I have not met any Harvard or MIT MBAs but I have met Graduates and doing Grad School there is not about getting into a right social circle! It is about working your butt off to get there are working your butt off to complete what you started. MBA might be a different scanario. But then Business is all about socializing right people at the right time. Isn't it? I believe those Harvard MIT MBA must already be in the circle of riches or must be very social that the university is convinced that giving them that MBA degree will help the university as well.