A lot of what they are paying for is the HARVARD name on their sheepskin. Much like watches. You can get a great Citizen Ecowatch that runs on light and is radio synchronized to an atomic clock for $300. Yet people still fork out $5K for luxury brand watches that are crappy.
And that is really the way the world works.
I sold real estate for a while. It became clear that driving a “brand name” (Mercedes) car was a sign of success and quite literally helped you gain client respect and earn more than the car is actually cost and FAR more than it is worth as a car (it’s why resale prices are so dismal).
But fact is, a good “shingle” has an actual dollar value.
I have an old Casio Men’s Pathfinder Triple Sensor Multi-Func... watch that is pushing being a decade old. It still works off of the daylight, gets set by the national atomic watch..
It is waterproof, shockproof and even my adult sons can’t destroy them with rigorous outdoor activities.
I can buy the replacement for $149.62.