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It was a mild inconvenience inflicted by a bureaucratic HR I almost never dealt with. If I acted out by walking on the job, well that job was paying about 40% more than other offers I had on the table. It simply was an anecdote to demonstrate that some companies have formalities around the degree.
Not saying it is the most rational or the most fair, I'm simply saying it is a thing, and a thing that these would-be-graduates likely paid a lot of money for, specifically. Some of them might have had offers lined up at 'Harvard-only' companies (which sounds terrible, but I've heard it's a thing and a thing that earn lots of money). Also, what if these would-be grads are in that camp of 'no marketable skills apart from the name on their degree'? Then for them they especially want that institutional name on their degree.
This is good advice, but keep in mind you could lose your job wherever, so it's less a game of trying to find out where you won't get laid off, but about mitigation for if it happens, in terms of contractual severance and savings. Sure if a place is particularly layoff happy, maybe not worth the trouble, but no matter how personal and respectful the treatment you get is, layoff is always in the picture, up to and including the employer just completely going out of business.
Sure, but these people paid for a Harvard degree and are presumably on a career track where that would be very valuable. The good companies and good professions may not be as lucrative for those graduation candidates as options that the Harvard degree would open up.