Tuesday, August 26, 2014
Why Do So Many Graduates From Elite Colleges End Up on Wall Street Or In Consulting?
Wall Street banks and top consulting firms restrict their recruiting efforts to America's elite colleges. There are many bright and competent candidates at less prestigious colleges but the banks and consulting firms burnish their brands by capturing the brand value of our elite colleges. This article (via Manan Shukla) describes the process used by the banks and consulting firms to dominate the recruiting systems at elite colleges. It also describes the process by which students from our elite colleges end up competing for jobs that were unfamiliar to them as freshman. Its part of the socialization process at our elite colleges.