That is basically what the article said. In addition skills that would help to get those jobs independently are also taught within the family.

Students from a poor background (like me back in the day) may still be better of studying because they haven't been taught the networking skills to profit from socialising more. Conversely maybe they should try.

I am just lucky that at least university is heavily subsidised in Australia. Coming from a poor background puts you one step behind but at least I am one step behind, not ten steps behind.

That's really all it is. Me and a couple others were the only "outside" students to get internships at a big bank. Rest of the interns had parents working at the firm. They all went on cruises and to their multi million dollar cottages every weekend. It was like some weird sick incestuous extended corporate family.

I grew up with two blue-collar parents and was the first one in my family to go to college (while working full time for most of it). I now have a BS and MS in computer science, and along with my wife we probably make 4-5 times what my parents are currently making. We certainly aren't rich (considering cost of living, etc), but I must say that I'm glad I went to school and broke the pattern of (1) maybe graduate high school (2) find the first job you can and stay there as long as you can.