I think you're likely running into what hntrader mentioned here: https://news.ycombinator.com/item?id=26242516 https://news.ycombinator.com/item?id=26242516 >

I think you're likely running into what hntrader mentioned here: https://news.ycombinator.com/item?id=26242516 https://news.ycombinator.com/item?id=26242516 > This we agree on. But we have to factor in adverse selection. If you're a prestigious employer, adverse selection is going to be small to non existent. The Harvard grads joining Dropbox are going to be all excellent. If you're a tier-2 employer with no particular unique value proposition, a Harvard grad that is willing to join you isn't the same thing as a randomly selected Harvard grad (unless there's a compelling reason why they would want to join), let alone the same thing as a Harvard grad entering Dropbox. There are selection effects working against you as an employer. Edit: I'll add that if you're hiring in tech, you're fairly unlikely to run into ivy league grads who got in primarily on the basis of their wealth. Computer Science attracts upwardly mobile types who got into these schools because they were nerdy overachievers and tends not to attract people born into wealth (they typically have better options and coding isn't really that prestigious at this level).