Yeah it's extraordinary how prepared today's elite undergrads are. Population demand has outpaced spots in these colleges, and so that's why I don't believe "grade inflation" is a thing. The kids are just way, way smarter and more productive than 60 years ago, just as workers are.
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Kids cheat today massively more and get parents to demand changes to grades which is something you wouldn't see 60 years ago. It's not higher productively its lower morals and less buy-in from teachers who give in to pressure or look the other way because their authority has lowered. Plus they can't hit students anymore.
This is obviously selection bias, because as a hiring manager, I generally see the most motivated students.
But holy smokes, there are some A-game kids out there that are prepared and willing to put in the work for an opportunity.
I don't remember it being this competitive when I was a student. Maybe I wasn't in that top echelon like they are, but still.
And thus smart and talented high school students are working twice as hard these days with nothing to show for it.