Alumni are known for their powerful influence in the elite circles of countless industries and markets. 98% of Fortune 500 companies have an alumni program in some capacity. Alumni networks promote more funding, more investments, and a more positive brand sentiment. In the collegiate and university world this influence is similarly prominent.
College alumni networks are known for their massive amount of fundraising. This power to raise and provide funds gives alumni a say in what direction any college may take. At the same time, college alumni networks are often inherently tied to business alumni networks. Business founders who have a large college alumni circle have a larger pool of investment to draw from.
Even for those not looking to enter the business industry, influence networks help to build community. It’s through the access to mentors and the shared information that these networks build that this occurs. Alumni tend to stay together and offer each other help, at the very least on an economic level. Even on a personal level though the net amount of advice and expertise a network holds is massive.
Looking on a more general scale, strong alumni networks have several statistical benefits. They lead to a 2.8 times increase in revenue per employee. They increase product innovation 4.5 times. And they create a six times increase in employer attractiveness. It pays to both be and to fire someone in an alumni network.
Overall this isn’t to say that an alumni network is necessary for success. There are weaker networks, and they can be improperly utilized. It is important to stay up to date on one’s alumni network and to become involved. It’s easy enough to simply be a member but to take on any role available is a major step forward. Alumni networks are built on community so actively participating will only make them a more useful tool.