Disclaimer: I was a '12 grad, and currently doing a PhD in CS there.
> because some of the faculty just weren't that great
I think this is anecdotal evidence against anecdotal evidence. In my case, a lot of the faculty were that great. A few concrete names that immediately pop to mind would be: Margo Seltzer, Mike Smith, Greg Morrisett, Matt Welsch (now at google), David Malan, Howard Georgi, ...
> admissions office [..] selects [..] "excellent sheep"--kids who do (or appear to do) what they're told extremely well
Au contraire, my anecdotal evidence is that the admissions office tends to lean a lot on the "liberal arts" side. I come from a background with a strong respect of science and academics, and would often get very surprised to see some people not focus on those areas as much. But then I'd see them play their instrument, direct a play, qualify for the Olympics, etc. Most of those people ended up in consulting or teaching (TFA and the like) actually.
But no, I am not going to argue that a lot of people don't end up on Wall Street. And quite frankly, I don't see anything wrong with that. In the tech sector, we are quite fortunate that a large fraction of funding is provided through VCs. But a lot of other sectors don't have that luxury and need to resort to other sources of liquidity, private equity firms and i-banks. In those areas, it is much harder to define an actual measure of product goodness (in CS, we can always say that app X runs Y% faster or that Z% of the large number of users prefer it), and individual performance is evaluated much more based on _soft skills_. This is the exact skill set that is developed by the non-acacdemic parts of college. As tech people, we might feel cheated in some sense by that (the same way we feel cheated by a good salesman who "doesn't contribute anything"), but as long as there are requirements for capital, I don't see any alternative.
> because some of the faculty just weren't that great
I think this is anecdotal evidence against anecdotal evidence. In my case, a lot of the faculty were that great. A few concrete names that immediately pop to mind would be: Margo Seltzer, Mike Smith, Greg Morrisett, Matt Welsch (now at google), David Malan, Howard Georgi, ...
> admissions office [..] selects [..] "excellent sheep"--kids who do (or appear to do) what they're told extremely well
Au contraire, my anecdotal evidence is that the admissions office tends to lean a lot on the "liberal arts" side. I come from a background with a strong respect of science and academics, and would often get very surprised to see some people not focus on those areas as much. But then I'd see them play their instrument, direct a play, qualify for the Olympics, etc. Most of those people ended up in consulting or teaching (TFA and the like) actually.
But no, I am not going to argue that a lot of people don't end up on Wall Street. And quite frankly, I don't see anything wrong with that. In the tech sector, we are quite fortunate that a large fraction of funding is provided through VCs. But a lot of other sectors don't have that luxury and need to resort to other sources of liquidity, private equity firms and i-banks. In those areas, it is much harder to define an actual measure of product goodness (in CS, we can always say that app X runs Y% faster or that Z% of the large number of users prefer it), and individual performance is evaluated much more based on _soft skills_. This is the exact skill set that is developed by the non-acacdemic parts of college. As tech people, we might feel cheated in some sense by that (the same way we feel cheated by a good salesman who "doesn't contribute anything"), but as long as there are requirements for capital, I don't see any alternative.
edit: grammar