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The Harvard admission process is under trial, Ivy League College defending itself against discriminatory allegations against Americans of Asian descent. Whatever the outcome, it will not change the fact that the Harvard degree remains one of the most valuable in the country.
Ten years after graduation, Harvard graduates earn a median annual salary of $ 129,000, or 58% more than the median annual salary of $ 81,600 earned by non-university graduates. Ivy League, according to data provided to CBS MoneyWatch by PayScale.
Even among the schools of the Ivy League, Harvard stands out from the competition: graduates from all Ivy League colleges earn $ 124,600 after a decade of activity, revealed PayScale.
In addition to higher salaries, Harvard graduates have access to a network of alumni including Supreme Court Justice John Roberts, former Fed Chairman Ben Bernanke, the actress Natalie Portman and dropouts such as Facebook CEO Mark Zuckerberg.
It is therefore not surprising that many students and their parents view a Harvard degree as a major asset for a better future. At the same time, it is harder than ever to enter an Ivy League school, with admission rates for Harvard and its competitors falling to levels never reached.
Last year, nearly 43,000 students applied to Harvard, but only 5% received a letter of acceptance, one of the lowest admission rates in the country.
A man from the "Rally for the American Dream – Equal Rights in Education for All", before the start of the lawsuit in a lawsuit accusing Harvard University of discriminating against American candidates Asian origin, in Boston, on October 14, 2018.
Brian Snyder / REUTERS
In comparison, a Stanford graduate in the 1970s noted that the acceptance rate for his class was 31%. Last year, Stanford hosted less than 5% of the candidates, making it one of the most selective colleges in the country.
In previous decades, candidates have embarked on short essays that would not have earned them a second look today, such as John F. Kennedy's five-sentence essay essay for Harvard, cited by a college board company as proof that college confessions gotten much more rigorous over the last century. "
As competition for Harvard intensified, questions about his admission practices multiplied. In 2014, an anti-affirmative action group called Students for Fair Admissions sued Harvard, alleging that the college's admissions policy discriminated against American students of Asian descent .
Americans of Asian origin had an average acceptance rate of 8.1% from 1995 to 2013, according to the Harvard Crimson, citing data presented during the Harvard admission trial, currently underway in an audience hall of Boston.
This is the lowest rate of all racial groups, with acceptance rates of 10.6% and 13.2% respectively for Hispanic and African-Americans. Whites have an acceptance rate of 11.1%.
Americans of Asian descent would be held to "a much higher standard than other students," says the trial of Students for Fair Admissions. The complaint cites a Harvard Crimson survey of first-year students in 2017 that asked them for their SAT scores. The results revealed that East Asians and Indians were getting a higher score than the 2237 average of the SAT survey, while other minorities were getting a score lower than the median of the survey. ;investigation.
"Harvard demands a lot more from its American applicants of Asian descent than from those of other races and ethnicities," the complaint said.
Two groups of students seem to have a remarkably easier acceptance rate: the children of Harvard graduates and children of major donors. According to the evidence presented during the trial, Harvard's internal emails seem to indicate the college's preference for candidates whose parents are well off.
"Once again, you've done wonders, I'm just glad you were able to admit," the administrator wrote in an email to Dean of Admissions William R. Fitzsimmons. "[Redacted] and [redacted] are all great victories. [Redacted] he's already engaged in a building ".
Such preferences suggest that Harvard and other elite institutions may be contributing to the "rich get rich" phenomenon by hosting high net worth students, who will then be able to gain access to high-paying jobs and jobs. links with other Harvard graduates. According to some critics, Trump's advisor and son-in-law, Jared Kushner, was accepted at Harvard shortly after his real estate developer father pledged $ 2.5 million to the university, according to ProPublica.
Of course, an education at Harvard is not necessary to succeed. Graduates from other colleges find success in many fields and industries. Still, given that the value of a college degree has increased over the past two decades, college graduates having gotten the best jobs, receiving a letter of acceptance from Harvard could be more valuable than ever .
