This is needed more for the people inside than outside. I used to be at a famous hedge fund, and then at banks like Goldman Sachs where this attitude was common : "We hire selectively; only 1 in 750 applications is given an offer". Now how does that make you feel to be an employee? It's an amazing feeling, isn't it? To know you're special, that you're a diamond in the dust. It makes it easier for the employer to then demand you to create great things, eh? You're going to pressurize yourself to show them you're worth it.
But in reality, what happened, at least in my experience, is that the top talent almost always left because a) they never really got to use that Longest Common Subsequence algorithm that they quizzed on, so the actual daily work-experience was sappy compared to the hype or b) it was just one more conquest anyway; off to better / greater things that challenged their abilities
The real gems, in my not-so-objective perspective, were the in-betweeners : people who may not be brilliant, but those who worked hard enough to pass the interview and were really thankful to have a great employer. They stuck around and worked sincerely and were an asset to the firm in every way possible.
IMHO, a firm needs 90% ordinary folks, and only a handful of brilliant crazy geniuses.
But in reality, what happened, at least in my experience, is that the top talent almost always left because a) they never really got to use that Longest Common Subsequence algorithm that they quizzed on, so the actual daily work-experience was sappy compared to the hype or b) it was just one more conquest anyway; off to better / greater things that challenged their abilities
The real gems, in my not-so-objective perspective, were the in-betweeners : people who may not be brilliant, but those who worked hard enough to pass the interview and were really thankful to have a great employer. They stuck around and worked sincerely and were an asset to the firm in every way possible.
IMHO, a firm needs 90% ordinary folks, and only a handful of brilliant crazy geniuses.