Darden MBA is known for leveraging the case-study method over other forms of teaching tools. The 21-month program attract candidates with proven leadership, as evident in the high percentage of military veterans and international candidates with demonstrable growth in their function and industry. The hands-on learning and the rigor of the curriculum have been validated by the Economist, with the school earning the Best Business Education award – nine years in a row.
In 2020, Darden broke yet another record when the full-time MBA graduates received the highest compensation ever in the school’s history at a time when the global market was reeling under crisis due to the coronavirus pandemic.
In this Darden MBA Analysis, we will cover:
Darden MBA Fee
The total cost of attendance covering the tuition, living costs, and health insurance for an international applicant is $100,778. For non-Virginia residents, it is $99,856, and for Virginia residents, it adds up to $96,856. The tuition fees vary for Virginia residents ($69,600), non-Virginia residents ($72,600) and international students ($72,800). There are 2 semesters per academic year, each of which will require fees to be paid for continued enrolment. In addition to these costs, there is the flat cost of MBA case fees of $1,100 and flat computer fees of $1,300. Living expenses are estimated to be $18,430 per year.
Transportation is estimated to be $1,000 for US residents (Virginia and non-Virginia residents) but $4,000 for international students. Additional costs of health insurance, visa (applicable to international students), and recreation add another $10,000 to the total.
Darden MBA Scholarships and Financial Aid
Financial aid in the form of merit-based scholarships, industry-sponsored scholarships, and loans is available for all applicants.
Loans
For domestic students considering private loans, the UFAA (University of Virginia Financial Aid Application) form is required to be completed and submitted via the student portal. There are two types of Federal Loans, the Federal Direct Unsubsidized Loan for up to $20,500 and the Federal Graduate Plus Loan for anything above the Federal Direct Unsubsidized Loan limit of $20,500, such as tuition fees and living expenses.
Funding for International Students
The Discover Custom Graduate Loan is applicable to those residing in the US, be it domestic or international students, and has a limit of $101,500.
The Prodigy Finance Loan is open to 150 nationalities and offers student loans of up to $223,720, subject to interest rates and a 5% admin fee.
Scholarships
There are 7 competitive scholarships available for students committed to studying at Darden with a less than 10% acceptance rate that covers up to the full cost of attendance. These scholarships require additional application.
Candidates with the potential to excel professionally are offered merit-based scholarships. There are no separate applications.
Scholarships are also available for international students, veterans, academics, DE&I (Diversity, Equity & Inclusion), and career-aligned students.
The need-based scholarships offer a helping hand to the bottom 20% of the class (by assets & income). All sources of taxed and untaxed income will be assessed to qualify for this class of scholarships.
Darden MBA Curriculum
The first year of the program is designed to build teamwork and communication through learnings teams – cohorts of 5-6 students that go through the first year of the learning experience together.
The case studies, simulations, global immersion courses, global consulting projects, Kaizen Project, And Exchange Programs in addition to the core courses in Leadership Communication, Global Economies and Markets, Financial Management and Policies, Accounting for Managers, Marketing, Operations Management, Leading Organizations, Decision Analysis, Business Ethics, Strategic Thinking, and Action, provide the right balance between technical and leadership skills.
The second-year orients the students to build industry expertise through electives. General management students interested in honing their analytical/quantitative skills are offered management science specialization by earning 12 credits from a select group of electives. The specialization is STEM certified, enabling international students with F1 visa status a possibility to work for 36 months in the US post-graduation.
Darden MBA – Career Tracks vs. Theme Tracks
The concentrations are divided into career tracks and theme tracks. Students can pursue as many concentrations as preferred while satisfying the minimum academic requirement in each.
The concentrations are not mentioned in the transcript, but only management science specialization is listed.
Specializations covered in the CAREER TRACK CONCENTRATIONS are Asset Management/Sales & Trading, Corporate Finance/Investment Banking, Entrepreneurship, Marketing, Strategy Consulting, and Supply Chain Management
Specializations covered in the THEME TRACK CONCENTRATIONS are Corporate Innovation, Business Analytics, Business Development and Growth, Innovation for Sustainability, and Global Business.
Darden MBA - Function vs. Industry Focus
Darden offers 100+ electives that are area/function focussed or industry focussed.
Function/Area-focussed electives cover Accounting, Communication, Entrepreneurship and Innovation, Ethics, Finance, Global economies and Markets, Marketing, Quantitative Analysis, Sustainability, Technology Operations Management, Leadership, and Organizational Behavior.
Industry-focussed electives cover Consulting, Energy, Healthcare, Media, Entertainment, Sports, Real Estate, Retail and Luxury goods, Social Enterprise, and Technology.
Darden MBA – Dual Degree
Darden, in collaboration with other schools and departments at the University of Virginia, offers several dual degree programs designed to enhance the candidate's educational profile beyond what could be achieved if the two degrees were pursued independently. Dual degrees are in MBA/MSDS, MBA/SAIS MA, MBA/JD, MBA/MD, MBA/M.Ed, MBA/MPP, MBA/MPH, MBA/MA, MBA/ME, MBA/Ph.D.
Darden MBA - Application Process
The first of the four application rounds at Darden are Early Action, a concept unique to Darden. Early action invites applications from students for whom Darden is one of the top choices for the full-time MBA program. The interested student can fulfill the early action application deadline by completing the personal application page, paying the application fee of $250, uploading the resume, and providing a short answer for the 150 word essay.
Darden MBA – Binding vs. Non-Binding Application (Early Applicants)
The applicants can choose binding or non-binding early application options in the application. The binding option requires the applicant to submit a non-refundable deposit and withdraw all applications from other schools making Darden the only confirmatory choice for pursuing a full-time MBA.
Applicants who choose the non-binding option can apply to other schools in addition to Darden but expect the admissions committee to inform them of their admission decision early on. Though the application in the early action round starts early, there are chances of being waitlisted and rejected as well. The waitlisted candidates are considered for the following three rounds, and rare feedback is provided by the admission committee to improve the candidacy.
Applicants who are rejected from the early action round are not eligible to apply in the following rounds as well.
The early action applicants have added the advantage of choosing when to schedule an open interview in the month between August and September and hence do not have to wait for an invitation. The open interviews take place via zoom meetings.
These applicants are also the first ones to be allotted scholarships before the deposit deadline expires and have a lead in gaining access to pre-matriculation learning modules, networking opportunities, and career resources. The deposit sum of $6000 for the admitted early applicants is higher owing to the earlier notification and flexibility around the interview and to secure their place in the upcoming class. The deposit will be applied to the tuition account upon enrolment.
The traditional round 1, 2, and 3 applications are in the month of October, January, and April, with an interview by invite only. Application checklist includes transcripts, TOEFL/GMAT/GRE/MCAT/LSAT/EA scores (test score is waived in exceptional cases), resume, recommender names, essays, and an application fee of $250.
The consortium for graduate management study is a separate application round for a set of colleges that firmly believe in changing the demography by reducing the underrepresentation of African Americans, Hispanic Americans, and Native Americans in schools and in management. Darden is a member school and has two application deadlines in October and January.
Future scholar program encourages application from exceptional college students for securing their future MBA at Darden. The admitted students can begin MBA after gaining 2,3, or 4 years of work experience. The admitted Future Year Scholars must pay a non-refundable tuition deposit of $500 each year prior to matriculation to secure their place in a future class. They will have to pay the remainder of the tuition deposit for the incoming class, the year in which they matriculate.
Darden MBA - Resume, Recommendation, and Essays
The admission committee requests candidates to submit a one-page resume if under 10 years of professional work experience, highlighting leadership, personal impact, and quantifying the accomplishments wherever possible.
Recommendation Letter: While the admission committee prefers only one professional recommender, an additional recommender who can offer alternate insight into the applicant is also encouraged. A professional recommender is preferred over an academic as there is more accountability and visibility in a professional environment to see how the candidate responded to challenges and demonstrated leadership potential.
Recommenders will be required to fill out a rating matrix of your skills and answer short questions detailing the setting in which the recommender and the candidate interacted the performance of the candidates in comparison to their peers. and an example of constructive feedback with an account of the candidate’s reaction to this feedback.
Essays: Candidates are required to write 5 essay questions with a word limit of 755 words in total. The topics are holistic in nature to determine the capability and nature of the candidate.
The first essay requires the candidate to inform the learning team (made of peers from the same cohort) about skills they would like to share that aren’t on their resume in 150 words.
Candidates have a choice to respond to one of two prompts for the second essay.
The first prompt requires the candidate to elaborate on their role as part of the team and their learning experience.
The second prompt is less narrow in focus and requires candidates to discuss examples of group work in the context of the ‘greater good,’ their motivations behind choosing the relevant cause, in addition, their learning experience. The word limit for the second essay is 200 words.
The third essay is themed on diversity and inclusion. Candidates again have a choice between two prompts. The first prompt is centered around an example of when the candidate gained new knowledge in the context of diversity and inclusion. The candidate is required to elaborate on how their perspective was altered about the topic and their learning experience.
The second prompt directly asks the candidate to provide examples of advocacy in support of a different perspective, identity, or community. The candidate is required to elaborate on how the experience expanded their worldview. The word limit for this essay is 200 words.
The fourth 150-word essay is oriented toward career ambitions in the short and long-term (post-MBA). The candidate must elaborate on how they visualize their ambitions considering the skills they currently possess.
The final essay motivates candidates to think of worldwide opportunities that could be gained through the Darden community. The candidate is required to specify the location in 5 words and how their motivations and experience will be beneficial to their peers. The essay forces candidates to evaluate different alternatives and choose their location for their global assignment.
There are additional fields for community involvement and hobbies that the candidate should be motivated to discuss. Candidates are also directed to explore Charlottesville, where Darden School of Business is located, and answer the question of what they are most keen to explore in 25 words.
The application also includes a standard career goal and a unique travel destination question.
Darden Full-time MBA Class Profile (2022 Graduating Class)
The class size has noticeably decreased from a high of 404 in 2022 to 351 in 2023. The women represent 40% of the class. The international community stands at 40%, 21% are domestic minorities, and 52 were consortium members - a record for Darden.
The average age is 28 yrs. with an average work experience of 5 yrs. The average undergraduate GPA is 3.52, and the average GRE/GMAT score is 321/715. 7% of the class are military veterans.
Darden Post-MBA Salary (2020 vs. 2019)
On comparing the year 2019 with 2020 on the offers received by 3 months of graduation, the former year saw a higher intake of 97% compared to the latter at 93%. 2020 saw a huge increase in the average median salary of $143,000 compared to $135,000 previously.
The median sign-on bonus remained at $30,000.
The incoming graduates understood the economic and market challenges of the pandemic and showed great resilience in procuring 100% summer internship that provided future recruitment as 53% of the class of 2020 received full-time job offers directly from a summer internship. 1.5% of the class started a new business.
Consulting (39%) attracted the highest candidates, followed by finance (20%) and general management (17%) functions in 2020 though the latter two functions have seen a dip compared to the previous year’s high.
Marketing/Sales at Darden have high takers at 13% compared to top US schools. The compensation in every function has increased or has remained the same and is highest for consulting at $165,000.
Darden MBA Salary by Function
| Function | 2020 | 2019 |
|---|---|---|
| Consulting | 39%, $165,000 | 36.2%, $158,000 |
| Finance/Accounting | 20%, $150,000 | 24.0%, $150,000 |
| General management | 17%, $125,000 | 18.5%, $125,000 |
| Human resources | 1%, $106,500 | 0.3% |
| Information technology | 3%, $140,000 | 3.8%, $130,000 |
| Legal services | 2%, $190,000 | |
| Marketing/Sales | 13%, $124,000 | 14.6%, $120,000 |
| Operations/Logistics | 4%, $121,000 | 1.7%, $115,400 |
The hiring at consulting has seen a consistent increase from 32% in 2018 to 41% in 2020. The reverse declining trend was seen for the financial services from 26% in 2018 to 19% in 2020. 58% of those entering the financial services industry accepted full-time offers in investment banking with an average starting salary of $148,125. The technology sector, which saw a dip in 2019 at 15% from the previous high of 18%, regained the loss in 2020 by hiring 20% of the class.
Darden MBA Salary by Industry
| Industry | 2020 | 2019 |
|---|---|---|
| Consulting | 41%, $165,000 | 35.5%, $160,000 |
| Consumer packaged goods | 3%, $107,500 | 2.8%, $109,000 |
| Energy | 1%, $112,500 | 1.4%, $120,000 |
| Financial services | 19%, $150,000 | 24.4%, $145,000 |
| Health care (including products and services) | 2%, $120,000 | 2.8%, $120,000 |
| Legal services | 2%, $190,000 | |
| Manufacturing | 3%, $125,000 | 4.2%, $116,157 |
| Media/Entertainment | 1% | 0.3% |
| Non-profit | 1%, $95,000 | 0.3% |
| Real estate | 1% | 1.7%, $115,000 |
| Retail | 5%, $120,000 | 7.3%, $127,500 |
| Technology | 20%, $130,000 | 15.0%, $120,000 |
| Transportation/Logistics services | 1%, $104,004 | 1.4%, $116,250 |
Darden MBA Placements – North America Break Down
95.5% of graduates of the full-time MBA class of 2020 chose North America as their job destination since the region offered a median compensation of $150,000, with Midwest attracting $160,000 while the lowest ($130,000) on the West Coast of the US.
Darden MBA – Employment for International Students
91% of international students with non-permanent work authorization were offered a job within three months of graduation. Post-MBA full-time graduates with permanent work authorization attracted a higher median salary package of $150,000, whereas this figure was $20,000 lower for those without permanent work authorization. However, if we factor in visa sponsorship costs, it is a close call.
90.6% of international students (non-permanent work authorization holders) reported a signing bonus, which is higher than 87.1%. The median signing bonus was $30,000.
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