Duke Fuqua, pronounced “Duke Few-Kwa,” as opposed to “Duke Foo-Kwa, is the business school of Duke University in Durham, North Carolina. It was established in 1969. In 1980, the school was named after J. B. Fuqua (1918-2006), who gifted it $10 million.
Duke University was a sort of alma mater to Fuqua—as a teenager, he had borrowed books on finance and banking from the university library, getting them delivered by post. Fuqua never went to college but taught himself. Duke’s support was obviously adequate: Fuqua later started his own business, a small brick-manufacturing company, which went on to become a multi-billion-dollar conglomerate.
That was a slice of history. Now here are 16 other facts about the b-school that every aspiring international student should know.
Durham, Duke Fuqua’s home that lies between beautiful mountains and sunny beaches, offers the best of city, suburban, and rural living to its 1.3 million residents.
It is part of the Triangle metropolitan area that also includes Raleigh and Chapel Hill, both university towns. The cost of living in Durham is low, and there are plenty of opportunities for fun activities—parks, wildlife, museums, eateries, and shopping centers. Must-see places, such as Washington, DC, are only a day-trip away.
Fuqua Daytime MBA secured top US rankings in the 2015 lists of Bloomberg BusinessWeek (8th), Poets and Quants (11th), and Forbes 12th, and the US 2016 lists of US News and World Report (12th) and The Financial Times (12th; FT world ranking 21st). In 2014, BusinessWeek ranked the Daytime program (see below) the best of its kind in the US.
No. Duke Fuqua is not an Ivy League school. But it has strong overlapping traits with Ivy League institutions. Duke Fuqua professors work in harmony in their teaching and research, and use interscholastic methods, bringing business knowledge to health, environment, and policy issues.
The professors choose the teaching method most appropriate for a course, using a blend of lectures, discussions, and case studies. They ensure the active participation of each student, so that everyone is able to share their knowledge and experience.
Fuqua has been consistently ranked No. 1 in intellectual capital by Bloomberg Businessweek. Apart from senior faculty, headed by the Dean, Bill Boulding, the school has a Board of Visitors comprising 60 top-level executives from global majors such as Coca Cola, Citigroup, FedEx, McKinsey, and Johnson and Johnson. The board, which includes a few Indian businessmen, functions as an advisory body.
Fuqua takes pride in creating graduates with a broad worldview and competitive advantage. The “Daytime MBA” is Fuqua’s traditional, full-time MBA program. It is conducted over 22 months with ten core courses and over 100 electives. Other MBA programs include Cross Continent MBA and Global Executive MBA. Fuqua also runs a Weekend Executive MBA program and Executive Education modules, besides one-year Master of Management Studies and Master of Quantitative Management programs.
The full-time MBA program starts with a Global Institute course that develops a collaborative approach among students, which helps them function in global professional environments. The program then moves on to building general management skills in the business areas of finance, economics, and marketing.
A travel experience course provides students experiential learning in the US and outside, while a client-consulting course exposes students to the requirements of international and domestic industries.
Fuqua has integrated the MBA curriculum with business studies involving the economies of India, China, UAE, Latin America, UK, and Russia. Through an entrepreneurship course, students learn how to define, plan, launch, and fund new business ideas as part of teams comprising students, teachers, and professionals.
Fuqua’s academic objectives go beyond creating technically competent managers who can thrive in a global economy. The school aims at developing “consequential leaders” who can demonstrate not only efficiency and purpose but also character.
The other qualities that Fuqua looks for—from accountability and empathy to humility and trust—are listed in detail on the school’s website (see the “Why Fuqua” link listed in Resources below).
The Daytime course involves a significant financial investment. The first-year tuition for students starting their program in 2016 was $63,600.
Other educational expenses ($6,000), cost of educational supplies ($1,300), and student living expenses ($18,000) take the “total cost of attendance” (TCA) for the first year to about $89,000. The TCA for the second year is about $2,000 less.
Scholarships and financial aid, and a combination of both, are available. The Fuqua Financial Office provides assistance to students.
All applicants are considered for merit scholarship based on their academic record, leadership qualities, extracurricular interests, and professional accomplishments.
Keller scholarships (funded by Fuqua, endowments, and corporate donors) are the most prestigious, and are awarded based on academic excellence, community service, and leadership initiatives.
Fuqua offers “no-cosignor” loans to international students. Students admitted during 2016 were eligible to borrow up to 80 percent of their total cost of attendance.
Daytime alumni who work full-time for selected government organizations and nonprofits are eligible for education loan forgiveness schemes, and students who opt for the social sector are eligible for special financial assistance programs.
Perhaps, one feature of the school that stands out while browsing Fuqua’s website is the focus on integrity in professional and personal life.
For Fuqua, a leader of consequence, while performing professional tasks, also observes business ethics and the simple principles of honorable conduct and honesty.
The school has evolved a detailed charter of “community standards” that it expects its students to adhere to.
Fuqua ensures diversity in its classroom. A recent MBA class included a cancer activist who had raised $200,000, a stand-up comedian, a calligrapher who has displayed his work at the Louvre, a math lover who has memorized pi to 500 places, and a competitive eater.
Here are the stats from a typical Daytime class profile:
|Number of students||437|
|Average age||29 years|
|International students||40 percent|
|GMAT score range||640-750 (middle 80 percent of students)|
|GPA||3 – 3.83 (middle 80 percent)|
|Majors||32 percent engineering and natural sciences
29 percent business and accounting
23 percent liberal arts
15 percent economics
|Average work experience||5 years|
Fuqua has a Career Management Center that helps students define their career path, prepares them to reach their career goals, and puts them in touch with prospective employers. Personal career coaches, webinars, and other resources are available to students to enable them to integrate their personalities, interests, and motivations with their career objectives. The resources are available not only during the course but also when needed throughout an entire career.
McKinsey (24 students hired), Deloitte (21), Microsoft (19), Boston Consulting Group (17), and Amazon (15) were the top employers from Fuqua’s Daytime Class of 2015.
The career center at Fuqua provides Daytime international students with a global perspective and helps them position themselves as strong candidates for jobs within the US.
It may be possible for international students to get Duke-sponsored summer internships and full-time employment for a certain period under work authorization sponsored by Duke.
The career center can help students interview for positions outside the US on campus or through videoconferencing. Various Duke students’ clubs also facilitate job search outside the US.
According to Payscale, the average annual salary ranges between $113,000 and $165,000 depending on the position. On average, marketing VPs earn $148,000 annually, marketing directors $138,000, management consultants $115,000, and product managers $104,000.
Fuqua has an impressive list of famous alumni, which includes Tim Cook, Apple CEO; Melinda Gates, Co-Founder of Bill and Melinda Gates Foundation; W. Bruce Johnson, who was interim President and CEO of Sears Holdings; and Ranjana Clark, Head of Transaction Banking, MUFG Americas Holdings.
References: 1, 2, 3, 4, 5, 6, 7, 8, 9 | Image credit: Duke Fuqua Blog