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Ground-Breaking Study Reveals Shocking Results About Wall Street Hiring Practices

post #1 of 15
Thread Starter 
http://dealbreaker.com/2011/06/groun...es/#more-42584

Lauren Rivera "” a 32-year-old sociologist who teaches management and organizations at Northwestern's Kellogg School of Management "” has concluded it's still where you went rather than what you did there that makes the difference...She says "elite professional service employers" rely more on academic pedigree than any other factor. For recruiters, it's prestige that counts, rather than "content" like grades, courses, internships, or other actual performance. That's because if you got into a "super-elite" school "” which essentially means Harvard, Yale, Princeton, Wharton (University of Pennsylvania), and Stanford "” you must be smart. Plus, time spent at those bastions in turn will make you "polished" and attractive to corporate clients. It is, according to Rivera, a largely self-perpetuating hiring process that prizes efficiency: Why spend effort looking for "that one needle in the haystack" at a "safety school" like the University of Michigan or, heavens forfend, Bowling Green, when the run-of-the-mill Yalie's still a prince. Even "second-tier" Ivies like Brown, according to Rivera, are suspect for the top firms.

The most surprising finding in Rivera's research "” conducted through observation and anonymous interviewing "” was about the role of extracurriculars. While going to a super-elite gets your penny loafer in the door, that isn't enough. Rivera says it's leisure pursuits that seal the deal. Employers use these as "valid markers" or "proxies" of a candidate's "social and moral worth," all the more so for time-intensive sports that "resonate with white, upper-middle-class culture." Think lacrosse, squash, crew, and field hockey. Skip football, basketball, and soccer. And no sport at all suggests "nerd," which correlates to future "corporate drone."
post #2 of 15
No wonder we get so many crashes and all around bullshit...
post #3 of 15
I haven't been this shocked since the study that said comp sci majors make more than art history majors.
post #4 of 15
Really, it took a study to figure this out? Anybody with an iota of industry experience could have told you exactly that.
post #5 of 15
Note: we choose presidents the same way.
post #6 of 15
Quote:
Originally Posted by munchausen View Post
Note: we choose presidents the same way.

We're a bit less selective with presidents - recently, only the Bushes are 'super elite' school alums (at least for undergrad).
post #7 of 15
Yeah but nobody cares where you went to undergrad.
post #8 of 15
shocking results. i am speechless. who would have guessed?
post #9 of 15
Thank God Conne went to Princeton Law, now he's set.
post #10 of 15
Hold the party. HOLD THE PARTY. You mean to tell me that super selective colleges are full of smart students? And employers that value smarts recruit from these colleges becuase they know they are full of smart students???

Oohhhhh Mehhhhh goddddd!
post #11 of 15
Quote:
Originally Posted by gomestar View Post
Hold the party. HOLD THE PARTY. You mean to tell me that super selective colleges are full of smart students? And employers that value smarts recruit from these colleges becuase they know they are full of smart students???

Oohhhhh Mehhhhh goddddd!
Well ..
1) that wasn't the point of the article. The point was the exact opposite though.
2) if you think Harvard undergrad is 100% "smart students" .. you get an Oohhhhh Mehhhhh goddddd! from me.
post #12 of 15
db
post #13 of 15
Quote:
Originally Posted by munchausen View Post
Yeah but nobody cares where you went to undergrad.

Especially not true in finance...
post #14 of 15
sounds like a terribly flawed study
post #15 of 15
This is why I'm going to take up sailing. Rich people f***ing love boats
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