Do Ivy League Grads Get The Best Quant Jobs At Wall Street
The answer is – I do not know. I do not have a statistics of quant employment at Wall Street.
Though I do believe that – yes, Ivy League grad quants get the best and highest paid jobs.
Why?
The reasoning behind is simple:
Factor 1: Proven record of excellent (top in the world) performance. If you were good enough to get in and, more importantly, do well in the Ivy League school means that you have a set of qualities that allowed you to outperform your competitors in the past (everyone wants to get into the Ivy Leagues – only actually able t0).
Factor 2: Better technical, technological, theoretical, educational background. You can argue all day long that one gets as much out of school as one desires (or how much is determined). The truth is that an average Ivy League grad is much more determined, much more disciplined, much better prepared educationally than students from other schools. Why? They study in the much more competitive environment, with much stronger professors. They use the latest and greatest technological advances since their schools can afford to implement them in the programs faster then other schools.
Factor 3: Its hard to determine skills based on the resume and interview. Ivy League diploma is basically a certification of a good quality. Four point zero GPA from an Ivy Leauge schools is in fact a fair proof that you do know what you are expected to know after years of school. It does guarantee that you are a highly motivated individual and you can work really hard to excel.
Factor 4: People tend to hire grads from the schools they went to. Wall Street is full of Ivy League grads, especially top firms. Loyalty to the own school is very common.
After all said and done – not getting into the Ivy League should not discourage you from studying. Ivy League does neither guarantee a job, nor protects you from a lay off. It just opens a door for more opportunities.