Re:Interest surges in top colleges, while struggling ones sc...
by credit_guy on Tuesday February 23, 2021 @09:07PM
(#26245760)
> Do the best universities have best teaching technique, or are they best because they pick brightest students and they contribute nothing special?
In the end it doesn't make a difference. Employers want to hire good candidates. Hiring is hard and the outcomes asymmetric: very good candidates can give at most 10x performance and for a company with 100+ employees that barely registers, while very bad candidates can create absolutely stunning destruction. So hiring good candidates is a high stakes game. There's lots of noise, any way to get signal out of this noise is valuable. Employers pay big fees to recruiting agencies to get good hires. A reputable university, like Harvard or MIT is like an ideal recruiting agency (and no fees): not only it finds the best candidates for you, it also trains them for 4 years. The 4 years of training function as a further filter as well. In the end, someone graduating for such a college will be quite a sure bet for employers, and so they'll have much, much better prospects in the job market. So they are willing to pay for this. Are they born smart and Harvard does not teach them anything new? Who cares? They'll get much better job offers than if they graduate from Tulane, and that translates in more money in their pockets.
In the end it doesn't make a difference. Employers want to hire good candidates. Hiring is hard and the outcomes asymmetric: very good candidates can give at most 10x performance and for a company with 100+ employees that barely registers, while very bad candidates can create absolutely stunning destruction. So hiring good candidates is a high stakes game. There's lots of noise, any way to get signal out of this noise is valuable. Employers pay big fees to recruiting agencies to get good hires. A reputable university, like Harvard or MIT is like an ideal recruiting agency (and no fees): not only it finds the best candidates for you, it also trains them for 4 years. The 4 years of training function as a further filter as well. In the end, someone graduating for such a college will be quite a sure bet for employers, and so they'll have much, much better prospects in the job market. So they are willing to pay for this. Are they born smart and Harvard does not teach them anything new? Who cares? They'll get much better job offers than if they graduate from Tulane, and that translates in more money in their pockets.