Yoyozo's admissions stress thread made me think about this topic, but I didn't want to hijack.

In the Big Picture, does it matter where you go to college/university? There's no way to definitively "know," and articles/studies disagree. For example:

The Atlantic in 2012 says when it comes to future earnings, where you go to college counts. http://www.theatlantic.com/business/archive/2012/05/does-it-matter-where-you-go-to-college/257227/

Meanwhile, Time Magazine in 2014 says whether you go to college retains some importance in your employment options, but where you go to college is of almost no importance. http://time.com/54342/it-doesnt-matter-where-you-go-to-college/

Not everyone who goes to a prestigious school is guaranteed a high-paying job (which is not necessarily everyone's end goal anyway). Not everyone who is successful post-college had to attend a prestigious school. There's not really even a consistent basis for defining what prestigious means -- top 10? 20? 50? 100? Overall vs. specific field? Why should anyone listen to U.S. News and World Report?

In my opinion, it does matter, at least in some fields and especially for top tier private sector jobs. Some doors are closed to all except certain pedigrees, whether at entry level or laterals. There is a need for people who can do the work, but between two otherwise equal candidates, many employers will tend to go for a prestigious school on a resume over a lesser-name school. A 50th percentile graduate from a prestigious school might be more attractive than a summa cum laude from a lesser name.

There are a lot of college graduates out there. Many of them don't end up with the types of jobs they envisioned upon entering college. The world is full of baristas, firemen, insurance agents, cell phone customer service agents, police officers, realtors, etc. who are college educated. I think it's a lot less common to see Ivy graduates in these jobs.

Thoughts?