In the 1940s and 1950s the old-line law firms of New York operated like a private club. They were all headquartered in downtown Manhattan, in and around Wall Street, in somber, granite-faced buildings. The partners at the top firms graduated from the same Ivy League schools, attended the same churches, and summered in the same oceanside towns on Long Island. They wore conservative gray suits. Their partnerships were known as "white-shoe" firms – in apparent reference to the white bucks favored at the country club or a cocktail party, and they were very particular in who they hired. As Erwin Smigel wrote in The Wall Street Lawyer, his study of the New York legal establishment of that era, they were looking for:
"lawyers who are Nordic, have pleasing personalities and ‘clean-cut’ appearances, are graduates of the ‘right schools’, have the ‘right’ social background and experience in the affairs of the world, and are endowed with tremendous stamina. A former law school dean, in discussing the qualities students need to obtain a job, offers a somewhat more realistic picture. ‘To get a job [students] should be long enough on family connections, long enough on ability or long enough on personality, or a combination of these. Something called acceptability is made up of the sum of its parts. If a man has any of these things, he could get a job. If he has two of them, he can have a choice of jobs; if he has three, he could go anywhere.’"
Plus ca change, plus c'est la meme chose. At least nowadays you don't necessarily have to be white, male, or non-Jewish, and the definition of Ivy League has broadened a bit, but this clubbishness is how it's been for a century and more. What, you thought people battled each other to get into Harvard because Harvard's graduate TAs were such talented and dedicated teachers relative to the competition?