Seriously, rankings are so pointless. I personally value someone's skills, not what institution they obtained them from. I guess for our society's elite, it's their version of keeping up with Joneses. Or maybe the upper class feels the need for their kids to get elite credentials to compensate for a lack of any real skill. I don't know how motivated I'd be in life, if I didn't have to work to support myself. So in that sense, I do have some empathy for people in that position.
The majority of colleges are probably in the middle, doing their best to teach the majority of students. However, the institution does matter.
Yes, this is signaling, but really useful signaling. School can provide both signaling and skills.
Credentialism is a poor surrogate for showing your work.
However, it is a temporary phenomenon. Within 5 years I was earning on par with my colleagues who had their diplomas, and today I manage and out-earn people with degrees.
I am absolutely certain that the skills and knowledge I gained in college were essential to my career. So if the question is whether college is useful minus the credential, count me as an enthusiastic yes.
The first job after college seems huge to young folks but it really does not matter in the long run. I can't think of a single person I know over 40 who is doing the same thing today that they did out of college. In some cases the job or industry did not even exist when they graduated.
College education gives you the opportunity to built a base foundation that will serve your whole life, which is (hopefully) long. Who knows what the world and jobs will look like 30 years from now.
Also, you get as much as you put in. I’ve had plenty of awful professors but found ways to study in my own time, do my own projects and read papers on top of the curriculum I was learning. You can’t expect to passively receive the best possible education by top notch teachers, especially in research institutions.
Lastly, your first sentence neatly proves my point that elite/“top 2” programs are more about signaling and working for a FAANG. Not everyone judges the worth of their career by salary or proximity to a FAANG, and I would consider it extremely wasteful and sad if someone considered the biggest benefit of a top tier CS education to be landing a FAANG job.
You mean, the stuff you can do without enrolling? Yeah, that's the point.
Not sure what that means.
People seem to forget that the vast majority of college grads didn’t go to an Ivy League school.