There is a lot of perceived degree envy and snobbery out there on Wall Street, but is it really worth it? The mad economists over at Freakonomics highlighted a new paper that looks at the value of an elite college undergraduate degree.
The upshot? You don't need to go to a college with ivy covered walls in order to succeed. The elite degree can help you get your foot in the door, but after a few years of work experience any differences disappear. Some proof, at least, that the world does operate on a meritocracy.
These results do not surprise me at all. I work with MBAs from elite colleges as well as undergrads from big state universities, but everyone is judged based on their work output. I often forget who went where until I come across their bios in our marketing materials.
Success will accrue to those who can deliver results.