I wonder if someone has actually modeled this: is hiring an ivy league kid worth the extra pay and promotion opportunities he would be expecting?
Well, we all know work demands are unpredictable and division of labor is near impossible, but is some random kid out of a third-tier state university really that much worse than a kid out of a top 10 institution?
Sure, investment banks justify their hiring of the best and the brightest because of the perfection required in every single aspect of their work. And aren’t people who graduate with honors from a top tier university perfectionists? I guess this prods another issue in how human capital works: can perfection be trained?
This is an interesting thought experiment I’ll be investigating over the next few weeks. If you have any insights/data, be sure to share them with me.