In an era where Ivy League admission rates have dwindled, with Harvard accepting only about 3% of applicants, the ultra-wealthy are employing opulent tactics to ensure their children’s success. A new wave of luxurious college consulting services is emerging, offering near-guaranteed admission to top-tier institutions. These all-inclusive packages, occasionally costing upwards of six figures, commence preparation for college even before high school begins.
When parents inquire about the key to securing admission to prestigious universities like Harvard or Yale, Christopher Rim has a straightforward response: $750,000. This is the price tag for guidance on securing a coveted place in the Ivy League, targeted at students starting college preparation as early as 7th grade. Remarkably, this cost surpasses the expenses associated with attending these elite institutions.
For those with the financial means, Rim and his team at Command Education, based in New York, operate as college concierge services. They serve as “mentors” who meticulously mold high-achieving students, refine academic performance, curate extracurricular activities, and enhance high school resumes to match Ivy League standards.
Elite universities have traditionally enrolled the offspring of affluent families. However, amid the escalating frenzy surrounding college admissions, a novel breed of high-end consultants has emerged, akin to McKinsey & Co. for 17-year-old clients. This trend underscores the lengths people are willing to go to secure coveted spots at esteemed institutions. The infamous “Varsity Blues” admissions scandal is a stark reminder that, for some, such aspirations may involve illegal means.
The backdrop for this trend is the age-old anxiety associated with gaining admission to elite universities. In recent years, the college application process has grown increasingly convoluted, characterized by plummeting acceptance rates and parents seeking any competitive edge for their children. While millions grapple with student debt and a discourse on the cost of higher education continues, being accepted into an Ivy League school remains a prestigious status symbol for wealthy families.
To further illustrate the extent of this phenomenon, Rim disclosed that a parent at New York’s Trinity School, a $64,000-per-year Ivy League feeder, once offered him $1.5 million to refrain from providing services to any of the parent’s child’s classmates (an offer Rim declined).
AcceptU, another college consulting company, received an inquiry from an expectant father who had just learned of his wife’s pregnancy and wished to inquire about hiring a consultant. This anecdote underscores the fervor with which some parents approach college admissions.
To put it bluntly, having substantial wealth significantly aids one’s chances of gaining admission to prestigious universities. A study conducted by Harvard economists revealed that students from the top 1% of income earners, predominantly White individuals, had a 43% higher likelihood of admission compared to middle-class students. Meanwhile, those from the top 0.1% were over twice as likely to secure admission.
High-end consultants have also fielded concerns from alumni parents regarding heightened scrutiny of legacy admissions. Critics deride this practice as “affirmative action for the wealthy,” a critique that gains relevance since the US Supreme Court has curtailed race-conscious admissions programs at colleges nationwide. Consequently, as summer wanes and the annual application season approaches, the admissions industry is once again in full swing.
Christopher Rim, who once operated from the Beaux-Arts Bergdorf Goodman Building in Manhattan, now courts potential clients at the exclusive Aman Club, a members-only establishment requiring a $200,000 initiation fee. Alternatively, Rim discreetly visits clients’ residences, whether they reside in a $15 Central Park West condo or on Miami’s Fisher Island, for a modest $10,000 deposit.
Traditional SAT books and parent-edited essays are no longer the focal points of college preparation. Those with financial means can now outsource years of college prep to consultants who offer programs to craft Ivy League-ready candidates. The challenge lies in distinguishing oneself in an overflowing pool of highly qualified, meticulously marketed applicants.
For instance, Command Education assisted one high school student in patenting technology for self-charging sneakers, while another student secured a partnership with a prominent sports equipment company to provide tennis gear and refurbish courts in underserved communities.
Leelila Strogov, an MIT graduate and CEO of Manhattan-based AtomicMind, caters to the billionaire set. Her clients occasionally require firm motivation to exert the effort necessary for Ivy League admission. While affluent families who can make substantial donations retain an advantage in admissions, “regularly wealthy” applicants must differentiate themselves from their high-achieving peers.
AtomicMind assigns each student-client a head adviser for “executive-function coaching.” Together, they oversee applications, while approximately 150 tutors, ranging from debate coaches to research specialists, enhance academic and extracurricular profiles. Rates start at $500 per hour and escalate to $3,
By Bloomberg
