- 02 Jul, 2024
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- 1 Min Read
Have Elite Colleges Lost their Luster?
This can be disturbing for parents who want their children to have the “best” education and may be frustrated by trends that contradict the values previously thought to be iron-clad.
Traditional factors and considerations:
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Cost for the most selective colleges without any discount
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The Brand Name College may not offer the best academic programs for some majors/disciplines
Recent factors and considerations:
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Can colleges properly prepare students for the “real world” with their
self-sufficient campus environments that have minimal interaction with local communities?
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Overview of undergraduate college value, i.e., is the graduate school brand name more significant?
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Ideological views about what occurred on college campuses following October 7th
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How the administration(s) handled on-campus protests
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Safety of students
Trending considerations:
Corporations are turning from Elite to Merit-based hiring practices
This last point is so powerful and a sea change. As noted in a recent article from the NYTimes, Don’t Say ‘Elite’: Corporate Firms’ New Pitch Is Meritocracy – The New York Times(nytimes.com):
“Katy George, McKinsey’s chief people officer, told Fortune last year that the firm had increased the number of schools that its new hires came from to 500 from about 700, part of its process of “pivoting from pedigree to potential.”
Many companies are working toward a similar makeover.”
If attending an elite college will ensure one lands an awesome job at a top firm like McKinsey, this trend for college graduates should be listened to.
We don’t expect interest in elite colleges to dissipate much, but due to shrinking admit rates, it may make sense for some students to explore a broader range of schools where they can thrive and grow.