IU is actually a pretty decent school. Its business program is heavily recruited by top consulting & wall street firms.
Schools like UCB, UCLA, Michigan, UVa, UT Austin, UNC ... are very well regarded. If students do well there, they very likely will get ivy-level opportunities in career.
The difference is:
- At ivy-level schools (about 15 schools), you have a lot more opportunities percentage wise, but you have a stronger concentration of smart and highly competitive kids as well.
- At level-2 schools, your percentage wise opportunities are fewer (overall number is still sizable at some schools such as Michigan due to much larger student body size), but your overall student body is not as highly competitive, although it is still quite competitive. So if you do well, you can really stand out.
"College is how you MAKE it", like everything else in life.