stormbringer
While statistics and rankings can paint a picture, I think there are also some intangibles to consider when assessing a school. Here are the reasons why I think Duke's brand equity is not as strong some of the higher ranked schools:
1. It's a ~40 year old business school. The first bunch of graduates are just about retiring. When the school started out, it would not have attracted the highest calibre applicants. It is only over time that the Fuqua alumni base became stronger, more accomplished, successful and influential. This greatly determines brand perception. Compare this to the really old and established business schools who have had years and years of graduates (also consider class size. HBS, Kellogg and Columbia lead the pack). I'd like to see what happens to the Duke brand and ranking 15-20 years from now.
2. Duke is recognised first for its undergrad and then everything else, especially when you consider Point 1. Compare this to a school like Harvard which is equally known for business, undergrad, law, public policy or a school which a strongly scholarly reputation and a powerful intellectual heritage underpinned by several Nobel laureates like Chicago. Strategic brand management and a strong alumni base will determine if this can change.
3. All things considered, Durham as a location isn't aspirational. MBA candidates are by and large excitable and enthusiastic people who seek opportunities constantly and these are better available in cities like New York and Chicago, particularly if you consider finance. This will always be something that will put Duke at a disadvantage.
4. Many rankings (especially that of The Economist) gives great weightage to the average salary after graduating. This is necessarily higher when it comes to finance schools and that would explain why (in addition to other factors, of course) all the finance schools are clustered at the top. As a largely marketing and consulting school, Duke is at a disadvantage.
5. This point is more subject to opinion than others, but brand perception of elite schools (not just business schools) often correlates with how arrogant the students tend to be. With the warm and friendly Fuqua spirit and its geographical location and small college town feel, it is hard to think of Duke as a scary and formidable brand.
That said, Duke is an excellent school for what I want to do and I'd love to get an offer of admission tomorrow! All the best to everyone waiting with me!
1. While you're correct that Fuqua is a younger b-school than most of its peers, that makes its ascension in the rankings even more impressive. I'm not sure how you would even begin to measure the quality of their early classes, but I think your statement, while perhaps true, isn't well supported by any evidence. Some notable Fuqua alumni include: Harsha Agadi, former Pres. & CEO of Church's Chicken; John Allison IV, Chairman and former CEO of BB&T; Kerrii Anderson, former CEO and President of Wendy's International, Inc.; Jack Bovender Jr., former Chairman & CEO of HCA; Jonathan Browning, U.S. CEO of Volkswagen; Timothy Cook, COO and Former Acting CEO of Apple, Inc.; Thomas Finke, Chairman and CEO of Babson Capital Mgmt.; Melinda Gates, former Microsoft Exec., Co-Founder of the Bill and Melinda Gates Foundation, wife of Bill Gates; Eric Haas, CEO of Altruist Financial Advisors, LLC; Hank Halter, CFO of Delta Air Lines; W. Bruce Johnson, Interim CEO and President, Sears Holdings Corp.; Tim Kasbe, CIO of Sears Holdings Corp.; L. Kevin Kelly, CEO of Heidrick and Struggles; Jeff Kip, CFO of Panera Bread; Michael W. Lamach, President, Chairman, and CEO of Ingersoll Rand; J. Richard Leaman III, Former Chairman and Global Head of Investment Banking, UBS; Ron Nicol, Senior Partner and Managing Director, Boston Consulting Group (BCG); Frank Riddick, III, Former CEO, Formica Corp.; Mark Rosenbaum, CFO of MySpace; Ahmad Sharaf, Chairman of the Dubai Mercantile Exchange; Malvinder Mohan Singh, Chairman of Religare Enterprises Lmtd. (16th richest man in India); Shivinder Mohan Singh, Managing Director, Fortis Healthcare Limited, (16th richest man in India); Sam Solomon, President and CEO of Coleman Co.; Terry Thompson, COO of Mercer; John Walters, President & COO of Hartford Life; and Pamela White, CFO of Victoria's Secret. This is a small sample of Fuqua graduates. I realize that other top b-schools could compile a similar, and in some cases perhaps a more impressive list of the positions held by their graduates.
2. I disagree with this point. Duke is probably known for basketball first and then everything else. While Duke has an excellent undergraduate program, they also have highly rated, world-class graduate programs in law and medicine (in addition to business), among others. Duke's faculty has also, within the last few years, been ranked #1 in intellectual capital. Whether the strength of Fuqua's faculty is widely known amongst the general public is up for debate, but I suspect amongst academics and recruiters, Duke's faculty is recognized as being among the best.
3. Duke isn't in New York, Palo Alto, Boston or Chicago. Of course since most of us are coming from large cities and will end up in large cities after graduation, many of us are perfectly happy with the idea of living in a smaller, and more affordable, city for two years prior to returning to big city life. The Research Triangle is also one of the premier regions for tech and bio-tech research in the world. It isn't a disadvantage being near universities and companies operating on cutting edge technologies. Fuqua works to pair its students with entrepreneurs, start-ups and local VC firms giving them an opportunity to gain experience before graduating and allowing Duke to leverage the wealth of resources in the immediate area. Culturally, I don't think Durham and the Research Triangle can compete with larger cities, but the area still has excellent restaurants, an abundance of outdoor activities in close proximity, all of the cultural activities afforded by the regions world-class institutions and arguably the best basketball in the country.
4. I haven't closely compared the salaries of Duke grads to those of other top b-schools. While Duke places a large percentage of their grads in finance and many Fuqua alumni end up in the NE, where salaries are often higher, I'm sure some programs place a higher percentage of their grads in finance and in the NE. This is a bit misleading though IMO, because salary figures aren't adjusted for cost of living and most salary statistics don't include end of year compensation or a total compensation figure. This has two effects, as far as I can tell. First, it ignores the fact that a base salary of $100,000.00 outside of NYC is worth a lot more than one in NY when adjusted for cost of living. Second, it is misleading in a way that supports your theory. If finance professionals receive a large portion of their compensation in their year end bonus and salary stats don't accurately reflect those bonuses, then the median salary numbers are probably even higher than published for those schools that place more of their graduates at large, well paying financial firms. I'm not sure how much of a conclusion we can safely draw based on the figures published. At the end of the day, if you want to work in finance, I think a degree from Fuqua will get you there and at least you won't be one of the countless Wharton/HBS grads all competing for the same few slots at top tier firms.
5. Tuck is a top tier b-school by most metrics and its students have a similar reputation for collegiality and approachability. I'm not sure being a cocky prick makes a person's b-school any better. It just makes that person a dick.
I'm not impressed or intimidated by HBS or Wharton at all. I've known bright people that have gone to both institutions and I've also known folks who graduated from those and similar programs that are either not very smart or are so socially inept that their careers have effectively stalled. At 440 students in their incoming class, Fuqua is about as large a program as I was willing to consider. I wouldn't be happy at a school like HBS/Wharton/Booth that has 700 or 800 students in their incoming class or a program that actively recruits recent college graduates or aims for a median age of 25-26. Part of what makes b-school a valuable experience imo is the interaction with ones peers. While it is possible to have phenomenal WE after only a couple of years or at a young age, I suspect that would be more the exception than the rule. Again, it all comes down to fit. Is Fuqua as prestigious a b-school as some of its peers? While the answer probably depends on what you're interested in, in many ways, most of us would probably say no. But as you pointed out, it is an excellent school and the right fit for many MBA applicants. I also think it's a school that will continue to improve vis a vis other top programs, over time.
Sorry for the long rant. I'm obviously a little bored at work this morning.
23 Mar 2011, 11:54
tough choices all around. 
