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板凳
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发表于 2003-9-21 12:13:00
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Duke Q&A Part 5: The Big Three - Consulting, Finance, Marketing. November 12, 2002 Matt (Boston): Hello. On a percentage basis how are Fuqua students spread over these three concentrations? I assume consulting and finance are falling off a little bit with the economy, are jobs in marketing still strong? Thanks in advance. Mike (Marketing): With regards to marketing, things are still very strong. A great group of companies is still coming to campus for both internships and fulltime positions.
-------------------------------------------------------------------------------- Matt (Boston): Hello. On a percentage basis how are Fuqua students spread over these three concentrations? I assume consulting and finance are falling off a little bit with the economy, are jobs in marketing still strong? Thanks in advance. Dave (Consulting): Matt, hiring at consulting firms is down. Many consulting firms hired more MBAs than they needed in 2001. We expect the hiring numbers to increase over the next two years.
-------------------------------------------------------------------------------- Sam (New York): Can you folks speak about the ground work you had to do in order to land the internships. Mike (Marketing): Fuqua opens a lot of doors, but there is still a lot of work that students have to do to land internships. The first step is to attend the company's info session (with freed food, drinks, and gifts of course!) From there, students can research the company on their own, talk to contacts they made at the presentation, e-mail alumni, or talk to second year students who interned there the year before. Then, there are also trips to visit companies over Fall and Winter breaks.
-------------------------------------------------------------------------------- Matt (Boston): Hello. On a percentage basis how are Fuqua students spread over these three concentrations? I assume consulting and finance are falling off a little bit with the economy, are jobs in marketing still strong? Thanks in advance. Amy Woehr (Finance): The stats from internships for our class were approx: 32% finance (ALL types - corp finance, investment banking, S&T, private equity, etc) 28% marketing 10% consulting (higher in previous years) 9% strategy, business planning, business dev the rest...other such as general management, real estate, law.
-------------------------------------------------------------------------------- Jiaqi Chen (Brooklyn): Dave, I like to learn that, as you worked for Mckinsey as a consultant, usually what kind of problems the customers brought to you? Dave (Consulting): At McKinsey, the client issues are very diverse. I personally worked on growth and channel strategies for my client. Other issues include competitive response, post-merger management, sales force effectiveness, and turnarounds.
-------------------------------------------------------------------------------- Jeff Swindell (Orlando): I realize that all of you are still in the program, but do you regret the decision to leave your careers to pursue an MBA at Fuqua? What has been the biggest "eye-opening" experience that you have had to date? Mike (Marketing): I love Fuqua, and I am so happy that I came back to school. I do not regret leaving my previous job at all. It was definitely a great choice. I think the most eye opening experience has been that the work does not stop when you arrive here. There is so much going on with the career search, classes, and social events that I am constantly busy.
-------------------------------------------------------------------------------- Jeff Swindell (Orlando): I realize that all of you are still in the program, but do you regret the decision to leave your careers to pursue an MBA at Fuqua? What has been the biggest "eye-opening" experience that you have had to date? Dave (Consulting): If you posted a question for me, could you please repost it? The marketing guy deleted all my questions. Thanks.
-------------------------------------------------------------------------------- Julie Young: Hi Mike - I am also an engineer and am thinking about pursuing an MBA in marketing... how did you decide to pursue marketing and how did you know that this field was right for you? How do you like it so far? Mike (Marketing): I enjoyed engineering, but I wanted something more externally focused and that gave me an overall view of the company. That is why I came back. I knew the field was right for me, because I talked to a few people before applying, and I also took a night class in marketing. So far, it has been great. The Marketing Club holds a number of events to help career changers learn about the field and show all the different opportunities available.
-------------------------------------------------------------------------------- Jie Zhou: Dave, I have another question. As a second-year MBA student, how do you feel about the consulting industry this year? Dave (Consulting): We feel confident that there will be more offers available this year. We expect internship hiring to approach normal levels and full-time hires to reach normal levels at the top firms. Some good firms have weathered the storm very well.
-------------------------------------------------------------------------------- Jeff Swindell (Orlando): Amy, Do you think it would be beneficial to pursue the JD/MBA path if you wanted to concentrate on Corporate Finance? Amy Woehr (Finance): Jeff, that's tough to answer because Corporate Finance is very broad. I do not think it is necessary but there is probably some benefit. If you want to be involved in more complex business transactions (M&A, developing partnerships) understanding the legal work may be helpful. As a corporate finance specialist you would have lawyers working with you on any large transaction. I would only pursue it if it is off high interest to you.
-------------------------------------------------------------------------------- lorena aza (lima): Which are the biggest differentiators you can mention of the marketing program in duke, from those in other universities? Mike (Marketing): This is very tough to answer, since I am not too familiar with other MBA programs focus on Marketing. I can tell you that at Duke, there are great marketing professors, a ton of top notch companies recruiting, and a bunch of Marketing Club events throughout the year.
-------------------------------------------------------------------------------- Matt (St. Louis): Dave - Are the major Consulting firms still coming to campus for info sessions and interviews? Can you give a list of consulting companies that visited over the past year? Dave (Consulting): I have personally interviewed with Deloitte, DiamondCluster, AT Kearney, Booz Allen Hamilton, Bain, BCG, and McKinsey. A number of other specialty firms have visited as well. I can't remember all those names off the top of my head.
-------------------------------------------------------------------------------- Jeffrey Cook (Washington, DC): Dave - I am interested in consulting - particularly strategy. Could you comment on your likes and dislikes of your summer experience at McKinsey Dave (Consulting): Jeffrey, my McKinsey experience was excellent. I enjoyed working with talented people on exciting and impactful projects. As expected, the workload is high and really challenges your ability to balance work and non-work activities.
-------------------------------------------------------------------------------- NorthShore (Twin Cities, MN): Is there any way to make this a "live" refresh rather than me having to hit refresh every 15 seconds? Administrator: Unfortunately the auto refresh doesn't work on all browsers ... like IE6. If you find your browser is not updating, you will have no choice but to click the refresh button located on the upper right portion of the screen. Sorry
-------------------------------------------------------------------------------- Amit Garg (Cary): Dave, how good is Fuqua in Consulting (compared to other top schools) and are there any heavyweight professors in this field? Do you have any high-tech companies coming for recruitment (high-tech consulting)? Dave (Consulting): Amit, all of the larger firms allow you to specialize in high tech fields. Because I looked specifically at strategy work, I may not have all the information on high-tech consulting. I do know that Deloitte, AT Kearney and DiamondCluster all handle a large proportion of high-tech work.
-------------------------------------------------------------------------------- Stephen (Atlanta): A mktg question for Mike : based on the first year curriculum at Fuqua, did you feel as prepared for the summer internship as interns from other schools? Mike (Marketing): Oh yeah. The first year core courses that came into play for my summer were Marketing (of course), and also Finance and Management Communications. In term 4, I was able to pick some electives, and they have choices available for whatever field you are entering. I took Marketing Intelligence and Intro to Strategy. As compared to the other interns, I thought I was very well prepared, and I had seen most of the stuff that was thrown at me in my 1st year.
-------------------------------------------------------------------------------- Jeff Swindell (Orlando): Dave, I just had a general question....I guess Marketing guys are the same in all areas of the country....I realize that all of you are still in the program, but do you regret the decision to leave your careers to pursue an MBA at Fuqua? What has been the biggest "eye-opening" experience that you have had to date? Dave (Consulting): Jeff, I have absolutely no regrets about leaving my career. Fuqua offers a great deal of benefits outside of academics and recruiting. We're surrounded by hundreds of friends with tons of options for social interaction. I'm always reminding myself that being busy at school is much more enjoyable than being busy at work. Eye-Opener: I love to hear the stories about my classmates life experiences. Pretty much everyone has some amazing story to tell.
-------------------------------------------------------------------------------- Raghav (Reston): I was wondering if you could tell me about the new courses that have been made part of the curriculum that you think will be of extra importance to you in your careers? Amy Woehr (Finance): There have been some new/revised classes that I think are beneficial to a career in finance: Venture Capital/Private Equity; Fixed Income and Risk Management (aka Advanced Derivatives); Regulatory Environment of Investment Banking to name a few. The traditional roster of finance and accounting courses are also strong. I think you can view them from Fuqua's main web page. Be sure to check under finance and accounting as things like Valuation and Financial Statement Analysis are under accounting because they are applied accounting.
-------------------------------------------------------------------------------- Jeffrey Cook (Washington, DC): How prepared and knowleadgable did each of you feel during your summer internship in comparison to peers you met from other top schools? Was Fuqua able to provide and distinct advantages? Mike (Marketing): I felt very prepared and knowledgeable at FedEx. Besides the typical business classes we took here at Fuqua, we also took a class on computer skills, which really did come up big. Also, we took two classes on presentation. One solo, and the other in a team. Since the majority of internships end with a big presentation to senior management, this was a great class. We even have executives come in to listen to make it as real-life as possible!
-------------------------------------------------------------------------------- Matt (Boston): Dave, how does your consulting classwork differ from that of your peers? What courses does Fuqua offer with this focus? Dave (Consulting): I have taken a general management track at Fuqua. We have several electives that prospective consultants take. The list includes: Market Intelligence, Foundations of Strategy, Business Dynamics, Pricing Strategy, Managing Change, Restructuring. Although we have several options tailored to consulting, I think you can fill your consulting tool box by studying the standard course load.
-------------------------------------------------------------------------------- NorthShore (Twin Cities, MN): What percentage of the class do you suppose is interested in "The Big Three"? Are there non-traditional students out there, perhaps an MD or entrepreneur looking to acquire a general management background? Amy Woehr (Finance): The first question I answered gives all the stats for each large area of interest. There is a sizeable group of students coming from non-traditional backgrounds. We have several MDs because Fuqua has a strong Health Sector Management program. There are also some entrepreneurs and certainly a lot of people coming from small firms and non-profits. We also have some lawyers and joint degree students for JD/MBAs, MD/MBAs, Public Policy/MBA, etc.
-------------------------------------------------------------------------------- Matt (St. Louis): Dave - What type of clubs or extracurricular activities would you recommend in preparation for a consulting career? Dave (Consulting): Matt, any activity that tests your leadership abilities and allows you to make a meaningful impact on the school or any other organization will enhance your consulting skills. Among other activities, I work with the Duke New Venture Clinic to launch new business spin offs from the University and I am a co-captain of the Fuqua ice hockey team.
-------------------------------------------------------------------------------- NorthShore (Twin Cities, MN): What percentage of the class do you suppose is interested in "The Big Three"? Are there non-traditional students out there, perhaps an MD or entrepreneur looking to acquire a general management background? Mike (Marketing): There are a ton of opportunities outside of the "Big 3." Not for profit, General Management, and entrepreneurship are all gaining strength. With regards to not-for-profit, there are some clubs very involved in that field (Net Impact, CASE, and Community Involvement.) There are also career fairs held in the region and a new program in effect where students can sit on the board for a local non-profit. With general management, there is a Symposium on campus, a club, and an increasing number of companies recruiting people in leadership development programs to become managers within 5 years. Finally with entrepreneurship, there is a Startup challenge, a club, and a program to get involved in local start-ups.
-------------------------------------------------------------------------------- Jie Zhou: Dave, were you a consultant before joining Fuqua? For those top consulting firms, do you know anything about their strategic consulting in fine chemical and pharmaceutical industry? (sorry, too many questions) Dave (Consulting): Before Fuqua, I worked for a pharmaceutical company in Research Triangle Park. Most of my functional experience was in financial systems. I know that quite a few general firms have expertise in pharma consulting. We also have specialty firms that come to campus because of our Health Sector Management concentration at Fuqua.
-------------------------------------------------------------------------------- lorena aza (lima): Mike, thanks for your answer. Since I'm interested in pursuing a future in High-tech marketing, which do you think are the big advantages that Fuqua has (location, faculty, recruiters, alumni, etc). Thanks! Mike (Marketing): High-tech is popular here at Fuqua. There is an event called e-vision held every year, where companies come in to talk about the latest in high-tech. There is also a club, and a good number of big players in high-tech come here to recruit. I do know of some people who are getting class credit for interning during the school year with local high-tech firms too.
-------------------------------------------------------------------------------- Jeff Swindell (Orlando): Did any of you consider the Executive Program vs. the full-time program and if so, what made you decide on the Full Time program? What is honest opinion of the executive program there on campus? Amy Woehr (Finance): I considered executive programs in general. You need significant work experience for an executive program. I had six years experience and would have waited longer for the executive programs. My main reason for coming to school full-time was that I wanted the full-time experience. As a full-time student you are immersed in campus life and people at all times and I believe one of the best elements of a MBA program is getting to know your classmates. That said, Fuqua's executive programs are a bit unique. They are very highly regarded, have a fairly large class size, and spend a lot of time on campus. When they are here they stay in the Thomas Center that is connected to Fuqua. Their class is very close. The opinion of the program is high, but the only downside is that there is not a lot of interaction between the students in the two programs. The executive students are very busy when they are on campus.
-------------------------------------------------------------------------------- Matt (St. Louis): Dave - Are there any specific changes in the curriculum or job search process that you anticipate occurring over the next two years in order to address the challenging economy? Dave (Consulting): Matt, we are constantly working with the faculty to make sure our course work matches the needs of consulting firms. The school is very open to student input and is dedicated to continually improving the competitiveness of Fuqua students in the job market. We have had about half a dozen new classes and seminars geared at consulting-specific issues over the last year.
-------------------------------------------------------------------------------- Jenny (Washington DC): Amy - do you think a JD is necessary to do M&A work? Will a top firm still hire an MBA without a JD to do M&A work? Also, what does the market look like for those who wish to pursue a career in M&A work? Amy Woehr (Finance): A JD is not at all necessary to do M&A work. I would guess there are very few with a JD. As an M&A specialist you would be paired with a lawyer as necessary. As for the market for M&A....the large investment banks still come to campus and are actively recruiting. They are hiring less than they used to but that is only temporary due to market conditions. The job search in any fields is more intensive than a few years ago and requires dedicated effort. The clubs, faculty, career office and second-years on campus provide a lot of guidance so that you are not on your own.
-------------------------------------------------------------------------------- NorthShore (Twin Cities, MN): Mike, What is the name of that new program where students can sit on a board for the local non-profit? Is there a URL? I'd be interested to see the non-profits that are participating in the program -- cool! Mike (Marketing): Sorry, but I do not know the name. I tried to find it quickly, but could not. I think it is a part of CASE, which is a new program towards social entrepreneurship. I could not participate, because I will be in Paris for term 3, and it is a year long engagement.
-------------------------------------------------------------------------------- Jenny (Washington DC): Dave - Does the New Venture Clinic launch new business spins offs from the business plan competitions? Can you elaborate on what you mean by spin offs from the University? Dave (Consulting): Jenny, the New Venture Clinic is separate from the Duke Start Up Challenge, which also works to provide exposure and funding for university spawned ideas. The New Venture Clinic identifies a number of promising proprietary technologies and builds a business around the technology to help the company win venture funding or reach independence. The New Venture Clinic works in partnership with the Duke Office of Science and Technology.
-------------------------------------------------------------------------------- Matt (Boston): With your second year classes, how have the teams changed? Are teams still required for some second year classes? Mike (Marketing): A lot of the course work is designed around working in teams, so it is still a big part of the curriculum. I think 2nd years are better at working in teams, so things tend to run smoother than in the 1st year.
-------------------------------------------------------------------------------- Jeff Swindell (Orlando): Are there any strong Entrepreneurial Courses offered? Dave (Consulting): Strong Entrepreneurial Courses: Duke New Venture Clinic Evaluating Entrepreneurial Opportunities Social Entrepreneurship Real Estate Entrepreneurship (New) Building a Small Business
-------------------------------------------------------------------------------- Stephen (Atlanta): Are there a lot of students who come to Fuqua with their mind set on Finance, only to realize that they want to focus on an entirely different discipline? Do a lot of students also change their mind after the internship? Amy Woehr (Finance): In this economy it is best to have an idea of what you want when you get here. If you want to pursue a couple of areas of interest from the beginning you just have to set your mind to it and go for it. It takes a lot of work, but can be done. The "big three" require dedicated effort all fall during your FY. Interviews are in January and resume drops are in Nov/Dec. By the time you drop resumes you will have met company reps several times on campus. If you pursue finance and change your mind in, let's say, December, you will most likely have to pursue an independent job search. This happens with students interested in more unique opportunities like strategy, business development and niche areas of finance such as private equity or investment management. Yes, students change there mind after internships. That's fine, but just requires more work in your SY.
-------------------------------------------------------------------------------- lorena aza (lima): Mike, trying to follow the same line of the question I asked, how is the situation for international students in high tech marketing now? Mike (Marketing): Interesting question, because I know for a fact that one of the big recruiters for high-tech marketing interviewed a lot of internationals. Also, the local internship is open to everyone.
-------------------------------------------------------------------------------- Jeffrey Cook (Washington, DC): With so many folks choosing Finance and Marketing (32% and 28%) - Have you ever had issues in signing up for a particular class you are interested in? Mike (Marketing): When there is a high demand for a class, professors tend to open up new sections, so that everyone gets what they are hoping for. It may take a few weeks, but they are very accommodating.
-------------------------------------------------------------------------------- Raghav (Reston): Dave, I was wondering if you are a member of the consulting club? from your experience what kind of access does it offer to resources in some of the consulting companies? Dave (Consulting): I am a member of the Consulting Club. We have a great deal of interaction with people at a large number of firms. We have alumni at every firm (as far as I know) and they are happy to open their doors and show us around. I have had the opportunity to meet dozens (~100) of consultants/partners at firms across the country.
-------------------------------------------------------------------------------- Jeffrey Cook (Washington, DC): With so many folks choosing Finance and Marketing (32% and 28%) - Have you ever had issues in signing up for a particular class you are interested in? Amy Woehr (Finance): I haven't had any problems. Enrollment starts at a well publicized time. If you log on and enroll immediately (you know in advance what you want), you should get what you want. There are waiting lists, but the administration is also good about opening up additional sections for classes in demand.
-------------------------------------------------------------------------------- Brian (Orlando, Florida): Good Afternoon. Mike - it appears Fuqua offers a strong selection of marketing electives (from classical brand management, CRM, etc). Any personal favorites or ones that you feel have made you better prepared? Mike (Marketing): I am in my 3rd term of being able to choose electives, and one thing I have found is that regardless of whether or not I like a course, I am definitely learning some important stuff that has been applicable in my internship as well as interviews. Some of the more popular courses have been Market Intelligence, Product Management, and High Technology Marketing.
-------------------------------------------------------------------------------- Julie Young: What qualities of the Fuqua program attracted you each to Fuqua? What set Fuqua apart from the other MBA programs you considered? Mike (Marketing): Fuqua is great. It really came down to fit for me. The program is top-notch, and as great group of companies comes to recruit, but it is the little things that brought me in. One, I am engaged, and Fuqua has an awesome situation for partners, where my fiance plays football with the school, played on my basketball team, comes to Marketing sessions with companies, and probably knows more of my classmates than me. Also, there is a great atmosphere here outside of the classroom with Fuqua Fridays, and all the different social events from Holiday parties to intramurals.
-------------------------------------------------------------------------------- Julie Young: What qualities of the Fuqua program attracted you each to Fuqua? What set Fuqua apart from the other MBA programs you considered? Amy Woehr (Finance): I chose Fuqua because of the team environment and school culture. The Durham location isolates us and creates a very strong student body and social life. I also like the broad focus of the school. We are not just a marketing school or just a finance school. We are strong in all major categories. Check you the new Business Week article. We rank high in all categories. Lastly, it is highly student run. The clubs and programs like Admissions Fellows, Career Fellows, and Executive Fellows contribute a lot of campus life.
-------------------------------------------------------------------------------- Jie Zhou: Dave, thank you for your answers. I am interested in pursuing my post-MBA career in strategic consulting for pharmaceutical or biotech industry. what do you think that Fuqua's program would help me reach the goal? Dave (Consulting): Fuqua will definitely give you the resources and the opportunity to meet your career goals. We have an exceptionally large number of opportunities for people who are interested in careers in pharma and biotech. Our Health Sector Management concentration and close proximity to Research Triangle Park help attract health care firms.
-------------------------------------------------------------------------------- Federico Robin Delfino (Capital): Hello, I have just arrived (I'm sorry). This Q is to anyone: did anyone took part of any exchange? How much does Fuqua pushes you to join this? Does it interfere with "recruiting season"? Mike (Marketing): I have not yet gone on exchange yet, but I will be in term 3 to Paris! There is no "push" to do this. Most people just have an interest, and there are a ton of different locations available to fit different goals. Traditional recruiting is in the fall, so if you go in the winter or spring you can avoid recruiting conflicts, but even if you go away in the fall you will still find a job, it might just be more of a self-search.
-------------------------------------------------------------------------------- Jenny (Washington DC): Is it possible to request to sit in a particular kind of class (e.g., finance) for your class visit? Mike (Marketing): When you come to visit, there will be a choice of classes to sign up for. Usually 3 to choose from, but it is pretty much dependent on when you come for what those choices will be. There is a mix of electives and core classes.
-------------------------------------------------------------------------------- Federico Robin Delfino (Capital): Hello, I have just arrived (I'm sorry). This Q is to anyone: did anyone took part of any exchange? How much does Fuqua pushes you to join this? Does it interfere with "recruiting season"? Dave (Consulting): I haven't taken part in an exchange, but I have completed a Global Academic Travel Experience (GATE). We studied Vietnam, Thailand and Hong Kong for six weeks before visiting the countries. In addition to having a great time with my friends, we visited companies, schools and government offices in each of the locations. I consider my GATE experience one of the highlights of my Fuqua career.
-------------------------------------------------------------------------------- Luke (New York): Hello there. I'm an international prospective student. Would you please tell me what is the upper limit of loan to international student without us co-signer. Thanks a lot. Amy Woehr (Finance): I'm sorry, we don't know the answer to that. Please contact the financial aid office. The email below should work, if not you can find them through our main web site. finaid-info@fuqua.duke.edu
-------------------------------------------------------------------------------- Luke (New York): I'm a Chinese and would like to go back to China after graduation to do strategic consulting. Do you think Fuqua's program can not only give me the knowledge and skills necessary for a competent strategic consultant in Chinese market, but also facilitate my transition? Currently I am an public accountant. Thanks. Dave (Consulting): Because I have only looked at domestic firms, I may not be qualified to answer your question. However, we have placed a large number of students in international consulting positions over the years. We have the resources to build a consulting tool kit to help you switch careers. I came to school with a background in accounting/finance and switched to consulting successfully.
-------------------------------------------------------------------------------- Luke (New York): In which way can Fuqua help an international student locate an consulting job in his home country. Dave (Consulting): We have alumni contacts in consulting firms around the world. We can help you contact these people to learn the specific actions you need to take to locate a job in your home country.
-------------------------------------------------------------------------------- Federico Robin Delfino (Capital): Thanks everyone! I'm really looking forward to joining the GATE experience. Regarding Big Three, I have an I-Banking background, but I'm now interested in Media & Entertainment, perhaps as a finance associate. Although I have experience through several deals in the industry, I believe GATE and a suitable summer job will help me insert myself into it. Fuqua is very well known for these Big Three and I'm looking for a well-rounded general management program, but how will the program help me insert myself into the industry? Amy Woehr (Finance): We have Sports and Entertainment Business Association that is making a trip to NYC to visit relevant firms. The club has expanded their effort to increase the number of Fuqua connections in this industry. You can find contact information for the club presidents on our web site under Fuqua Community / Student Life Web Site. Additionally, there is a strong alumni database that can help you with the career search once you are here.
-------------------------------------------------------------------------------- lorena aza (lima):  lease Mike, can you give me a closer perception about the Marketing Practicum? how does it work, is it worthy? Thanks! Mike (Marketing): Unfortunately, I have not taken this class. There is a good summary available under the Duke MBA daytime course page though. http://faculty.fuqua.duke.edu/courses/mba/term3.htm
-------------------------------------------------------------------------------- Matt (Boston): Thanks to the three of you for your time. Maybe with some luck I'll be in your shoes in a couple of years. Take care. Dave (Consulting):  lease come down for a visit and look us up if you get a chance. Good luck.
-------------------------------------------------------------------------------- Luke (New York): Does every student has the opportunity to participate the Student Consulting Practicum and Strategic Planning Practicum? Dave (Consulting): Quite simply, yes. Every student can participate in any program at the school. All you have to do is sign up.
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