I’d like to know, as a manager will you automatically hire a Harvard or Ivy League Graduate over a less well known, less prestigious institution. I mentionned Des Moines just as an example. Even though I’m not in a managerial position, my answer would be a resounding NO. The reason is I would not assume the Harvard guy is more competent. After all 1 + 1 = 2 no mattter which university you study. If you study let’s say the CAPM in an investment class, it’s the same thing whether you are at Harvard or a relatively unknown university. From that reasoning, why would the Harvard guy be the favorite ? For sure, the Harvard guy is probably coming from old money thus he may have access to useful business contacts that might benifit his future employer. But besides that if I was a manager, I’d look for a guy would would fit in well within the team and could bring some add value to the organization. I’d basically hire competences not prestige. In conclusion, I think both candidates should have an equal chance. I don’t think the prestige of the university the candiadate attended should bias the hiring process. I’d like to have your opinion on that. I feel I’ll take a lot of heat!!!
Does the position have anything to do with cows?
there was a whole debate on this topic recently. I believe it was called Harvard vs. CFA or something like that. Use the search function
There is a DMU: However, it’s solely for Osteopaths. Interestingly Terry E Braindead (Branstad) is the president.
You SHOULD hire the person that would be best for the position based on their ability to perform tasks well and fit in with coworkers; however, we all know this doesn’t happen all the time. It depends on the role and firm culture, but the majority of Wall Street would hire the Harvard kid- there are exceptions. Although fictional remember Gordon Gekko said, “half of these Harvard MBA types don’t add up to dogshit, give me guys that are poor, smart, and hungry…and no feelings.” A lot of the BSD’s that are less polished, come from public schools, or humble upbringings would like to hire the guy from Des Moines if he was qualified. Jim Cramer, who was homeless at one point of his life, paid his secretary $500,000 a year when he ran his hedge fund. He said, “I have no idea where she went to college…as a matter of fact I have no idea if she ever went to college but she worked her ass off for me and she was on call 24/7. She was a regular lady from Staten Island with a family and she worked for me for nine years and she came to me one day and said, Jim I love working here and you’ve treated me well but the truth is, I don’t have to work anymore. I’ve made more money than I ever thought I would.” When selecting the majority of his staff he said he didn’t pay attention to how prestigious their college was- it was all about smarts, hunger, and passion. You had to be in the office at 5:45am and you went home when he said you were allowed to…in return of his rigorous demands it’s safe to say that he made all of them rich. Lastly, the no-name school kid would need to have great experience and something on his resume to make him stand out on paper to grab someones attention in the first place. It’s safe to say that this guy wouldn’t have a shot at the major firms on the street but sometimes it’s better to work for the smaller ones anyway.
The Harvard guy got into one of the most desirable schools out there which most likely means he was top of his year in HS, most likely valedictorian, top SAT scores, etc…the other guy would need something equally great to be looked at comparably. I don’t understand all the bitterness toward the top Ivies. Not everyone that goes to Harvard is old money…I know a few Ivy alumni and they’re all brilliant.
I wonder if Gekko would say the same of Wharton MBAs in Wall Street 2. But JoeyD said “real men get PhDs” or something to that extent
I’m not sure where I said that but it was probably just a joke or I forgot to take my meds or something. But I had a Wharton MBA working for me one time and I swear that my 14-year old son was better than him (and he had an undergraduate degree from Brown). That guy couldn’t write a coherent report, program a computer to do anything, do basic financial mathematics. I finally sat him down and asked what he could do and he replied that he was very good at trading Hang Seng futures. I asked how he did that and he replied “It’s just like playing tennis. If the ball is going left you move left. If it’s going right you move right. Simple”. So I went on vacation and the big boss fired him. Anyway, my Dad just has an MBA and he is wicked smart.
JoeyDVivre Wrote: ------------------------------------------------------- > Anyway, my Dad just has an MBA and he is wicked > smart. Joey, are you from the Boston area?
if he was from boston it would’ve been “wickid smaat”
nolabird032 Wrote: ------------------------------------------------------- > if he was from boston it would’ve been “wickid > smaat” lol
Best to hire a guy who can do the job and fit in the culture. You have a team of Harvard/Wharton MBAs and you bring on board a Des Moines grad? Good luck with that. I work in the south in a small firm with 15 or so people. Half front office, half back office. Most of the people are from good schools in the south (think Duke, UNC, Emory, UVA, UF), then they brought in a Harvard MBA. The guy didn’t last 1 year and “mutually agreed” with the firm for his resignation. Like the OP said, different background can give you same hard skill performance, but fit will be based on where and how you were brought up.
In the asset management space: Harvard/Ivy: +$10mil in the fund Ivy+military: +$15mil in the fund Old money connections: Priceless.
Sometimes the money is so old it ain’t there anymore…
Are you people not paying attention? Des Moines University has no MBA program! Nor do they have an undergrad program. I’d question the wisdom of anyone who want there because it’s an Osteopathic school, but that’s a story for another day. Also, I’m very short anyone who thinks of Cramer as a business icon. The guy can’t stop mentioning his Harvard/Goldman credentials.
The “culture” factor is a good point. I don’t want to smack of elitism, but U of Des Moines and similar schools just don’t compare with the top tier schools. If you’re a recruiter and you get 200 resumes, and you can interview 5 people, why would you even bring in someone from a third-tier school??? Seriously, it makes no sense, and everyone is deluding themselves if they think otherwise. I’ll also point out that (like others), I have met a few idiots from top schools. But the proportion of idiots is much, much, much, much lower than at other schools.
There is a DMU: However, it’s solely for Osteopaths. Interestingly Terry E Braindead (Branstad) is the president. --------------------------------------------- My brother went there. He is one of the top nephrologists (think House, MD) in the Northwest. Osteopaths study curriculum virtually identical to MD’s (osteopaths are DO’s, by the way), however they also spend a lot of time focusing on spinal and joint issues.
HoldSide, If you were paying attention you would realize that Des Moines was used as an example.
Ivies bring in a lot more cash; investment-wise; not necessarily idea-wise… Many here forget that the smartest guy in the room doesn’t always get the girl