The college admissions scandal comes down to money. Graduating from elite schools translates into better jobs and higher salaries, most people think.
That's usually what motivates the parents of high school students to go all out to get them into top-tier colleges.
Get ready to pay more: DirecTV Now ups subscription prices for new streaming video packages with HBO includedGraduating from big-name schools translates into better jobs and higher salaries, according to conventional wisdom.
Admissions scandal stems from money, prestigeAn oft-quoted study from 2015 found that what you studied made a difference. If you're in liberal arts or business, the school counts, but that's not the case for someone in science, technology, engineering and math, also known as STEM.
It's not just first jobs straight out of college. Later on in people's careers, head hunters still take note of job-seekers' alma maters. And that good first job leads to a second good job and with that better pay. Also important are alumni connections. The more esteemed the school, the more valuable the ties. Turning to fellow graduates for help – an introduction, a well-placed resume, an invitation to shmooze – keeps the cycle going from graduation gown to shroud.
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