an MD at one of the biggest investment banks on the planet. Probably the first one that jumped to your mind. So there's another exception.

(Fun fact: he's not the only one.)

does he have a graduate degree?

Yes, also English.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought it was good and covered all bases, except one, that I continue to rant about.

Part of the reason there is so much competition for the top schools is because so-called elite employers only recruit from them. We need companies to see that there are tons of bright students everywhere. Just look at the girl profiled in the article who is clearly smart and likely has a ton of grit. She's going to Hunter College where no investment bank or MBB would ever look to hire from. Until that mindset is broken, things will not change.

Maybe parents should change their mindsets and realize there is more to life than working for investment banks or consulting firms.

What is it to you or me what other people’s kids do or do not do???

Because it makes our world crappier at a time when it’s already pretty 💩.

[Anonymous]

https://collegescorecard.ed.gov/school/?166027-Harvard-University&fos_code=2301&fos_credential=3

Sorry Harvard English: $49775

I would go with the data rather than my roommate or my husband. Duh

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought it was good and covered all bases, except one, that I continue to rant about.

Part of the reason there is so much competition for the top schools is because so-called elite employers only recruit from them. We need companies to see that there are tons of bright students everywhere. Just look at the girl profiled in the article who is clearly smart and likely has a ton of grit. She's going to Hunter College where no investment bank or MBB would ever look to hire from. Until that mindset is broken, things will not change.

Until the mindset of “only elite employers for my kid” mindset changes, things will not change.

THis 1000%

Majority of kids majoring in business or finance or math or whatever, do not have a plan to work in investment banking or MBB. Typically that desire is reserved for rich kids who grew up with parents who do that work or who live in NYC area and know people who do that. But few 18yo say "I want to be a high powered IB on Wall Street when I grow up"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought it was good and covered all bases, except one, that I continue to rant about.

Part of the reason there is so much competition for the top schools is because so-called elite employers only recruit from them. We need companies to see that there are tons of bright students everywhere. Just look at the girl profiled in the article who is clearly smart and likely has a ton of grit. She's going to Hunter College where no investment bank or MBB would ever look to hire from. Until that mindset is broken, things will not change.

Until the mindset of “only elite employers for my kid” mindset changes, things will not change.

THis 1000%

Majority of kids majoring in business or finance or math or whatever, do not have a plan to work in investment banking or MBB. Typically that desire is reserved for rich kids who grew up with parents who do that work or who live in NYC area and know people who do that. But few 18yo say "I want to be a high powered IB on Wall Street when I grow up"

Every male interested in business in our graduating class’s non-DMV private does…maybe it’s a bubble? But yes they def do. And have the linked in profiles to match along with Ivy or T20 admits.

[Anonymous]

Anonymous wrote:Regarding the ED finance calculators, if it is just suggesting merit b/c you don't qualify for need-based aid, if they don't give merit, are you still on the hook? If merit is shown on the calculator, is it pretty definite that you will get that?

Always, always, take a screenshot of the NPC results! You may need them if the college doesn't come through at that level.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought it was good and covered all bases, except one, that I continue to rant about.

Part of the reason there is so much competition for the top schools is because so-called elite employers only recruit from them. We need companies to see that there are tons of bright students everywhere. Just look at the girl profiled in the article who is clearly smart and likely has a ton of grit. She's going to Hunter College where no investment bank or MBB would ever look to hire from. Until that mindset is broken, things will not change.

Until the mindset of “only elite employers for my kid” mindset changes, things will not change.

THis 1000%

Majority of kids majoring in business or finance or math or whatever, do not have a plan to work in investment banking or MBB. Typically that desire is reserved for rich kids who grew up with parents who do that work or who live in NYC area and know people who do that. But few 18yo say "I want to be a high powered IB on Wall Street when I grow up"

Every male interested in business in our graduating class’s non-DMV private does…maybe it’s a bubble? But yes they def do. And have the linked in profiles to match along with Ivy or T20 admits.

I would bet most don’t know what the job actually entails. It sounds glamorous and pays well…but it’s mind numbing and basically corporate hazing for two years and 100 hour work weeks.

I would encourage them to pay attention to AI. Banks are starting to use it and the big ones believe it could displace 90% of analyst positions within 3-5 years.

[Anonymous]

I mean forget elite schools. The insanity goes beyond the Ivy League. Flagship state schools are very, very competitive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought it was good and covered all bases, except one, that I continue to rant about.

Part of the reason there is so much competition for the top schools is because so-called elite employers only recruit from them. We need companies to see that there are tons of bright students everywhere. Just look at the girl profiled in the article who is clearly smart and likely has a ton of grit. She's going to Hunter College where no investment bank or MBB would ever look to hire from. Until that mindset is broken, things will not change.

Until the mindset of “only elite employers for my kid” mindset changes, things will not change.

THis 1000%

Majority of kids majoring in business or finance or math or whatever, do not have a plan to work in investment banking or MBB. Typically that desire is reserved for rich kids who grew up with parents who do that work or who live in NYC area and know people who do that. But few 18yo say "I want to be a high powered IB on Wall Street when I grow up"

Every male interested in business in our graduating class’s non-DMV private does…maybe it’s a bubble? But yes they def do. And have the linked in profiles to match along with Ivy or T20 admits.

I would bet most don’t know what the job actually entails. It sounds glamorous and pays well…but it’s mind numbing and basically corporate hazing for two years and 100 hour work weeks.

I would encourage them to pay attention to AI. Banks are starting to use it and the big ones believe it could displace 90% of analyst positions within 3-5 years.

AI is going to displace a boatload of white collar workers in the near future.

[Anonymous]

Anonymous wrote:I would bet most don’t know what the job actually entails. It sounds glamorous and pays well…but it’s mind numbing and basically corporate hazing for two years and 100 hour work weeks.

But once you have that on the resume, much like with BigLaw, it's much easier to "downshift" to the job with much better long-term growth prospects and quality of life.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If the so-called elite employers think they're doing well recruiting from a certain set of schools, what incentive do they have to spend more time/money looking elsewhere for (in their mind) marginal value?

None which is why the insanity will continue. The name of the school does not matter for some degrees, and I think most people understand it, but the name on the degree is the only thing that matters for certain professions as much as people insist otherwise. For all of the Barista jokes, who has a better shot at a hedge fund job- a lax player with an english degree from Princeton or someone with a 4.0 in business from Towson?

Trick question. They both have low odds. Hedge funds are hiring the lax player's classmate majoring in something more suitable for the job.

lol -- they are not. From the right school PE, Wall Street, and other high end employers could care less what the major is. English Major from Princeton gets the job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If the so-called elite employers think they're doing well recruiting from a certain set of schools, what incentive do they have to spend more time/money looking elsewhere for (in their mind) marginal value?

None which is why the insanity will continue. The name of the school does not matter for some degrees, and I think most people understand it, but the name on the degree is the only thing that matters for certain professions as much as people insist otherwise. For all of the Barista jokes, who has a better shot at a hedge fund job- a lax player with an english degree from Princeton or someone with a 4.0 in business from Towson?

Trick question. They both have low odds. Hedge funds are hiring the lax player's classmate majoring in something more suitable for the job.

NESAC schools are heavily recruited by wall street, what relevant majors do they offer?

I don't understand the question. Hedge funds tend to look for quantitative backgrounds and plenty of majors offer that.

When PP said hedge fund I think PP was using that for PE, HEdge, Wall Street. And yes they want econ and math majors. But most would be just fine with a history or English major from the right school (who was also an athlete).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If the so-called elite employers think they're doing well recruiting from a certain set of schools, what incentive do they have to spend more time/money looking elsewhere for (in their mind) marginal value?

None which is why the insanity will continue. The name of the school does not matter for some degrees, and I think most people understand it, but the name on the degree is the only thing that matters for certain professions as much as people insist otherwise. For all of the Barista jokes, who has a better shot at a hedge fund job- a lax player with an english degree from Princeton or someone with a 4.0 in business from Towson?

Trick question. They both have low odds. Hedge funds are hiring the lax player's classmate majoring in something more suitable for the job.

My English major investment banker college-roommate disagrees.

There are 2 sides: the social status deal making sales side, and the quant side. The quant side hires anyone from anywhere.

Not from a PE or Hedge fund. Not to start.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would bet most don’t know what the job actually entails. It sounds glamorous and pays well…but it’s mind numbing and basically corporate hazing for two years and 100 hour work weeks.

But once you have that on the resume, much like with BigLaw, it's much easier to "downshift" to the job with much better long-term growth prospects and quality of life.

Bingo.