A lot of schools do this...and if you think about it, it definitely benefits the schools too. If you are an alumni and get a job lead from a career center are you more likely to help out students looking in the future and it might lead to donations in the future. Kellogg has people specifically dedicated to helping alumni and I know other schools do it too. Our job board even has jobs aimed at alumni...plus all the networking and counseling stuff. It definitely can be used to improve public relations with alumni, it might not matter to you but it could help your buddies.
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Kellogg Class of 2010...still active and willing to help. However, I do not do profile reviews, don't offer predictions on chances and am far to busy to review essays, so save the energy of writing me a PM seeking help for these. If I don't respond to a PM that is not one of the previously mentioned trash can destined messages, please don't take it personally I get so many messages I have a hard to responding to most. The more interesting, compelling, or humorous you message the more likely I am to respond.