These are all good points. Also, I think another point often missed in the discussion around social signaling is that certain schools create a higher opportunit

These are all good points. Also, I think another point often missed in the discussion around social signaling is that certain schools create a higher opportunity for a reference check. Upon reviewing a candidate early in her career, if she went to X, I know someone who graduated the same year, I can ask that friend/co-worker what that person is like. I think this is especially beneficial when someone doesn't work at a large company their first job out of school. It is less about the school name on the diploma, and more about obtaining an additional reference firsthand.