Fuqua STeM Virtual Information Session

– Hi everyone, I’m Shari Hubert, Associate Dean of Admissions here at Duke’s Fuqua School of Business. I’m so excited to have you join us today. We’re going to talk about an exciting new curricular offering here at Fuqua, and I had
wanted to let you know, for those of you who
have not already applied, but plan to apply in Round
Two, by attending this session you’ll qualify for our
application waiver, as well. I’d now like to turn it
over to our distinguished Senior Associate Dean, Russ Morgan. – Thanks Shari, thanks
for joining us today. I’m Russ Morgan, I’m Senior Associate Dean for the Full-Time Programs here at Fuqua. Part of my role is, I get
to work on our curriculum, think about the concentrations, and the certificates we have, and the new MSTeM Certificate
falls in my purview. Excited to talk to you a little bit about the MSTeM Certificate today. Then, Shari and I would
love to take questions around this or anything that
you have as we finish up. The plan today, I’m going to
jump in kind of at a high level and talk a little about
our overall curriculum. I want to give you just
a little bit of guidance in terms of what the whole program looks like and then we’ll begin to get into the Concentrations and Certificates. Then, really focus on what the MSTeM is. Let’s jump right in, as I
mentioned I’m going to start first with the overall Duke MBA
experience to help you fully appreciate what does it
mean to get a concentration or certificate here as part of your MBA. At this stage, we
recognize you’re interested in an MBA and looking at
the prospect of interrupting what I expect are already
very successful careers in order to make this
investment in yourself. One of the aspects of getting an MBA is that you’re going
to have an opportunity to build deep competence, but
we hope that that experience is going to be far more than that for you. If you get the right match
of the school with yourself and you commit yourself to it, it should be a
transformational experience. You should develop as a
leader and here at Fuqua, we’re going to focus on your development as a collaborative leader,
someone who can stretch, get the most out of
themselves and make the people around them and the teams
that they work with better. To set the environment that
supports that development, where you’re going to
get breadth of exposure across disciplines, depth of
competence within disciplines, and develop as a leader,
we balance what is a really early structured
experience, a core curriculum with more significant
flexibility and choice, once you have that foundation. The slide has a lot on
it, but wanted to use that to illustrate that you can
see the dark blue area, really that summer experience
for the Global Institute that we have and then the
first fall that you have, that’s going to primarily be core classes. Those are going to be classes
that we prescribe for you. Part of what we’re going
to be building out, is the idea of what does it mean to be a collaborative
leader, begin to establish what it takes to be effective in that, also set kind of an
interdisciplinary base. There’s a base across all
of our academic disciplines that we want you to have a foundation in. We want everyone to have
this common foundation before we allow you to
go into the electives. So what you see though, is
that spring of your first year, fall of your second year, and spring of your second year are
almost all electives. You have one remaining core class in the spring of your first
year, the Operations class, but outside of that you
have a lot of choice. What’s reflected here is that choice, there’s lots of opportunity that you have to development co-curricularly, but curricularly a lot of the
decisions will be up to you. I use that last slide to
illustrate that in our curriculum, we’re going to first build the foundation, and then allow a lot of
time to take electives. As you evaluate how you
maximize the opportunity you have to take electives,
we’re going to provide significant guidance about how you can think about developing expertise or more focused competence
in an area or in areas. Constructs we have here at Fuqua are very much like undergraduate majors and we’ve organized them around what we call, Concentrations
and Certificates. The Concentrations are, we have 14 of the Concentrations and
they’re six classes each, a little bit of breadth,
a little bit of depth. Then, we have three Certificates that are going to require between
eight and 11 classes. The Certificates are a
little bit more robust in the sense of the classes
that are included in that. When you come to Fuqua, you can graduate with just the MBA
degree, you don’t have to have any Concentration or Certificate. We’re going to allow you to
choose up to two of these, and frequently students
will make one choice around a Concentration or
Certificate that captures what they want to do as they first leave Fuqua, their early career focus. Then they might have a longer term focus. Something like, something
like Leadership and Ethics might be a longer term
focus, but might have a Product Management focus
when they first leave here. MSTeM here is associated
with a separate additional field of study, and so
if you complete this, you’re going to graduate with
both a General Management and the Management Science Field of Study. We’re really excited about this. This is the first variant
field of study that we have. You’ll see in the slide that I
have of the 17 Concentrations and Certificates, the top
16 are associated with just the General Business
Administration Management. Then MSTeM is associated with the Management Science Field of Study. Again, if you graduate with MSTeM, you’ll get both those fields of study. With any of the other
Concentrations or Certificates, you’ll get our traditional MBA associated Business Administration
and General Management. The next four slides are going to get you into what the Certificate
looks like and the coursework. One thing you should notices
as I go through this, is that there’s breadth
and depth, and so both were important to us and we
feel are captured in our design. The three elements as we
were putting this together, that we felt were critically important to capture are that the coursework in the Certificate should
be cross disciplinary. Second, that it includes some coursework that’s more focused on
tools and underlying models and I’ll go through
this just a little bit. Third, and that it also
include coursework related to the application of these tools. Especially, as they connect to management of technology, you’ll see. The result here is that we have
a certificate that requires taking a minimum of eight
classes with at least five of those being what we’ve
labeled as these tools, are more the model, model related courses, and at least three courses
that are applications. Across these next three slides, you can see that we have
10 areas represented. Eight of those are our
core academic areas. Then we have cross-functional areas, so you’ll see a health
area with one class. Then we have an interdisciplinary
class that by definition crosses the different
disciplines at Fuqua. Part of the breadth here is that you’ll also have to take at
least three of these areas. We’re looking at, and
saying, you can’t just focus on one particular area
where in terms here. Alright, the next three
pages list the coursework by the academic area of the course. You’ll see that some of the
areas are going to be more heavily represented as tools
and some are going to be more heavily represented as applications. These courses you can
reference separately. I’m not going to read through
this in a lot of detail, but I thought it’d be useful
just to kind of walk through, go through this relatively
quickly, but give you an idea of what potential
coursework could look like. You can see on this first slide
that the areas represented are Accounting, Decision
Science, and Finance. In Accounting, well what would
be relevant in Accounting? Well, the Valuation class is
going to be more tools related whereas Financial Statement Analysis is going to be more application oriented. The three Decision Science classes are going to be more tools, and so on the nature of that area, it’s going to be more
tool and model based. We have a Decision Models class, Forecasting, Data
Analytics, and then within Finance, a little bit of both again. You’ll see a few tools
courses, the Derivatives, Investments and Corporate Finance class. In the Applications
area, a Raising Capital and Financial Technologies class. Here we have, I mentioned
Interdisciplinary Class, this class is an interesting class, it’s focused on innovation
and cryptoventure. It introduces our students to blockchain. We’re fortunate enough to have
an amazing faculty overall. We’ve got a faculty member
here who has deep expertise and was the, we were the
first business school to have a blockchain focus course, and that’s represented
here as one of the tools. We recently, last year
launched an application class in a specific industry and that’s our Health Analytics Class. We’ll be offering that again this year. Again, the idea of analytics
as a tool, but also an application, how we’re
beginning to represent that. Management may seem less STEM related, but the critical framework’s
here for Decision Making that fit well on the Certificate. You’ll see the Managing Innovation and Power and Politics
there, and then within Managerial Economics,
the Competitive Analysis and applications of Game Theory. – Actually Russ, there are two
questions that just came in. I thought they were kind
of relevant to where you are right now and talking about it. The first one was around:
Are there any prerequisites from a quantitative perspective, such as coding, that you would need in order to apply for this Certification? – That’s a fabulous question,
and so what we’ve found is that it does help to
have programming background. Particularly in R for
the Data Analytics class. Most of the classes
don’t require an aptitude in programming, but what
we’ve done this year based on feedback from the class two years ago, was prior to our Data Analytics class, this year is we offered a bootcamp. We had a two day, eight
hours on a Tuesday, eight hours on Wednesday
before the term started, where we had a faculty member go through and teach in particular
R, and applications in R. We’re looking at this,
and so what programming would give us is the
potential, maybe for some of our classes to go an additional step. What we’re trying to figure out is how important is that piece
in some of these classes. In the finance area, Python
is increasingly important and I don’t think necessarily
that our graduates need to have deep
expertise in programming, but what we’re finding is
that it might be helpful in illustrating and demonstrating some of the tools and applying
some of the tools, that having the programming
experience is very helpful. – Okay great, thanks, and
then the other one came in a little earlier and it
was around: What’s the overlap between the Health Sector
Management Certificate and MSTeM and do students ever
able to kind of do both? – You can do both and we have
had a few students do both. The trade-off is that we give you this abundance of electives and I think that’s a real selling point for Fuqua. How are you going to use those electives? If you look at the MSTeM, it’s going to require eight classes. You’re going to have about 15 classes of electives if you don’t overload. You can take even more if you overload. There’s not a lot of overlap in terms of the courses that you take for the Health Sector Management Certificate and the MSTeM Certificate,
but you can do both. There’s a little bit of overlap. You can take advantage of that overlap, but you also have the ability to say, okay I’m going to schedule my electives in a way that I can do both of these. Then you’ll have maybe a
little bit of residual capacity left to choose a few other
electives outside that. – Okay great, thanks.
– Awesome. Alright, I’ll just finish
up the coursework here. Again, this is something
that you can reference. I don’t want to belabor getting into too much detail here, but
the Marketing Operations and Strategy areas are
obviously important. Within Operations, a Marketing
of Innovations class, very tools oriented, and
then a Market Research and Strategy of Tactics
and Pricing are included. Operations is principally
included in Management Science typically, and we’ve got a
Supply Chain Management class, and an Operations Strategy class here. Then, rounding it out with Strategy, you can see Entrepreneurial Strategy, Emerging Market Strategy,
and Strategic Modeling. It’s a fabulous set of courses,
and part of the structure here is that students have a
latitude to make some choices within the framework we’ve provided. We’ve prescribed some of
this, but if you reflect on what I just went through
with you, you’re going to choose five tools from 10
classes, 10 tools classes. You’re going to choose three applications from 13 applications classes,
and then the only other requirement is to choose these classes that include at least three subject areas across these 10, so that
you get some breadth. You don’t have to make
any decisions right now. You don’t have to make any decisions about your Concentration or Certificate when you apply or even
when you start here. Most students choose
these in their second year and as long as you meet the requirements you can register with our registrars up until a few weeks before
graduation for these. Alright, I know that
everyone in this session’s not an international student,
but there’s some points specific to international students that I do want to make now. The first is I would state is obvious, but it’s worth directly
stating because I think it’s a few things build
out and that’s that U.S. Homeland Security considers
that international students are here to study, not to work. Having said that, academic study does include practical training
and you’re likely familiar with this at this point,
but there are going to be two categories of practical
training where getting your MBA, we’ve got a way to introduce
a work authorization for you. The first is Curricular
Practical Training or CPT, and that’s typically a summer internship. You can take a summer
internship, just like a domestic student you’re going to get
paid for the internship. The only requirement that
we have is there’s going to be some light coursework,
a few things that you provide us, just to reflect that it is connected to your academic studies. The second is Optional
Practical Training or OPT. That’s typically going to
be used after you graduate. You could opt-in to using
it before you graduate. For almost 100% of our students still wait and use that after they graduate. The traditional MBA graduate
OPT work training period’s going to be 12 months, so
where we start to circle back with MSTeM here, is that
under certain situations, in particular STEM related
fields and study of work, study and work, the degree
convey extra 24 months of OPT, for a total of 36 months of OPT. The next couple slides,
I just want to illustrate this and make sure that’s clear. If you look at the different
OPT scenarios for a minute. Under the first scenario
which you can think of as a general OPT, you
graduate with an MBA. You either have no
Concentrations or Certificates or you complete any of our Concentrations or Certificates, other than the MSTeM. You find employment,
hopefully be your dream job and as long as that job’s
related to your MBA studies, you’re going to be entitled
to 12 months of OPT. If you’re interested
in staying in the U.S., you can apply for the H-1B
visa during that time, and then potentially extend
those work privileges. Under the second scenario with MSTeM, you graduate with our MBA,
but you also take coursework to earn the MSTeM Certificate. This, as I said before is
a different field of study than the General Business Field of Study. And you’ll graduate with both, so it’s sort of like
having a double major. Any student who completes
the Field of Study MSTeM associated with
Management Science here and finds employment
that’s directly related to the qualifying MBA MSTeM degree, will qualify for the OPT
extension for another 24 months. As I said before, that’s 36 months total. From a practical standpoint,
the 36 month OPT period is going to reduce uncertainty
for the MSTeM graduate given this longer period of
time connected to the OPT, and the additional chances
in the H-1B lottery. This is obviously going to
be valued by our graduates, but want you to also
recognize that employers are on the other side of the market. They’re going to value the
enhanced employment stability this provides, so with
this, you can imagine they’re going to have greater assurance of retaining the talent that they recruit. Our last slide here before
we get to questions, just summarizes what we see as some important trends that we’ve seen that connect to the MSTeM Field of Study. These are going to be more
overall for MBA graduates, but I thought it was
worth mentioning here, given that they align
well with the tech area, the tech field, that’s going
to be supported by a lot of the coursework that we
have in the MSTeM Certificate. What we’ve increasingly
seen in our graduates is that they are getting and accepting opportunities in the tech sector. The sector’s been trending
up for several years for us and I think for
the industry overall. Last year, we had 28% of our MBA graduates take a job in the tech sector. Our top employer list,
if you take a look at it, and some of this is on our website, and it includes a lot of
the tech heavyweights. Amazon was our number
one employer last year. They hired the most Fuqua
graduates last year. Microsoft was in the top
five, if you look at the list Google, Dell, Cisco, Apple,
Adobe are all well represented. I went back and I looked
at some of the roles that the class of 2018
MSTeM graduates accepted, and just looking through those, a few representative
ones: Supply Chain Manager at Johnson & Johnson, and at Walmart; a Technical Product Manager at Dell; a Supply Manager, and a
Demand Manager at Apple; Technology Solutions
Specialist at Microsoft; Technical Product Manager at Amazon. There’s a lot of opportunity,
a lot of that opportunity we’re seeing connecting to MSTeM really is in the tech field, but
we have a lot of people that go into consulting,
and although consulting’s not necessarily going to
be connected to MSTeM, there are a number of analytic and tech based roles that connect there. We see it really working well in terms of what it does going from Fuqua and our academic curriculum
to career success. Alright, we’ll wrap up
the presentation here. We hope the discussion has
helped you better understand positioning of MSTeM and the curriculum, and the potential courses
that you might take. At this point, we’ll go
into whatever questions they have Shari.
– Absolutely. You’ve actually answered
a lot of the questions that have come in through
your presentation. One in particular was, what’s
the cost of the course? Is there a separate cost than
just the normal Daytime MBA? – Once you come in here for the MBA, there’s no additional cost for anything. The nice thing about that is,
any choice of Concentrations, any choice of any of the Certificates, you do those, you pay one fee for the MBA. As I mentioned before, maybe
this person that wanted to do HSM, the Health Sector
Management and MSTeM wants to take an overload at some point, we don’t charge by the course. We charge one fee for the MBA. You can take overload, you
can add up in one term, cut back in another term,
you’ve got a lot of flexibility. – Perfect, and there’s
another question about, do I apply separately? No,
you’re applied to our Daytime MBA program, and as Russ had mentioned, as you’re in the program,
probably your second year you’ll start to think about,
do you want to also then register for this MSTeM Certificate. There’s no separate
application on the front end. – Right, and that might be
the most confusing thing about this, is that
Certificate means something different depending on what school you may have gone to or what you’re doing. Here, Certificate is
like a deep major for us. It’s the language that we
use, but you think of it as a field of study, and it
really is just the idea if you’re familiar with an
undergraduate institution of a major, it really is like a major. – Mm-hmm, but you still get your MBA right?
– Exactly. – Another question that
was interesting was, you had talked a little bit
about the career support and the types of STEM jobs which is great, can you share a little
bit about the rationale for why MSTeM, and it’s
interesting this individual asked, why MSTeM relative to
say, Business Analytics or Private Equity Certificate. Business Analytics is
essentially what this is, but can you just talk
about why did the school decide to pursue this certificate? – Yeah, I think the alignment with our MBA is really the starting point
for this and why we would do this versus something
in Business Analytics. We actually have a one year program, a Master of Quantitative
Management that really is focused on more on analytics and you
get less depth and breadth, in terms of general management. What we wanted to have here,
are really well prepared leaders, who also can
overlay on top of that some expertise in analytics
and technology management. You can imagine, we’re holding
you accountable essentially to all the things from our core curriculum and the breadth that we
expect of our MBA graduates. We are going to ask you and
push you to develop as a leader. This idea of collaborative
leadership is embedded in this, and so what are our strengths? We’re trying to leverage our strengths, and then overlay on them this
faculty expertise we have, that also supports the analytics
and technology management. – Okay great, excellent, let’s see. I haven’t chosen a Certificate
in my application form, so could we choose it
again after admission? Yup, we talked about that,
talk a little bit more maybe about the career support that one can expect to get as it relates to this. – Yeah, there’s great career support here. We’ve got a terrific
Career Management Center, with that, each of our
sectors has a sector director, and a staff that works in terms of, you think of our organization
as they’re going to be a lot of people who will separately
support your development, they’ll help you prepare more generally. Think about how do your
represent yourself, in terms of your resume, and
cover letters, and networking, and those things, and
then from there we have expertise within each of these sectors. The Tech Sector would have
a staff that’s going to be well versed in understanding the employers in there, what it takes to prepare, what the timing looks
like, a road map for that. You can imagine, you can
go from there to marketing or maybe to finance,
and to the other areas. What we’ve tried to do is make
sure that whatever interests you have, we’re going to have you covered. Something more tech related is something that we certainly think is important. The stats I went through,
again from a percentage basis and from a trend, tech is
increasingly important. We are increasingly trying to track that and put resources toward that. – Great, thank you, let’s see if any other new questions have come in. Is there a separate
scholarship consideration if one chooses to pursue MSTeM? For all of our individuals who apply, you’re automatically considered for merit based scholarships,
so there wouldn’t be a separate MSTeM scholarship,
but you would be considered for a merit based scholarship, as long as you applied to the MBA program. That’s an automatic kind
of, you don’t have to apply separately for scholarship consideration. – Yup.
– Yeah. I think that’s it right now,
unless other questions come in. We have a little bit more
time, so if you have any last minute questions, feel free to ask. They can be on the MSTeM Certificate. They can be on the admissions process in general or career support, anything. If not, then we’ll kind of wrap it up. – Can they be on weather in Durham? – Yeah.
(laughs) Yeah, you can have one talk about weather. – It’s fabulous.
– Yeah. – Fall, fall weather here right now is perfect out.
– Halloween will be 73 degrees tomorrow, so we’re very
excited (laughs) about that. Alrighty, so I think that
wraps up our questions. I just want to thank you
Russ really for taking time to explain the newest of
our curricular offerings. I want to thank all of you out there, I know it’s morning for some people, night for others, and for joining us. I wanted to remind you again
for attending the session, you will receive a application fee waiver if you choose to apply in
the rounds two or three. I also wanted to put in a plug,
we’re going to be traveling around the world with our Dean
Bill Boulding, and myself. We’re traveling to Singapore,
Hong Kong, London, and Dubai coming up over the next couple of months. If you’re in any of
those particular cities around the world, as well as Miami, or can travel to those cities,
please join us as we talk about kind of the impact of
Duke doing business better, and the value of some of the
curricular offerings that we just discussed today, alrighty, thanks so much Russ.
– Thanks so much, everybody.

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