How valuable is ‘prestige’?
Just over 10 years ago, when I was President of Dublin City University, I hosted a dinner with a small number of executives of a leading US-based multinational company. We had just signed an agreement to undertake a joint research project. As we reflected over dinner on the discussions and negotiations that had produced the agreement, the senior executive of the company said that, as a matter of company policy, they would never seek to enter into any such arrangement with any of the American Ivy League universities. You would, he said, spend too much time negotiating with people who were so in awe of the prestige of their own institution that they could not entertain rational judgements about the value of their contribution to any such deal.
That assessment probably helped us at the time. But on the other hand, a recent article in the Guardian newspaper has suggested that in the higher education landscape prestige is everything. Paul Blackmore, who is Professor of Higher Education at King’s College London, looked at the impact of prestige as perceived by those who work in or lead institutions thought to enjoy it, and found that it has a major impact. One head of such a university is quoted as saying that prestige means that ‘you don’t have to explain yourself’.
Professor Blackmore himself seems to have bought this story, though he hints at some discomfort at its impact. Other recent studies have been more sceptical. An article last year in Investopedia pointed out that the empirical evidence now suggested that the prestige of a graduate’s university mattered rather less than the student’s performance while there – and that those assessing the value of someone’s degree were now statistically more likely not to be graduates of an institution guarding its ancient privileges.
Whatever the truth may be, I would suggest that those of us not leading Ivy League or Russell Group universities should not spend too much time worrying about this one way or another. This is, or should be, the age of excellence, not of aristocracy. We can and should respect traditional institutions that have excelled over the ages, but we should not believe that they are the only models for us to follow; and much less that they are necessarily our elders and betters. The future may well be ours.