FishmanGeertz said:
Many of the wealthiest, most powerful, and most successful people in the world graduated from ivy-league colleges. The alumni of these schools include US presidents, just about everyone working at wall-street making 7-figure salaries, corporate CEO's and executives, famous scientists and engineers, and so forth.
Good luck getting one of those 6-7 figure jobs working on wall-street in New York with an MBA from some flaky state college. There is a 99.99% chance that won't hire you unless you went to Wharton or Harvard business school, and graduated the top of your class. Or if you are closely related to someone who works there and can "pull some strings" to get you hired. Which is the case with most of the people working there. It's called "nepotism."
CFO of Bristol-Meyrs Squibb graduated from Drexel and Temple. Not Ivy.
http://www.bms.com/ourcompany/leadership/Pages/charles_bancroft_bio.aspx
President/CEO of IBM graduated from Johns Hopkins. Decently ranked, but not Ivy.
http://www-03.ibm.com/press/us/en/biography/10055.wss
Former President of the United States Ronald Reagan graduated from Eureka College.
President of MIT graduated from Rochester and Georgetown. Good schools, but not Ivy.
http://web.mit.edu/hockfield/hockfieldcv.pdf
The last president graduated from West Virginia University.
Chairman of Bank of America: University of Tennessee
President/COO of Goldman Sachs: American University
Physicist Leonard Susskind: City College of New York (although his Ph.D. is from Cornell)
Also, there are more colleges than just Ivies and "flaky state colleges." Likewise, there are more jobs out there than just Wall Street CEOs. They make up like, <0.001% of the population of the US. Is everyone else just a bum then? (Answer: No)
Goldman Sachs frequently hires students from my school for finance positions and my school ranks in the ~80-100 range.
Its important to remember that theses schools have very low admittance percentages because so many people apply to them. Harvard accepts ~2000 people per year. If 27,000 people apply, they're still only going to accept ~2000 people because they don't have room for 20,000 people on campus. If 5,000 people are qualified to get in, they still only accept ~2,000 people. The people they reject aren't necessarily "unqualified" to go there, they just don't have room for all of them. 30-40 years ago, admissions rates for Ivies was around 30%.
FishmanGeertz said:
MIT primarily focuses on physics/math, engineering, science, and technology, which is why most of the geniuses and brainiacs in the academic world can be found there. I believe I read somewhere that Harvard/MIT requires a GPA of almost 4.0, and a minimum SAT score of 2200 out of a "perfect" score of 2400. As well as a comparable score on the ACT. Very few people score above 2000 on the SAT. And every year, only three or four people get a perfect score on the test, out of millions of the high school graduates who take it.
For some reason, I was never given the SAT upon my HS graduation. I might score average/above average on the reading and writing segments, but I assure you that I would get a miserable score on the math part. My math skills are abysmal! Not to mention that you are not given enough time to complete the test, and are "rushed" through it.
Uhh, you do know that you have to register to take the SAT, right? And sign up for it yourself? High schools just don't hand you the test when you graduate. Also, most people take the SAT in the junior year so that they have the scores for college applications. If only "three or four" people get perfect scores, how does that explain the ~10,000+ people who get into Ivies every single year?
P.S. I would actually say that Oxford or Cambridge is the "single most prestigious college in the entire world." :P