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Oh I'm sure that is accurate, but I think that has a lot to do with location as well. You'll see plenty of Ivy grads at Atlanta and Charlotte firms, but you'll probably see more Emory, Duke, UNC and UGA. Those who do go to Harvard or Yale often already have ties in the southeast, as many firms have some reservations about hires that require complete relocations. Hence, top local firms like King and Spalding will often focus efforts on schools that are less prestigious but nearby (Georgia State). At least this has been my understanding.
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