Men with prestigious degrees and good careers regardless of their attractiveness 
  generally have their pick of wives through arranged marriage. 

I would say its more about 'good careers' than prestigious degrees or intelligence here in India. I am pretty sure even a guy with a 'prestigious' degree but an 'unsettled' career (Startup? NGO Worker?) would have a lot of trouble going through the arranged marriage routine. (Most of the gal's families would reject him even before they get a chance to meet each other.)

But doesn't a guy with a career that is perceived to be good, have an advantage everywhere else in the world as well, when it comes to selecting a mate?