Double Journey

I was talking to some coworkers today about college rankings.   They were talking about whose college was better and for what reason.  The topic eventually turned to college rankings which they were using as a gauge of “better”.

Now lucky for me, I hold the trump card.  My alma mater has been ranked #1 for the past several years by US News and World Report.  So I win in any argument that eventually comes to this.  Now, I would agree that Princeton is probably one of the best schools out there, if not the best, but does the ranking really matter? No, in my opinion it doesn’t matter, or at least not very much.

That is not to say that I think all schools are created equal, because I certainly don’t.  And, as someone who hires other people, I’m not going to lie and say I don’t take someone’s college education into account when I’m scanning resumes.  Would I really give more weight to someone who went to Princeton vs. MIT, ranked #1 and #7 respectively? OK, maybe in this example I would, but I certainly wouldn’t do it if it were Yale (#3) up against MIT.

Yet people put a lot of stock in these rankings even though there is very little difference between the top few schools or any of the schools in the middle.  I always have said you can get a great education no matter where you went to school, it is up to you to make the most of it.  Certainly, many doors have been opened up to me because I went to such a great and well known school like Princeton, but does it really matter if it is #1 or #10?  Perhaps to a few people on the outside looking in, but in the grand scheme of things, I think most people should just ignore college rankings.
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I got a comment yesterday on my post on How to Get Into an Ivy League School. In it, the reader was stressed about trying to get into an Ivy League school despite the fact that he has started “late” as he is almost done with his Freshman year.

Before I go answer that question specifically, I really want to touch on something. In no way should you feel stressed about getting into an Ivy League School. Let’s just be clear, it is very hard to get in but not getting in does not mean the end of the world. The vast majority of people who apply do not get in and they go on to live perfectly happy lives. I firmly believe that you can get a fantastic eduction no matter where you go, it is up to you to make the most of it. It is true, that most of my friends who have attended Ivy League schools have gone on to have great careers but you should not confuse correlation with causation. Most of these people got into an Ivy League school because they are just the type of person who would succeed in any environment. Just keep that in mind.

So despite my own words which may suggest that I’ve greatly benefited from my Ivy League degree, please keep those words in context. You will do fine in life so long as you are smart and driven. It does not matter what school your diploma comes from.

OK, now that I got that out of the way, let me answer this person’s specific question. You have nothing to worry about. I personally didn’t take any AP courses my Freshman year. I only took one my Sophomore year (that was basically all my school offered to Sophomores). I did however take every honors course that my school offered in the respective grades.

I’m no expert on the subject, but I heard of people who botched up their Freshman year, and recovered their Sophomore and Junior years to still get in. From the sound of it, my reader is doing well in the classes he is taking, so this is not a worry. If you show good progression and you take the hardest courses you can your Sophomore and Junior years, I think you have nothing to worry about. So don’t sweat it. Do well in the classes you are taking now, and make sure you take the hardest courses you can going forward. To balance it out, you should be sure to be involved in as many extra-curriculars this year to show that you were committed to making an impact in other ways this year, not just academically. Best of luck to you.
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I am an interviewer for Princeton University.  They use their alumni network to reach out to students and get to understand the person behind the application.  I’ve stated before in my post on how to get into an Ivy League, that an interview won’t make or break you.  It really is just one of those things that the admission council uses to confirm all the other things on your application.  That being said, it certainly wouldn’t hurt you to do well in your interview and there are a few things you can do to have a bad one.  So here are some tips for your interview

1.  Know why you want to go to the school - Yes, everyone wants to go to the best school, but why specifically the school you are interviewing with?  If you just want to be around smart people, you can go to any of the Ivy Leagues.  Know something about the school that is specific to it and would be great for you.  Do some reasearch, use the internet.  It isn’t hard to come prepared.
2. Have goals - You don’t have to know what you want to do for the rest of your life, but you should have some idea about what you want to do and how attending the college of your choice can help you get there.
3. Know why you stand out - Everyone has great grades and test scores.  Be able to articulate why you are different from the crowd.
4. Talk with passion - people love to here othes talk with passion about the things they love.  If you love playing the oboe, show it!
5. Demonstrate a strong desire to go to the school - Alumni who interview for their school feel very passionately about their school and have a lot of pride.  They do it strictly on a volunteer basis and it is often inconvenient for them.  They want to see people who will love their school as much as they do, so show some enthusiasm.
6. Have a conversation - don’t let it be one sided.  Ask lots of questions.  People love to hear themselves talk.  Asking questions shows interest (which helps with the ones above).  When asked a question about something, respond, and think about how you can ask a question right back.  This creates good conversation and a natural flow.

Other than that, relax.  Like I said, the interview really isn’t that important.
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I learned from Ben Bernanke. He was the head of the Economics department while I was at Princeton University. I in many ways should come to the same logical economic conclusion that he does. But for the life of me, I can’t understand what the heck he is doing these days.

Today, in case you missed it, the Fed cut the fed funds rate another 50 basis points. This along with the emergency 75 basis point cut they just did, means the rate has plummeted 125 basis points over the last week. Most of this is being done to avert a recession. Of course that implies we are not already in one.

The fed is being reactionary here. Plain and simple. They are seeing the turmoil in the stock market, and they are trying to do something about it. Why, is beyond me. This problem was created by too much easy money. The Fed dropped the fed funds rate to 1.0% several years ago. This caused a flood of cheap money to enter the market. This in turn made it very easy to get loans. This then lead to housing prices going through the roof because money was so easy to come by. Of course, the music stopped playing, and the chairs were pulled out.

To now fix this problem, the Fed proposes to do the same thing all over again? How is that going to help the situation? It isn’t. All it does is delay the inevitable. Debt must be repaid. You can continue to get more and more of it, but some day the bill comes due. It reminds me of people who use credit cards to pay off the other credit cards, compounding the problem, just trying to avoid the day they will eventually declare bankruptcy.
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Harvard announced today that it would ease the burden that Middle-class families would have to bear to send their kids to the second-best university on the planet.  I have always stated that Ivy League schools are actually more affordable than many other universities.  They just have a ton of money to help those who genuinely need it.

By the time I got to college, my family was relatively poor.  I came from a single family parent where my mom was making under 30K a year.  When choosing colleges, I did not let cost factor into the equation because I believed that a good education from the right school was worth it at almost any price.  What I discovered was that these schools had fantastic need-based financial aid.

I left Princeton (the best university in the world) with about $17,000 in debt (all of which is already paid off). If I had actually been about two years younger, I would have left with $0 in debt as Princeton has switched all it’s need based financial aids to grants rather than loans.   The last two years I attended the university, my family paid $0 to the university.  I only paid  my fees to my eating club.

I actually talked to several people in my high school who did not apply to some of the better schools because they were not sure how they would afford a private school tuition.  I wish they had known how affordable it really can be.  So for all those of you who find this page and are wondering if you should apply my advice to you is this.  APPLY!  Worry about how you will get the money later.  The worse thing that could happen is that somehow you might not be able to afford and you won’t go, but you will never know unless you try.
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The comic for Dilbert yesterday was fantastic and it actually covers a topic I’ve been wanting to talk about. I’ve done a lot of thinking about how reviews work in corporate America and how they fail miserably at achieving what they are set out to achieve. Reviews should be set up to give honest feedback to someone about their job performance, set clear goals going forward, and to motivate an employee to reach their full potential.

Everywhere I’ve worked, there has always been a mantra that “Our people are our most important asset”. This is particularly true in the tech world because your business is based on information and knowledge which must be created by smart and creative people. So, on the surface, there is at least some recognition that for a business to succeed in this space, they must have great people.

But almost every employer bases their review system on a bell curve. Now think about that. A bell curve represents a normal distribution. It is supposed to represent a nice AVERAGE population. For every “great” person you have, you must have someone who is not so great. The majority of the people will be “average”.

Now, I’m all for differentiation. I believe people need to be ranked within an organization and under-performers need to be pruned. But to go into a review with the expectation that your employee pool must come out “average” is laughable. If you are a knowledge based business, and you have average people, you are going to get average results. It’s a simple equation.

But differentiation does not mean that there needs to be winners and losers. I think the only incidence that I have heard of someone getting this right is Netflix. Netflix has a policy of keeping only the best. There are no “average” reviews. Getting an “average” review means you will be shown out the door. They openly advertise that they pay more than market rates. And I agree. If you want great people, you need to pay for it. Great people know they are very hard to replace. You may pay these people 15% more, but you will get 100% more work.

It reminds me of a controversy at Princeton when I was there. Grade inflation was a big topic there and at other Ivy League schools. It seemed that too many students were getting A’s and B’s. At the time, I agreed. I thought more people needed to get lower grades. But now being removed from the situation, I kind of see how ridiculous that is. Almost every single person at an Ivy League school was a top performer in their high school. Giving someone an ‘F’ because someone got an ‘A’ would be ludicrous. Someone else’s success should not diminish yours. Certainly, their success needs to be recognized and appreciated. They should get better rewards. But the notion that the only way to succeed is to make sure your peers fail is a very dangerous path to go down. But it is something that corporate America hasn’t seemed to figure out yet.
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OK, so one of the keys to having a great corporate pedigree is to have attended and Ivy League School (And by Ivy League I do mean any of the top-tier national schools). For most people, it is too late to change this. There is always the option of going to get a graduate degree at a top-tier university, but for most people in the working world, that just isn’t going to happen. This is for all the young people who are wondering just how I did it and what advice I may have. Remember my post about compound interest? The point of that post was to emphasize how doing a little bit now, can pay big rewards in the future. This is my view on how important it is to do well at an early age to get into the right school.

I want to be very clear about this point before I move forward. You do not need an Ivy League degree to get a good job or to be successful. Getting an Ivy League degree does not guarantee success. What it does do is present a signal to potential employers is that somehow, someway, you made it through a very selective process. This is an important consideration in many managers hiring process. My alma-mater accepts around 10% of all applicants. And this is 10% of an already very selective group. It reminds me of that Seinfeld episode where George is able to meet beautiful women because he has a picture of a model who is supposedly his dead fiancee. The women accept him because he has already been selected by another beautiful woman.

Every time I go into a job interview, at some point someone says to me, “Obviously you are smart, you went to Princeton…” This is an important point. By default I am assumed smart. I got accepted to Princeton more than a dozen years ago, and yet it still works and is paying dividends for me. It won’t get me the job by itself, but it at least allows me to get my foot in the door. It’s up to me to shove my way through.

So what do I know about getting into an Ivy League School? Well I got into several, I still do interviews for Princeton, and I actually had a college friend on the admissions board for a while. So what’s the secret? Here it is, there isn’t any. I can assure you that there is no magic formula for getting into the best schools. Each and every application is read, and read by multiple people. What catches the eye of one, may not catch the eye of another. That being said, here are the basics in order of what I believe is important.

Get good grades in the hardest classes. I want to emphasize hardest, because A’s in classes that aren’t challenging just don’t carry as much weight. You don’t have to get straight A’s (I didn’t. Got a handful of B’s) and you don’t have to be #1 in your class (I was #8) but it doesn’t hurt. Your record has to demonstrate that you consistently challenged yourself and that you excelled in those challenges. Ivy League schools are looking for people who know how to tackle problems, get things solved, and aren’t afraid of what might come their way.

Do stuff outside of class. Obvious but important. However, don’t join every club for the sake of joining a club. Top schools prefer it much more if you can show you were committed and exceeded in a few areas than you spending an hour a week in twenty different clubs. This of course flies in the face of what I did, as I wasn’t particularly talented in any one thing. Everyone at Princeton, besides being smart, tended to have one really good talent whether it be playing an instrument or being good at sports. Be well-rounded. I can’t emphasize this enough.

Standardized test are important, but they aren’t that important. This is coming from a guy who got 1560 on his SAT’s and all 5’s on the AP exams that my school saw. If you do well, great. It will just confirm the other facts. If you do poorly, you aren’t sunk yet, the rest of your application is much more important. I knew people who got 1600 and didn’t get in. I knew some people who were in the 1100’s and got in. There were probably people even lower than that. So do your best, and as long as you are OK, then don’t worry about it.

Be interesting. Don’t do what everyone else does. This will come out in your application. These people read dozens of applications a day. Believe me, they all start to sound the same. If you have some unique talent or some special life experience, make sure it comes out in your application. However don’t write about how winning the big game made your realize blah blah blah. They’ve heard it all before. At the same time, don’t be too cute either. Chances are, among the thousands of applications over a dozen years, someone has tried the same tactic. Just be honest, and yourself.

Some things that aren’t that important include your recommendations and your interview. Everyone gets a good recommendation. At worse, it can only be a small negative. The same goes for interviews. Don’t stress over them. Most high-schoolers have never been in an interview, and they are very nervous going in. Believe me, it isn’t weighted all that much. I didn’t even interview with Princeton.  If you want advice on how to do well in your Ivy League interview, follow the preceding link.

That’s all it takes, and a little bit of luck. Did I miss anything? If you have questions or want to know more about my experiences, feel free to leave a comment, and I’ll try to respond.
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