Now confirmed with data. Forbes surveyed managers with hiring authority. When asked whether more/less likely to hire vs 5 years ago:
Ivy League: 7% more likely; 33% say less likely
Public univs: 42% more likely; 5% less likely
Selective privates: 37% more likely; 5% less likely
Anecdotal, but I’ve had several conversations in recent years with people who hire undergrads for highly competitive jobs (tech, finance, consulting etc) that are moving away from the Ivies and towards flagship state universities, citing better cultural and professional fit.