Well, I went to a state college full of middle-class students, so there were no prestigious, nationally-renowned fraternities promising what would now be called "networking" to aid in my future career.
Supposedly, joining a fraternity or sorority promotes a student's social life while fostering a sense of 'brotherhood' or 'sisterhood,' giving the member a feeling of belonging. However, much of the "social life" that I was aware of, through collegiate friends who were members of fraternities, seemed to revolve heavily around consumption of large amounts of alcohol--I'd guess it was somewhat similar with sororities, although I wasn't closely acquainted with any sorority girls.
(Obviously, I never joined a fraternity, although I certainly could have--the ones at my state college were hardly all that exclusive.)
As to the spanking-oriented aspects, not all of the fraternities engaged in paddling of pledges at that time (1970s), although I believe a couple of them did. Since I was heterosexual and strongly sexualized getting my behind whacked (even back then), being paddled by other males held no appeal for me--if I could've gotten my wallopings from sorority 'sisters' instead, I'd probably have been eager to pledge a fraternity, primarily for the spankings.
Most of the fraternity 'brothers' I knew seemed like nice guys, a few of them were fairly close friends of mine, but I never felt any need to join a fraternity myself.
Writing a rather contrived college-based story, in which a young man gets his bare bottom blistered by one or more sorority girls, that I *do* feel to be necessary on occasion...

--C.K.