Duke Fuqua MBA - Class Profile, Fee, Salary & Curriculum

Duke Fuqua MBA’s reputation as a Marketing and General Management program has been redefined over the past 5 years. Despite the lack of a ‘specialist’ label, the program attracts an older class and a higher percentage of international students, bringing in a diverse international perspective to the cohort.

In this in-depth analysis of Duke Fuqua Full-time MBA program, we cover:

• Duke Fuqua MBA Class Profile
• Duke Fuqua pre-MBA Education
• Duke Fuqua pre-MBA Industry and Function
• Duke Fuqua MBA Fees and Total Costs
• Duke Fuqua MBA Financial Aid, Loans and Scholarships
• Duke Fuqua MBA Curriculum
• Duke Fuqua MBA Concentrations
• Duke Fuqua MBA - Experiential Learning
• Duke Fuqua MBA - Dual and Joint Degrees
• Duke Fuqua Application Process
• Duke Fuqua MBA Salary by Function (2021)
• Duke Fuqua MBA Salary by Industry (2021)
• Duke Fuqua post-MBA Employment by Location (2021)

Duke Fuqua MBA Class Profile

Fuqua’s latest class had a record high GMAT score of 713 – 8 points higher than the previous high seen in 2019. Applications also peaked at 3762, with an acceptance rate of 19%. When most top 20 MBA programs have a 5-year work experience, Duke takes in a slightly older class with nearly 6 years of average experience.

International Students: The 47% international class is the highest for a top MBA program represented by 54 countries. Equally impressive is the 45% class composition from minority communities.

Duke Fuqua pre-MBA Education

Representing 266 academic institutions, Duke MBA has Business (31%) as the most popular pre-MBA undergraduate degree, closely ahead of STEM (28%). Arts/Humanities/Social Sciences (19%) was at third.

Duke Fuqua pre-MBA Industry and Function

Financial Services (14%) and Consulting (13%) were equally represented among the pre-MBA industry & Function whereas applicants from Technology matched with candidates from Analytics (6%) function.

Non-profit and education saw a high representation at Duke (6%) as well - a trend seen in other schools during the pandemic.

The school’s legacy of delivering Certificate in Health Sector Management (HSM) covering the end-to-end ecosystem of Pharma, Policy, Hospitals, Medical Devices, Biotechnology, and Research & Development, accentuated by the need to bring innovative healthcare solutions in a post-pandemic world encouraged 8% from the Hospital and Healthcare background to join Fuqua.

In terms of diversity and experience, Duke has built a unique class.

Duke Fuqua MBA Fees and Total Costs

Duke Fuqua has a standard fee of $70,000 and does not differentiate between domestic and international students. Associated medical costs such as insurance are estimated at $7,666, and the additional costs of educational supplies ($632) and living expenses ($19,256) contribute towards a total cost of up to $97,554. International students would have to account for additional visa expenses and other expenses unique to their travel and housing needs.

Duke Fuqua MBA Financial Aid, Loans and Scholarships

Duke Fuqua has limited scholarship options when compared to other top 20 MBA programs. Social impact entrepreneurship is encouraged through the CASE scholarship and Rex and Ellen Adams Loan Assistance Program. Domestic students, particularly those from the US Army, have access to larger funding and scholarship options than international students.

Fuqua Merit Scholarship

International and domestic students eligible for the Fuqua Merit Scholarship are considered when they apply, provided they demonstrate prior academic achievements, leadership qualities, community involvement, extra-curricular, and professional accomplishments.

Duke Fuqua MBA Curriculum

Core Curriculum

Duke Fuqua requires 13 core courses to be completed in the first year of the MBA program. During the second year, students can tailor their MBA to suit their interests and requirements from 100+ electives. Candidates are encouraged to push their boundaries by seeking exemptions on subjects they know and expanding their understanding of new subjects.

Duke Fuqua MBA Concentrations

Concentrations are divided into functional and topical subjects, completed when 6 electives are passed for each concentration. Although concentrations aren’t necessary, they are worth exploring for contextualized tools, frameworks and improving problem-solving skills. Each of the concentrations strives to provide candidates with a contextualized skillset for their post-MBA function.  

Decision Sciences

Applicable to a variety of fields such as Finance, Consulting, Marketing, or Operations, the decision sciences concentration covers the tools used in decision-making. Candidates are taught optimization, forecasting, and the strategic consequences of these decisions using game theory and statistical tools.

Energy & Environment

Energy and environment are coupled together in this concentration which also ties in business strategy and management with sustainability. An ideal option for those considering the energy industry as a consultant or in an operational role, the concentration includes corporate social responsibility, innovation in response to environmental challenges, and risk management.

Energy Finance

As the only school to offer Energy Finance among the top 20 MBA programs, Energy Finance concentration covers the fundamentals in project finance, markets and trading, corporate finance, and risk management.

Entrepreneurship & Innovation

Through workshops and experiential learning, the concentration encourages candidates to pursue their entrepreneurial dream by breaking down the basics of new venture creation, sourcing funding opportunities and learning about entrepreneurial problem solving through simulations. The participants are also encouraged to take part in the $50,000 “Pitch your idea” competition.

Finance

Fuqua offers three variations under finance – investment finance, corporate finance, or a broader mixture of both investment and corporate finance. Corporate finance provides a deeper understanding and career options in Investment Banking, Venture Capital, and Private Equity. Investment finance focuses on preparing candidates for careers in Asset Management, Private Wealth Management, and Research, Sales, & Trading.

Financial Analysis / Accounting

Usually part of the core curriculum, this concentration helps build future leaders in financial roles. Cost and company valuations, equity analysis, financial strategies, and decision-making tools are taught in this concentration.

FinTech (Financial Technology)

In combination with innovation, entrepreneurship, and the world of finance, this multidisciplinary foundation prepares candidates to set up their own disrupting fintech venture or help an established company to do so. FinTech specific go-to-market strategies and resource acquisition are taught through the concentration.

Leadership & Ethics

This concentration is designed for managers and future leaders of organizations who are trained to be capable thought leaders and can sow the conceptual seeds to deliver business growth. Leadership in combination with ethics teaches candidates to build strong organizations or communities with foundations in inclusivity and diversity.

Management

Candidates with leadership experience and interested in pursuing a career in Management Consulting should strongly consider this concentration as it complements technical skills with strong interpersonal, team-building, and decision-making skills.

Marketing

Fuqua offers two concentrations related to marketing – product management and market analysis and strategy. Product management focuses on physical products as well as services, be it in consumer durables, high-tech markets, business-to-business, or pharmaceuticals. Market analysis and strategy adopts a more general approach and is focused on careers in consulting, strategy (marketing or corporate), general management, and sales.

Operations Management

The operation management concentration focuses on optimizing and improving operational processes, whether they be in supply chain management, retail, inventory, or manufacturing. Candidates choosing this concentration are also taught business analytics and the lean methodology, which can also be applied in Consulting, Entrepreneurship, and General Management.

Social Entrepreneurship

This concentration is for leaders who wish to pursue philanthropic endeavours and create social value, whether through starting their own venture or joining the board of directors for organizations with a social impact focus.

Strategy

Ideal for those who are pursuing strategic consulting roles or for those who are interested in planning and general management roles.

Certificates

Certificates are another mode of specialization at Duke Fuqua. Candidates pursuing a certificate can only pursue one concentration alongside it. There are two certificates offered - one in finance and the other in health sector management.

The certificate in finance focuses on preparing candidates for leadership and management roles in finance, consulting, banking, VC, entrepreneurship, philanthropy, board membership, and service. The certificate in Health Sector management focuses on VC, pharma, entrepreneurship and innovation, biotechnology, and R&D.

Track

Management Science and Technology Management (MSTeM) Track

The MSTeM track is designed to take decision science to the next level for candidates by teaching them how to apply decision science to multiple business contexts. This track prepares candidates for management and leadership roles in consulting, healthcare, technology, manufacturing, finance, and entrepreneurship. Since the track gives the STEM-certified MBA designation that provides an additional 36 months to their visa, international students can leverage it to widen their post-MBA search with an additional $6,000 course fee.

Duke Fuqua MBA - Experiential Learning

Fuqua Client Consulting Practicum (FCCP)

FCCP focuses on client consulting as well as social entrepreneurship, serving local and international clients. The practicum assists students in developing the leadership and contextual knowledge required for problem-solving in a consulting function. Previous projects include empowering street vendors and building schools in India, and developing a go-to-market strategy for a US-based clean energy company in Latin America.

Initiative on Impact Investing (Case i3)

This initiative has a three-pronged approach – the CASE i3 Consulting Practicum (CASE i3CP), the Fuqua Sustainable Impact Student Investment Fund, and the CASE i3 Apprenticeships.

The consulting practicum involves Fuqua MBA students working on one of the 4-7 projects selected annually with a focus on ESG, sustainable finance, and impact investing. Previous projects include working with the Shell Foundation and the Omidyar Network.

The Fuqua Sustainable Impact Student Investment Fund also focuses on ESG and impact through equity research. Candidates make investment pitches to the investment committee – an opportunity to gain hands-on learning for those seeking careers in Asset Management.

As part of the CASE i3 Apprenticeships, an individual student is paired with a mentor organization to work on sourcing, due diligence, and structuring elements of the deal.

Mentored Study Program (MSP)

Lasting for a duration of 12 weeks, the MSP involves studying with an organization aligned with the student’s career aspirations. Previous projects have involved competitive analysis for start-ups, valuation perspectives for a private equity fund, and a strategic development plan for a non-profit.

New Ventures Courses

The New Ventures Courses are designed for students who wish to become entrepreneurs and gain experience in searching for markets for innovation, evaluating the viability of a business model, and developing go-to-market strategies. Previous projects have been in the healthcare industry. For example, the commercialization of manufacturing tiny silicone spheres to improve anti-aging cosmetics and developing medical devices for people with glaucoma.

Duke University Hospital Experiential Learning Practicum (DUHelp)

DUHelp is a partnership program between Duke University Hospital and Fuqua’s Health Sector Management. Students get practical training in making strategic commercial and contextualized decisions in healthcare. Previous projects include streamlining the nurse discharge process, improving the experiences of patients in the emergency waiting room, and refining the current telehealth system through improved strategies.

Global Academic Travel Experience (GATE)

Students have a 6-week intense program covering business from the economic, social, and political perspectives while being present in-person to experience it first-hand for 2 weeks. Team dynamics and leadership challenges are an added experience for the student while seeking solutions. Previous projects were in Argentina, South Africa, China, and Cambodia.

Fuqua On Board

Those who aspire to be on the board of a non-profit will be selected for the position. As a non-voting member of the board, the person would gain first-hand experience of governance and management challenges while coaching and mentoring peers to become effective future community leaders.

Entrepreneurship

The Centre of Entrepreneurship and Innovation at Fuqua offers resources, competitions like Fuqua Fast Pitch, and grants for students wishing to start their ventures post-MBA.

Case-based courses on Entrepreneurship offered are - Entrepreneurial Execution/Planning, Entrepreneurial Strategy, Entrepreneurial Finance, Venture Capital and Private Equity, Managerial Accounting, Real Estate Entrepreneurship, and Marketing of Innovations.

Coupled with core courses such as Entrepreneurial Mindset and Action, students find the coaching and guidance to find growth and development opportunities across a wide range of industries.

Duke Fuqua MBA - Dual and Joint Degrees

JD/MBA

The JD/MBA is a combination of law and business completed in a duration of 4 years. Candidates who opt for this course can expect to gain expertise in Contract Law, Mergers & Acquisitions, Venture Capital, and Corporate Litigation. Career options are not just limited to law or business, but multidisciplinary careers like consulting, VC, and investment banking.

MD/MBA

Conducted in partnership with Duke University's Medical Centre, this joint MD/MBA program exposes students to cutting-edge research and challenges in the healthcare industry. The focus is on understanding the industry, sectors attracting funding, and the challenges of the present health care system. The duration of this dual degree is 5 years, during which students can gain expertise in Management, Research, Education, and Care Delivery.

The program is known for its residency called the Duke's Management and Leadership Pathway.

For 15 to 18 months, students get rigorous clinical exposure along with mentorship and rotational opportunities in management to develop critical leadership skills.

MEM/MF/MBA

Duke's Master of Environmental Management (MEM)/MBA and Master of Forestry (MF)/MBA dual degrees prepares students to navigate complex issues at the intersection of business, energy, and the environment. The scope of this degree is wide and varied - renewable energy, corporate sustainability, carbon/environmental markets, energy finance, or public-private environmental partnerships. Additional classes can be taken from the School of Law, Sanford’s School of Public Policy, and Duke’s Pratt School of Engineering. Support and resources are also offered through the Center for Energy, Development, and the Global Environment (EDGE), Duke University Energy Initiative, and Duke Center for Sustainability and Commerce.

MPP/MBA

This three-year dual degree has a strong focus on social entrepreneurship targeted at those who are keen on running social enterprises. The international network of alumni and industry professionals accelerates the learning process, which is essential to learn the ins and outs of highly regulated energy and finance industries.

The policy part of the degree is taught at Sanford School of Policy with a summer internship in Geneva at United Nations or the World Bank.

Duke Fuqua Application Process

Short-answer Questions and Essays

The first short-answer question of 100 words asks candidates to elaborate on their post-MBA career plans and alternatives.

The first essay question of 750 words requires candidates to detail 25 random things about themselves, as a numbered list, detailing important life experiences, your hobbies, achievements, fun facts, or any experiences that have helped shape the candidate’s values and beliefs.

The second essay question of 500 words is about the Fuqua community and the candidate’s suitability to succeed or contribute to existing clubs and organizations.

The third optional essay is for the candidate to address reasons for academic or professional gaps in their careers or to explain their choice of recommenders if it is not professional.

Recommendation Letter

Duke Fuqua requires only one recommendation letter. Another is allowed, but it is optional. The primary recommendation letter should be in a professional setting, preferably from a supervisor or manager.

Duke Fuqua also considers volunteer or service-oriented roles in which the candidate might have been deeply involved. The recommender is required to answer questions related to the setting or role in which the recommender interacted with the candidate, the candidate’s strengths, personality, and professionalism in comparison to their peers. Most importantly, the candidate’s response to feedback.

Candidates who have completed their education at Fuqua are not only eligible for a student application fee waiver but also can be endorsed by alumni to further strengthen their application.

In addition to the essays and recommendation letters, candidates are also required to submit their resumes and official transcripts detailing their previous education, and GMAT or GRE test scores.

Application Fees and Rounds

The first application round is in November, the second in February, and the third and final round in April. The application fees are $225 USD.

Duke Fuqua MBA Salary by Function (2021)

Because of the focus of the curriculum and experiential learning opportunities centred around building hands-on learning skills in consulting, it comes as no surprise that Consulting was the most popular career choice for Fuqua graduates despite only 13% coming from the function.

Looking at the past 5-year trend, consulting and general management have both dropped by 2% each in terms of the percent of the candidates hired. There has been a sharp drop in finance by 6%, from 25% to 19% in the same period. Marketing and sales have fluctuated over the last 5-year period, the highest seen in 2018 at 18%.

Duke Fuqua MBA Salary by Industry (2021)

Consulting attracted the highest number of post-MBA Fuqua graduates to McKinsey, BCG, Bain, Deloitte, and EY-Parthenon, to count the top consulting recruiters. However, Amazon was the largest employer, bagging 33 of Fuqua’s graduates in the technology sector, followed by Microsoft (9) and Dell (7).

Over the past 5-year, Technology has grown from 19% of all graduates hired in the industry to 27% in the last two years.

In Finance, there has been a 3% dip with Bank of America, Barclays, Morgan Stanley, and Wells Fargo among the top recruiters for this year. Optum was among the top recruiter in Healthcare that saw their popularity increase by 2% in terms of the number of graduates hired since last year.

Duke Fuqua post-MBA Employment by Location (2021)

Out of all the North American cities, Fuqua graduates have chosen employment in New York, followed by Seattle, Atlanta, Chicago, San Francisco, Boston/Silicon Valley, and Washington DC.

If the region-wise breakdown is analyzed, 28% of all jobs accepted were in the West, 23% in the North-East, and 21% in the South. Only 3% of Duke MBA full-time positions were outside the US and in cities such as Shanghai, Shenzhen, Seoul, Paris, Mexico City, and Toronto. The mean annual salary varied by region as well, with Fuqua graduates in North America earning $141,945, roughly $25,648 more than Fuqua graduates in Asia.

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Duke Fuqua MBA