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MbaConfucius
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I visited Fuqua back in April and the Adcom representative touched on this point--it's because Fuqua values fit more than standardized metrics (e.g. GPA, GMAT). Fuqua prides itself on evaluating candidates holistically.
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Agreed. I visited Fuqua last year for 3 days and have kept in touch with current students and alumni. My experience so far has been that, Fuqua values the "fit" more than standardized test scores. You can see the culture flow through and through across their students and alumni.
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Great question. I wondered the same thing when I was applying. Is Duke overrated?

I think the crux of this is that applicants think stat is more important, but students think employment is more important, and alumni think school network is more important. Every ranking places different emphasis on different aspect of the b-school experience. This is the reason Fuqua is #1 in BusinessWeek, and #13 on USNews.

Here's a question for you. Fuqua has similar employment stats as its peer schools, "inspite" of 1) lower student stats, 2) southern location (lower cost of living AND pay), 3) large class size (more difficult to place). What is driving that?
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I will try to answer this question as a current student.
One reason might be that employers don't require and don't really differentiate students of all top MBA programs basing on their hard skills.

All MBA graduates of top schools are taught common skills and course set and employers reasonably conclude that both HBS and Fuqua students know enough about finance/marketing/stategy/etc.

The factors that differentiate students are: soft skills, ability to work well in teams, team leadership skills - all the things in which Fuquans are little bit stronger, when compared to others. And employers value these skills more that your undergrad GPA, that you got 5 years ago.
Because MBA-type jobs in corporations require a lot of communication and team collaboration, and very few focus on your undergrad GPA as a diff. factor. This might give you an idea why Fuqua focuses on "fit factor" that much.

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Plastelin
I will try to answer this question as a current student.
One reason might be that employers don't require and don't really differentiate students of all top MBA programs basing on their hard skills.

All MBA graduates of top schools are taught common skills and course set and employers reasonably conclude that both HBS and Fuqua students know enough about finance/marketing/stategy/etc.

The factors that differentiate students are: soft skills, ability to work well in teams, team leadership skills - all the things in which Fuquans are little bit stronger, when compared to others. And employers value these skills more that your undergrad GPA, that you got 5 years ago.
Because MBA-type jobs in corporations require a lot of communication and team collaboration, and very few focus on your undergrad GPA as a diff. factor. This might give you an idea why Fuqua focuses on "fit factor" that much.

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This person gets it.

Will add just one thing as a recent student an now "employer" and Fuqua alum. Think about it - do test scores/GPA correlate with corporate career success? As in, someone who scored 800 on their GMAT versus another who scored 650. Who's going to be the next VP/SVP/COO/CFO/CEO/founder of a Fortune 500 company? Probably either, neither or both. The point it, you can't tell.

Fuqua is in the business of developing future leaders of the business world, and test scores don't have a causal relationship with leadership, innovative thinking, or collaborative skills. It's there to make sure you can learn in an intense environment and actually graduate, and do well in an analytical role post-MBA. (which is what most MBAs get hired to do)
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I don't know stats for Fuqua. But there MUST be something way important than just stats, regardless which school we are talking about. HBS can easily fill their class with all students> gmat 760 and gpa >3.9, but they didn't do this!
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