The cost of an education in America has risen so much that only the wealthy and indebted can attend. The system doesn't work
When I entered Wall Street in 1993 with a PhD, I was an anomaly. One of my bosses was a failed baseball player, another a frustrated jazz musician. One of the guys running one of the most profitable businesses, in both my firm and all of Wall Street, was a former elevator repairman. Their college degrees if they even had them were from all sorts of schools, not simply the Ivy leagues.
By the time I left Wall Street a few years ago, the only people being hired were the "play it safe kids. The ones with degrees from Princetons and Harvards. You know, the ones who had organized a soup kitchen in eighth grade (meaning, really their parents had) to load their resumes. The ones who had gone to the state science fair (meaning their parents or nannies had spent many weekends and nights helping with a science project). Few of these hires where rags-to-riches stories. Most had parents very much like those already working on Wall Street wealthy and dedicated to getting their children whatever they needed, regardless of cost. Many were in fact the children of Wall Street parents.
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