RE: A key selection criteria for entry into Harvard’s MBA program, assuming reasonable GMAT scores and academic record, is reported to be: Will this person be highly successful if he or she does not come to Harvard or an equivalent program? If “no” reject him or her. If “yes” accept the person.
Something interesting I read the other day...
DE Shaw used to be one of the most successful hedge funds on Wall Street. They recently laid off 10% of their workforce (a lot of them Ivy League grads were very highly paid).
REASON : Poor business and huge redemptions from investors who were losing money after the 2008 meltdown.
During the boom years, DE Shaw used to place hiring ads like : “Only Ivy League Graduates need apply.”
Will this person be highly successful if he or she does not come to Harvard or an equivalent program? If “no” reject him or her. If “yes” accept the person.”
From the institution’s perspective, that makes perfect sense. Kudos to the geniuses at the Harvard Biz School who figured that out. Would that the applicants knew that all they were doing was ensuring the survival of the Biz School.....
Not surprised, but the method makes sense given that they are more likely to know and have access to more wealthy people - easy marks! I would include those who went to prep schools like Andover, Exeter, St. Paul’s, etc. even if they did not make it to the Ivy League.