If you want to get a job at the very best law firm, investment bank, or consultancy, here’s what you do:
1. Go to Harvard, Yale, Princeton, or (maybe) Stanford. If you’re a business student, attending the Wharton School at the University of Pennsylvania will work, too, but don’t show up with a diploma from Dartmouth or MIT. No one cares about those places.
2. Don’t work your rear off for a 4.0. Better to graduate with 3.7 and a bunch of really awesome extracurriculars. And by “really awesome” I mean literally climbing Everest or winning an Olympic medal. Playing intramurals doesn’t cut it.
That’s the upshot of an enlightening/depressing study about the ridiculously narrow-minded people who make hiring decisions at the aforementioned elite companies. The author of this study—Lauren Rivera, an assistant professor of management and organizations at Northwestern University—gained inside access to the hiring process at one such (unnamed) business, and picked the brains of recruiters at other firms.
The portrait that emerges is of a culture that’s insanely obsessed with pedigree. These firms pour resources into recruiting students from “target schools” (i.e., Harvard, Yale, Princeton) and then more or less ignore everybody else. Here’s a manager from a top investment bank describing what happens to the resume of someone who went to, say, Rutgers: “I’m just being really honest, it pretty much goes into a black hole.”
What’s surprising isn’t that students from elite universities have a leg up; it’s that students from other colleges don’t have a chance, even if those colleges are what the rest of us might consider elite. Here’s what a top consultant had to say about M.I.T.:
You will find it when you go to like career fairs or something and you know someone will show up and say, you know, “Hey, I didn’t go to HBS [Harvard Business School] but, you know, I am an engineer at M.I.T. and I heard about this fair and I wanted to come meet you in New York.” God bless him for the effort but, you know, it’s just not going to work.
There are exceptions, but only if the candidate has some personal connection with the firm. And the list of super-elite schools varies somewhat depending on the field. For instance, Columbia might be considered elite by some investment banks, but others describe it as “second-tier” or “just okay.”
So going to Harvard is a prerequisite. But you also need to prove, in the words of the recruiters, that you’re not “boring,” a “tool,” or a “bookworm.” This is where your leisure pursuits come in. Among the acceptable extra-curricular activities listed in the paper: traveling with a world-renowned orchestra and building houses in Costa Rica. It’s good to play sports, but they have to be the right ones. Being on the crew team is acceptable; being on the ping-pong team is not. Ideally, you should be a national or Olympic champion. And if you like hiking, you should summit some impressive peak.
When you read the accounts of recruiters at these firms, you get a sense of why they might choose these metrics. They have multiple stacks of resumes. They meet hundreds of applicants at career fairs. Rather than scrutinizing anyone’s resume it’s easier just to limit the pool to the top three or four universities. Do you really want to pore over the transcript of that kid from the University of Michigan? Wouldn’t it be easier just to call the Harvard grad? In essence, what they’re assuming is that the admissions offices at the super-elite schools have already picked the best of the best. Why second guess them?
You also can’t read this study without getting the feeling that the game is rigged. That obtaining a name-brand diploma matters more than actually learning something. That the gatekeepers at our nation’s most prestigious firms are pathetically shallow, outrageously parochial, and insufferably snobbish. The message is this:
It’s not what you did in college. It’s where you got in.
(Here’s the abstract for the paper. It was published in the journal Research in Social Stratification and Mobility.)
