Sunday, August 10, 2008

What Does Harvard Sell?

"Where people go to college can make a big difference in starting pay, and that difference is largely sustained into midcareer, according to a large study of global compensation. ... For instance the median starting salary of Ivy Leaguers is 32% higher than that of liberal-arts college graduates. ... Also more Ivy League graduates go into finance roles than graduates of other schools, and employers pay a premium for them, says Peter Cappelli, a professor ... at the Wharton School", WSJ, 31 July 2008.

Is anyone surprised with this? Why does say Harvard have 13 applicants for each place? What is Harvard selling? The University of Chicago answer is: it doesn't matter, raise the price!


Anonymous said...

The complete scam of "higher" education! Harvard sells connections to other Harvard graduates putting one's foot in the door so to speak.

Independent Accountant said...

I agree. For years I have said Harvard, Stanford, Yale, et. al., should sell "certificates of admission" to anyone who otherwise would have been admitted but wasn't for "lack of space", for say $100,000. They allow you to join the alumni association and attend its events. Who knows, you might meet say, Henry Paulson at a Dartmouth affair and start work at Goldman Sachs the following Monday.