Graduates of top universities hold a large share of leadership positions in big firms. At the same time, elite universities are aiming to expand access to middle- and low-income students. Yet, it is unclear whether the benefits of attending top universities accrue to students from poor backgrounds. This column examines new evidence from Chile and finds that admission to highly selective, business-focused degree programmes has very large effects on the rates at which male students from wealthy backgrounds attain top jobs and incomes, but little or no effect for female students and non-wealthy male students.