Good & Bad News In Duke’s Hiring Stats

by John A. Byrne on

Duke University's Fuqua School of Business is ranked tenth among the best U.S. B-schools by Poets&Quants.

Duke University’s Fuqua School of Business

First, the good news. Duke University’s Fuqua School of Business said that this year’s graduates saw their average starting salaries climb 2.5% to nearly $115,000, up about $3,000 over the Class of 2012. Average signing bonuses also rose to more than $29,000, up from an average $27,000 last year.

As for the bad news, Fuqua’s preliminary employment report showed that the percentage of graduates who had job offers by May 12 fell to 79% for the Class of 2013, down from 87% last year.

MBA hiring by such well-known companies as Apple, Google, Goldman Sachs, IBM, Medtronic, Samsung, Johnson & Johnson, and Credit Suisse was significantly down from Fuqua’s final employment numbers of a year ago. McKinsey, which hired a record 18 last year from Fuqua, brought aboard only seven MBAs this year. Just two Fuqua grads reported back to the school on landing jobs with J&J after a dozen did so last year. Google hired only one Fuqua grad despite having five summer interns last year (see Fuqua MBA hiring over the years).

The school emphasized that its numbers are preliminary and Fuqua expects them to improve into the low 80s when more graduates report back to the school. The decline in grads with job offers was attributed to visa challenges for international students and the fact that more MBAs decided to pursue their own searches for jobs rather than rely on campus recruiting.

Duke’s stats come on the heels of a recent study by the Graduate Management Admission Council which found that Class of 2013 students who acquired a job had to work slightly harder to obtain an offer than last year’s class. Overall, job seekers in the Class of 2013 submitted a median number of 10 resumes and went on three job interviews for a return of two job offers, compared with job seekers in the class of 2012, who submitted a median number of three resumes and went on two job interviews to secure two job offers.

For the third consecutive year, Deloitte remained the top employer of Duke MBAs, hiring 26 graduates. Deloitte also employed 18 summer interns from Fuqua for a total number of 44 hires in the 2012-2013 academic year.

Other consulting firms hiring multiple graduates include Accenture (11), Bain (10), McKinsey (7), Boston Consulting Group (6), PricewaterhouseCoopers (5), A.T. Kearney (5), ZS Associates (3), Booz & Co. (2), and LEK Consulting (2). Nearly a third of the graduating class this year (32%) accepted offers to work in the consulting business. Six of the top 10 employers of graduates this year are consulting firms.

The school’s overall strength in placing its MBAs in consulting made less visible a shift in hiring to a broader range of firms. McKinsey’s drop in hiring to only seven students from 18 was not entirely unexpected because only 9 students did internships at McKinsey last summer. McKinsey uses the internship as a pre-hiring screening tool. In the previous year, 16 Fuqua students were summer interns at McKinsey, setting the stage for the record 18 hires last year.

HIRING BY BOSTON CONSULTING GROUP LESS THAN HALF OF WHAT IT WAS A YEAR AGO

Boston Consulting Group, which hired 13 Fuqua grads last year, hired only six this year. The same was true of ZS Associates which hired six Fuqua MBAs last year but three from the Class of 2013. Even Deloitte, the number one recruiter at Fuqua, hired four fewer MBAs from the school than it did in 2012. Whether this is an early sign of a cutback in MBA hiring by top consulting firms or unique to Fuqua is yet to be seen.

Consulting firms have been steadily increasing their hiring of top ranked MBAs in recent years as investment banks and financial service firms have trimmed their employment rolls and scaled back from recruiting heavy numbers of new employees. The big consulting companies also tend to pay among the highest starting salaries for freshly minted MBA talent.

The preliminary employment numbers from Duke, one of the first of the top business schools to release employment data for the Class of 2013,  are just further evidence of the trend. Unlike many other schools, Fuqua offers far greater detail about the companies hiring both its graduating MBA class and its summer MBA interns. Not surprisingly, the stats also show both the breadth and depth of the school’s success in the MBA job market. Fuqua grads continue to land jobs in an exceptionally wide variety of industries and companies.

(See following page for table of all the major employers and their hires for the past four years)

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  • RealisticMAN

    I’m not a white, but really really wonder why (particularly indians” do complain with the fact that they are the engine of the US IT industry. Why do not they do this amazing inventions and entrepreneurship ideas in INDIA?! because US offer opportunities?! NO, but because they obsessed with the idea of inferiority. Why the hell do not they make bangalore or mumbai is the center of the e economy??! just wonder..

  • RealisticMAN

    I see this shift just happening, when you navigate through many indian mba websites, you see many applicants in dilemma to choose very top US or european schools or top indian schools, I see many turn down Wharton or even harvard for IIMA or ISB. in fact, it widely said in india that if combine IIT with IIM is far better than if combine MIT with HBS, for jobs in INDIA.

  • Don’t_Jump_to_conclusions

    It’s a general trend. It has nothing to do with Fuqua in particular.

  • moron

    I know people at every single b-school (without exception) who hate their career coaches. That must mean that all the b-schools in the world are worthless right? Don’t be the moron that relies on hearsay to disseminate false information about a particular school.

  • RacismIsAliveandWell

    “It’s not just the Right that does this. ‘Cause I’ve known a lot of elite, Northeast establishment Liberals that may not use this as a business model, but deep down, when they look at a guy like me, they look at a … they see a guy automatically who belongs in the second tier and not the top tier … White folks usually don’t see it, but we do, those of us who are minorities … Here, I’ll give you my example, it’s this, ‘You know what, I don’t want you anchoring anymore. I really don’t see you as an anchor, I see you more as a reporter. I see you more as a John Quinones’ You know, the guy on ABC. Thats what he told me, he told me he saw me as John Quinones. Now, did he not realize that he was telling me, ‘when i see you i think of Hispanic reporters?’ ‘Cause in his mind, I can’t be an anchor, an anchor’s what you give the high profile white guys.”

    – Indians and Asians are number crunchers, the consulting associates, the modelers at banks who do the grunt work, the true leadership jobs go to HIGH PROFILE WHITE MEN.

  • Simone

    general trend within US schools, INSEAD is different, it shows better results.

  • HPatel

    Hi Sherlye,

    As an international student, I’ve researched that schools such as Michigan Ross has students who can be racist and unwelcoming to international students such as myself and say things like “he only got in because of his 770 GMAT”.

    How does Fuqua prevent this from happening and what punishment do you give to students who mistreat other students at your school?

    Harsh

  • Insead=shit

    You insead guys are real nut jobs. Who would have thought that attending a school with a 30% acceptance rate could have such a profound effect on a person’s psyche? INSEAD has lower GMAT averages than Cornell. Forget about HBS and Stanford.

  • haha

    Are you insane? The average pay of Harvard grads fell dramatically this year. Fuqua’s average is now only $5,000 short of Harvard’s.

  • Farion

    The average salaries become more and more close than ever among ALL the top 30 schools! Look at Olin or Texas Austin, they are just similar to those of M7!

  • perovianKKL

    so what wrong with being idiot?!

  • FLM879

    IIMA has an average GMAT of 770! It is not about GMAT boy! it is about other things you need to grow up to understand it. Look at INSEAD career statistics to realize how far is it from all the american high schools, I mean bull schools!

  • BC919

    Check your facts, Mr. Hater! I didn’t say the school was worthless. I said that I thought the schools was great. I chose not to join Fuqua because of experiences of current students who were open and honest about sharing them and I give them full points for that. I am sharing an experience on this forum which I know to be true. Are you considering this information false simply on the pretext that you don’t agree with it? If so, I understand your position.

  • Sheryle Dirks

    Hi Harsh, This is a tough question to answer in an online discussion forum, but how diverse we are and how inclusive we are within that diversity are fundamental assets in Fuqua’s culture.

    For example, during the Global Institute, which is a four-week experiential course to begin the program, community and culture are core building blocks, where students from diverse backgrounds are put together on problem-solving teams. Another example is that our student government has an executive cabinet position addressing diversity and inclusion issues from the student perspective.

    If problems occur, Fuqua’s Honor Code and Community Standard would be leveraged to address potential violations. I’m happy to put you in touch with someone in our Daytime Programs Office to learn more if that would be helpful.

  • Sheryle Dirks

    Sharma, we do indeed believe that the DKU campus in China will help raise brand awareness and ultimately job opportunities in Asia. Since we have not yet launched any programs there, it’s a bit soon to say for sure, although that is clearly the goal.

    To address your other question, no, I do not see any correlation between quality of job and GPA, especially since “quality” is so unique and specific to the individual. Especially in this rapidly changing, complex, global economy, companies do indeed need smart people but in that sense, smart is a concept that entails far more than just grades or test scores.

  • Sheryle Dirks

    BC919, I’m sorry to hear that you heard this advice from others and that it influenced your decision to attend another school. We heard this feedback as well and last year, we added significant resources to the Career Management Center and restructured the department to improve support levels and responsiveness to Daytime MBA students.

    For any current/prospective students reading this thread, please don’t rely on email as a primary communication channel to your school’s career center or your mechanism for evaluating the value they can add. It’s like getting medical advice from a doctor by email. Just like doctors spend their time behind closed doors with patients, career coaches see students individually and in groups throughout the day then often attend recruiting events with them at night. As a coach, it’s also difficult to know if the information you’re getting in the student email – often sent by phone while multitasking – provides the complete context necessary to provide thoughtful advice.

    Whatever school you decided to attend, BC919, I hope you are pleased with your choice.

  • KA

    Rival Kellogg??? You Fuqua kids sure do live in your own world. Last year Kellogg placed 55 students at McKinsey and 43 at BCG. This year Fuqua placed 7 at McKinsey and 6 at BCG. That is terrible!!! Our numbers this year will be similar to last year’s. Fuqua is not even close to rivaling Kellogg let alone Booth or CBS. With these numbers, you are closer to the UNC/Emory/UT Austin level than you are to the M7. Fuqua is on the decline.

  • William B.

    really bud? don’t hurt yourself with those big predictions.

  • IhateINSEAD2much

    What is the hell with INSEAD students, fans, staff, or whoever??!!! the topic is about salaries and Duke!! It is NOT about RANKING or COMPARISON!! why on earth would INSEAD people bother shouting here and there???!!! jesus Christ my FHG..thats really bad and pathetic..

  • RossIstheNewRacism

    Rossism – is the new term for the subvert racism that goes on at Michigan. It’s when the white kids in marketing or banking see a minority sign up for interview prep and they merely go through the motions of “helping” that person know he or is she won’t ever get a job at P&G or top banking because they can’t rage like a 23 frat boy or sorority slut. It’s funny how they will not respond to your email if your name is Zhao or Singh but if it was good ol’ Johnny they will go out of their way to only prep you, but make sure the recruiter and all other employees at firm X have a favorable view of you because you fit the “mold” aka you’re white.

  • 2014Applicant

    Well, appears “Ross is Racist” guy is back. Hope you enjoyed your summer vacation. We look forward to you cluttering the comments section of P&Q with your nonsensical attacks on Michigan.

  • GERF3445

    however, he/she have a valid point. not only in this website, in another forums, there were discussions about Ross and Racism.

  • Fuquan ’14

    Harsh, as an international at Fuqua, I found that some industries are “better” to internationals than others. For example, just about all consulting companies hire internationals without any issue. That said, some more niche/smaller MBA recruiting industries (e.g. Energy, non-profit) may have more stringent work authorization requirements.
    In my case, I’m an international student who recruited for consulting and had no issues getting on closed interview lists with top firms, resulting in multiple offers.
    Good luck.

  • FutureStudent

    Don’t rely on anonymous posters with an agenda for your insight into b-schools. Go visit the schools unannounced to see what they are really like.

    “Ross is Racist” guy is a Fuqua student who is trying to disparage Ross to elevate Fuqua. I haven’t even started my applications yet,
    but I already discount anything he says.

    My visit to Ross was amazing and I noticed a lot of mixing between all the students. It’s funny because this article had nothing to do with Ross but this guy just started posting to deflect attention away from the fact that Fuqua just got knocked down to tier 4 in MBB recruiting. McKinsey hiring at Fuqua is down from 18 to 7 this year and BCG is down from 13 to 6. Yikes! Ross is Racist guy must be pissed that his school performed so poorly and now he has to continue to spew slander because Fuqua will lose recruits to Ross based on the employment stats.

  • Anonymous

    There is no evidence showing that this Ross-hater attends Fuqua or any top-tier school, for that matter.

  • FutureStudent

    Well of course, this is an anonymous forum. But if you look back at comments he has made in the past you can figure out that his comments are pro-fuqua and anti-ross. You can then deduce that he is a Fuqua student with the motivations I described above.

  • James300

    Sir, I assume most (if not all) the readers of this specialized website are all professionals and highly qualified people to the degree they really differentiate between naive posts and serious ones. We all know Duke, Fuqua, Michigan Ann Arbor, Ross, and all the schools very well. Ross is a great school and definitely a top tier (tier 1) institution, but so is Fuqua. In fact, in recent years Fuqua had the lead in many rankings. Also, do not forget that Duke is highly regarded private institution and has the prestige that Ross lacks. other than those very soft factors, all of them are great and top notch programs.

  • FutureStudent

    James, I agree with everything you said except maybe you are not giving Michigan’s undergraduate school enough credit. Regardless, I agree that both Fuqua and Ross are top-tier schools and I don’t disparage Fuqua.

    There have been anit-ross comments made from (using my judgement) one bad apple of the Fuqua community. This is not something I can prove since this is an anonymous forum but something I have deduced after reading dozens and dozens of his posts over the last 6-8 months. I was highlighting that people should not take anonymous posters with an agenda seriously but rather visit the schools to get a true sense of what the community is like. That goes for both Ross and Fuqua.

    I was also pointing out that one of the main focuses of the article was that Fuqua has had an unprecedented decline in their MBB recruiting this year. 18 to 7 at McKinsey and 13 to 6 at BCG are significant drops especially when a lot of applicants are interested in the top-tier consulting firms and choosing business schools based on the likelihood of placing at MBB.

  • consultant2

    if someone interested in consulting, then without doubt go for the #1 consulting school INSEAD. in this year’s alone, mckinsey hired 146, 84 are new hire not returning. bcg something around 100..

  • theKomodo

    Let’s not jump into any conclusion – Assuming what you’re saying is true, it could be due to economic trends in the US vs non-US, not McK’s overall recruitment preference in terms of schools.

  • Not A White Guy

    INSEAD also takes far greater amounts of students who don’t speak English as a first language. Just sayin’.

  • C458Ferrari

    of course it is due to the economics situation! It is MASTER of Business, all about business and economy. and in that sense, this year insead experiencing a massive jump in the number of applications, many admission consultants believe that the admission rate will be less than 10%, it was somewhat between 15 to 18% before, but due to the stability in INSEAD recruiting and the ability of its graduates to work anywhere, lost of top recruiters do attend both campuses. and very interestingly, insead graduates did quite well in US market!!

  • Tuck

    Just before we start, I am a Tuckie.

    One visit where Ross controls what you see and do is representative of the community. I will say that I have friends who weren’t too fond of their Ross experience. The comments on racism isn’t that far off according to them. I also have friends who loved it but they were also white while the negatives came from those who were not. It’s not an “n” of 30 but 3-4 Ross minorities who echo those sentiments is pretty solid in my book.

  • ThePrestige

    Michigan like Berkeley, UVA and UNC are public schools and therefore will never be as good or as prestigious as Ivy league or equivalent schools such as Stanford, MIT, Duke, etc.

    In fact, all public schools are crap and only for poor people.

  • 2014Applicant

    Really? Posting inflammatory comments just to get a rise out of the

    commentariat of P&Q? I certainly hope you are not at any of the private schools you mention. You are a horrible representation of the student population at these schools.

  • ThomasWerle

    I am glad Ross is racist. I am a white male who is against affirmative action and all useless liberal social programs.We need to stop preferential treatment to all the brown, yellow, black, etc people. They had minority programs to get them into top undergrads with lower stats. This is Business School and the preferential treatment needs to stop.

  • theKomodo

    Those are most probably at non-US McKinsey and BCG offices.

  • YellowMAN

    giving how you blown up your economy, your boss most likely will be a yellow in shanghai.

  • James300

    he/she is absolutely right. The evidence is quite clear, look at the us news ranking, to see that how the private schools are always on the top.

  • consultant2

    Yes, thats true. but this what makes insead very stable school, in fact, by attending INSEAD you hedge your career better than all the other schools. and when you make an exchange with Wharton, or Kellogg, you in reality have the absolute advantage on opening all doors inside and outside US.

  • MBAisworthless

    Wonder why does the MBA still alive?!!!!

  • BarrackObama

    Data don’t lie nigga. Me went to columbia and hharrrrvud

  • KKKsatRoss

    Go to Fuqua or UNC or Darden or any school but Ross. Indian students do not mix with white kids unless they are born here and are the ones who hate Indians to make themselves look good to be part of the “white” club.

  • JohnAByrne

    Interesting comment here from someone who calls himself Vlad81:

    The drop in the employment has nothing to do with the state of the economy or individual hiring practices of the consulting companies. Fuqua Career Management Center is the problem. Unfortunately for Steve and other CMC veterans, they are no longer relevant, as Fuqua needs aggressive salesmen rather than passive career consultants. The students need more job leads, which means more companies hiring on campus and way more companies hiring internationals. The students need someone to pick up the phone and call up actual companies, convincing them to open more opportunities for Fuquans. Just giving the same career advice over and over again is not helpful. One truly effective coach, I was able to find in the whole CMC is Malcom, as he’s doing exactly what I describe, creates opportunities by putting students in touch with companies.
    The sooner the school let the veterans go, the better it will be for the whole student body. Hopefully, this article will serve as a strong evidence that changes in the Career Management Center are well overdue, and creating sectors with a bunch of directors is not helpful at all.

  • truthorsomethingbeautiful

    Politics, Rampant Corruption and Lack of Law and Order (including property rights).

  • ThomasWerleIsntThinking

    If your mom and sister attended top undergrads, they were likely products of some affirmative action as well. It isn’t just a color thing. Not that that matters to you, as you probably don’t think you’ve ever received any opportunities as a result of some “preferential treatment”…

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