The Blubber

Per BI

Parents are trying to get their kids into Ivy League colleges by reportedly paying up to $750,000 to consultants for assistance. It was reported that this signifies a rise in demand for consultants.

Per Bloomberg, hundreds of thousands of dollars are being spent on consultants to get their offspring into Ivy League colleges. The payment reportedly comes amid the decline in acceptance rates.

The college application process starts in the seventh grade. Per FairTest data, over 1,800 US colleges, which include Harvard, NYU, and Stanford, are now looking at other aptitude measurement metrics.

A managing partner at Ivy Coach, Brian Taylor, gave a statement regarding the situation and how there has also been a shift in the type of students applying. Ivy Coach is a private college counseling firm.

Taylor: "These schools every year get better and better at getting students to apply... As an extreme example, more C students applying to Harvard does not make the Harvard applicant pool more competitive."

Another Bloomberg article estimated the cost of Ivy League schools, which is $90,000 a year. Students would be charged up to $300,000 for four years of attendance at those schools.

It was also found that Americans with college degrees saw the largest decline in wages in two decades. This meant a median annual pay of $52,000 for bachelor's degree holders, per the New York Federal Reserve data.

It was also found that high-school diploma holders saw a 6% wage increase to $34,320, its biggest gain in over two decades.

Even courses like computer science saw graduates receiving a 4% decline, dropping the expected pay of 2023 graduates to $72,843. Recently, big tech companies have seen massive layoffs, with thousands of employees losing their jobs at Meta, Google, and many other companies not just within the tech sector.

See flow at unusualwhales.com/flow.

Other News:

• Americans with a college degree saw wages decline the most in two decades
• Computer science graduates starting salaries are projected to have a 4% decline to $72,843 compared to 2022

Resources:

Business Insider

Bloomberg

FairTest

Bloomberg