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Varsity Sports Participation, College Selectivity, and First Job in Investment Banking or Management Consulting in the US

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  • Douglas Coate

Abstract

I present evidence on the relationship between varsity sports participation, college selectivity, and the likelihood of a first job after graduation in investment banking or management consulting in general and at the most prestigious investment banking and management consulting firms in particular. The research is motivated by Rivera’s findings that elite firms in investment banking, management consulting, and law in the US hire from the most selective colleges and universities, usually the top five, and weigh participation in intercollegiate sports associated with high socioeconomic status over academic achievement. I use LinkedIn data to look at the first job after graduation for Ivy League varsity athletes in selected sports, 2000-2014, with strong academics as evidenced by an All Academic Ivy League designation. I do the same for Harvard University athletes in selected sports, 2007-2014. I also record the US News ranking of the undergraduate colleges and the varsity sports participation of investment bank analysts on LinkedIn at the top investment banks in the United States in 2017. I find a small proportion of investment banking analysts at top firms have been college athletes and the majority of these analysts come from undergraduate colleges outside the top 15 ranked undergraduate colleges and universities in the US. There is evidence that investment bank analysts that were college athletes were more likely to be participants in Rivera’s high status sports than in sports she classifies as more open to participants across the socioeconomic spectrum.

Suggested Citation

  • Douglas Coate, 2018. "Varsity Sports Participation, College Selectivity, and First Job in Investment Banking or Management Consulting in the US," Working Papers Rutgers University, Newark 2018-002, Department of Economics, Rutgers University, Newark.
    • Handle: RePEc:run:wpaper:2018-002
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    References listed on IDEAS

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    1. Brad J. Hershbein, 2013. "Worker Signals among New College Graduates: The Role of Selectivity and GPA," Upjohn Working Papers 13-190, W.E. Upjohn Institute for Employment Research.
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    More about this item

    Keywords

    Investment Bank Employment; Intercollegiate Sports;

    JEL classification:

    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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