From Bruce Charlton:
"My suggestion is that the current elite UK undergraduate universities are: Oxford, Cambridge, LSE, Imperial, Warwick, St Andrew's, UCL, York, Bristol, Edinburgh, Bath and Durham. ...As many people have observed, if you send half of the population to university, the admittance threshold will be IQ = 100 and you will have to make sure that the subjects they study are not that difficult .. nor the exams.
"I will define elite universities as those recruiting mostly from the top 10 percent of the population in terms of IQ. Since IQ in the UK has an average of 100 with a standard deviation of 15, the top 10 percent of the UK population have an IQ of about 120 plus. ...
"... relatively few ‘high-IQ’ professions have an average entry standard of 120 plus and absorb about half the cognitive elite.
"These professions include accountants, architects, scientists, computer scientists, social scientists, university teachers, mathematicians, engineers, lawyers, dentists and physicians. Leading Chief Executives and senior managers make up the other main high-IQ group."
It's getting harder to select the people who'll actually be able to do the tougher jobs. *
* Very, very hand-wavy.