Sociologist Lauren Rivera of Northwestern spent two years researching the way elite financial and law firms really select their new hires. The original paper is behind a sciencedirect paywall, but Bryan Caplan has a nice write-up about the results. You're much better off with a degree from a tippy-top school than just any Ivy -- but they don't actually care about what you learned there. Your grades don't matter that much as long as they're not bad. Climbing a famous mountain or making a varsity team, especially if you're nationally competitive, would be wise. And oh yeah -- they do care what you got on your SATs. More reax from the Chronicle of Higher Ed and physicist Steve Hsu.
"Take a little bad psychology, add a dash of bad philosophy and ethics, and liberal quantities of bad logic, and any economist can prove that the demand curve for a commodity is negatively inclined." MIT economist Andrew Lo and string theorist turned asset manager Mark Mueller on the "physics envy" that plagues economics, and how to stop worrying and love uncertainty.