I'd really be interested if you could get one of the people that author those reports to say "well now that I think about it, I would have been better off going to community college rather than Harvard." There is a conflict of interest here because the fewer *other* people go to college, the higher the chances of your kid getting in are.
Well, maybe if you ask someone with a $100K + of student loans, and an education
which does not justify it. The authors claim that(at least at the undergrad level), t the
quality of the education was not too high; mostly T.A's, whom, however well-intentioned,
had neither the time nor the preparation do a good job.
The trouble is that he is defining advantage in economic terms. I think if you look at it in terms of "social power" you'll see a different story. You may make $120K as a policy wonk in a think tank, but you have a lot of social power in that your ideas influence for good or ill the lives of other people.
But in Math, which is the area I know of, one finds a significant amount of professors at top schools got their respective degrees from not-so-great schools. So, at least academically, you have a reasonable chance to move up , if you do quality research. I admit I do not at
this point remember the yardstick used to determine who has an advantage. I will check. On top of that, you do have very high-quality people in some of the not-so-great schools; at least in Math, which is the area I (somewhat ) know about.
What I think would be interesting is to look at people that make a salary of >$1M and look at the fraction of people that went to the Ivies. Or look at the CV's of Supreme Court justices. Sure if you go to Harvard, your chances of being a Supreme Court justice is very low, but there is a big difference between very low and zero.
I think to find those making $1M+, one should go to some of the top business schools,
but I don't have hard facts.
Do you think the title from top school makes most of the difference, or is the education
there significantly better? Or are the applicants (excepting those who have been exposed to advanced academic training from early-on) really that much smarter or somehow better
than those in other schools?. I don't know if this is naive, or if I am trying to B.S myself since I am not attending any of the top schools (mine is ranked around 15th, higher if
you consider schools with equal rankings), but ,don't you think that with the educational resources available nowadays, anyone with an interest in a good education and willing to put in the time, can go basically as far as they wish? What obstacle prevents a bright and hard-working student from a good program from being as good as most of those in the top 10?
But being close to a Nobel laureate makes a big difference. For example, one of the things that made me less likely to want to get a Nobel prize in physics was because I learned that Nobel prize winners sometimes have awful personal lives, and I learned this from TA gossip.
Also, even small bits of contact can make a big difference. I think while I was at MIT, I only spoke face to face with Dean Margaret MacVicar for a total of no more than five hours, but she planted some seeds in my mind that changed my life.
Why can't one have similarly valuable advice somewhere else?
There are some Nobel prize winners at UT Austin that have no clue who I am, but just sitting at the same lunch table as them and watching them ask questions and think taught me a huge amount.
Talk to him once he/she starts looking for a job.