On the issue of having a presence on campus: if you're not one of the really hot start-ups, putting up a fall recruiting booth at Harvard probably isn't going to sway those kids who have offers at Goldman or McKinsey as an alternative. However, it can be quite valuable to cultivate relationships with professors at local schools a rung or two down. There are brilliant kids at those schools who won't get the time of day from pedigree-conscious Wall Street, and professors are often quite well placed to identify them, based on interactions over a semester. It's a win for them, because they love being able to hook someone up with an inside lead on a good job, and it can be a great way for a start-up to get pre-vetted candidates.