Final answer:
Firms offer high starting salaries to top university graduates due to heightened demand for skilled labor, influenced by technology advancements and a winner-take-all labor market, not just educational premises.
Step-by-step explanation:
Many firms are offering six-figure starting salaries to graduating seniors from top universities because the demand for highly skilled labor has increased amidst advancements in computer and communications technologies. According to the demand and supply model, improvements in technology raise the pay of high-skill workers but reduce the pay for low-skill workers, leading to a wider wage gap. As the supply of college graduates has grown, so has the demand for their skills, pushing salaries above what might be explained solely by differences in education levels.
The concept of a 'winner-take-all' labor market indicates that top talents in any field command exponentially higher wages due to globalization and technological advances, not just educational attainment. This is exemplified by high wages commanded by the best professionals in various spheres.
Lastly, the perception that higher earnings equate to happiness influences some students' choices in their field of study in college, aiming for high-paying jobs immediately after graduation.