1 UVA Darden in the Northern Virginia / D.C. Area CHARLOTTESVILLE, VA | WASHINGTON, DC AREA | SAN FRANCISCO | SHANGHAI, CHINA Background materials to Board of Visitors discussion Intentionally left blank
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UVA Darden in the Northern Virginia / D.C. Area
C H A R L O T T E S V I L L E , VA | W A S H I N G T O N , D C A R E A | S A N F R A N C I S C O | S H A N G H A I , C H I N A
Background materials to Board of Visitors discussion
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Darden summary facts
THE UNIVERSITY OF VIRGINIA
DARDEN SCHOOL OF BUSINESS
IMPROVES THE WORLD BY
DEVELOPING AND INSPIRING
RESPONSIBLE LEADERS AND BY
ADVANCING KNOWLEDGE.
M I S S I O N S TAT E M E N T
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STRATEGIC PRIORITIES1. Attract exceptional students by delivering and
enhancing the world’s best, most accessible, global education experience with top ROI.
2. Attract, retain and develop diverse, world-class faculty and staff talent.
3. Advance scholarly research and practitioner-relevant thought leadership.
4. Expand competitive infrastructure, global brand and network at UVA and beyond.
5. Expand Darden’s resources, via outstanding executive education, advancement, technology and innovation.
S T R AT E G Y: D A R D E N W O R L D W I D E 2 0 2 6 S T R AT E G I C P L A N
In 2017 , Darden adopted a s t ra teg ic p lan w i th f ive s t ra teg ic pr ior i t ies to pursue the school ’s miss ion and v is ion .
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To invest in our s t ra teg ic pr ior i t ies , Darden has adopted the fo l lowing capi ta l campaign pr ior i t ies to ta l ing $400 mi l l ion .
Faculty Excellence, Thought Leadership and Program InnovationEndowed ChairsBruner Fund for Faculty ExcellenceInstitutes and Centers of ExcellenceResearch Library – Data Science LabProgram innovation and technology seed fund
$120 million
Master Plan and Technology/InnovationThe Commons Darden Inn & Conference CenterUVA Darden Sands Family Grounds, Rosslyn
$95 million
Scholarships and Student Experience Need-based financial aid (current use or endowed)Merit scholarships (current use or endowed)Darden Worldwide CDC and AdmissionsResidential housing
$120 million
Darden Annual Fund Unrestricted funding for emerging opportunities
$65 million
C A P I T A L C A M PA I G N P L A N S
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*Forecast for incoming class at beginning of academic year as of 23 July 2018.
• D.C. area (Rosslyn) Executive MBA launched successfully in 2016 and now at ~150 students annually.
• Very focused on delivery of MBA in two formats, full-time (residential) and Executive (Charlottesville and D.C. area — Rosslyn).
• Executive format includes Global Executive MBA (GEMBA) option for students in both locations.
• Darden also has a very small PhD program (10-15 students).
• Darden and McIntire launching new MS in Business Analytics jointly in August 2018 based in Rosslyn.
Darden degree of fer ings have been pr imar i ly focused on the MBA. S ince 2000 , MBA enro l lment has a lmost doubled through growth of the fu l l - t ime MBA and Execut ive MBA expansion.
D E G R E E O F F E R I N G S
488648 680 667
115 125 123
130 14830
0
200
400
600
800
1000
1200
2000 2010 2017 2018*
Masters Degree Enrollment
MBA G/EMBA-Charlottesville
G/EMBA-Rosslyn MSBA
763
935968
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Darden MBA students are increas ingly academica l ly exce l lent , d iverse and g lobal , and achieve outstanding career success.
M B A S T U D E N T P R O F I L E
Residential MBA class of 2000 2019
MBA Full-Time Enrollment 237 326
Average GMAT 685 713
Average GPA 3.36 3.5
Women 29% 39%
Underrepresented Minority 6% 12%
International (%) 21% 34%
International (#) 50 110C A R E E R P L A C E M E N T A M O N G T O P 2 0 B -S C H O O L S– U.S. News & World Report, 2017
C A R E E R S U C C E S STop hiring companies
Technology (Amazon, Google and Microsoft Corp.)
Financial Services (JP Morgan Chase & Co., Credit Suisse, Evercore, Goldman Sachs)
Industry (Johnson & Johnson, E&J Gallo Winery, Danaher Corp.)
Consulting (Accenture, Bain & Co., Boston Consulting Group, McKinsey & Co.)
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• Enrollment growth of 38% since 2000.
• Several all-time records in classes of 2019, 2020, including:
• Highest % women
• Highest # of minorities
• Highest GMAT average
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Technology highlights in MBA• 35 online courses offered (up from five
courses five years ago) including fully asynchronous electives
• 1/3 of Executive MBA content delivered synchronous online
• 100% of Executive MBA students take fully asynchronous courses
• Online simulations in core MBA classes
O N L I N E L E A R N I N G
Technology collaborationsOnline non-degree offerings* • Coursera: >2 million enrolled learners
and >1 million active learners
• 208 countries and territories
• 78% of learners non-U.S.
• 13 stand-alone online courses offered
• 3 Darden specializations offered online
Darden cont inues to invest , innovate and sca le educat ion technology to be a t the leading edge of 21 st century pract ice .
*Certificates, microcredentials, specializations, Massively Open Online Courses
Fully asynchronous content and courses allow scale across programs.
Global, scalable impact that has generated millions of dollars in revenue.
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F A C U LT Y & T H O U G H T L E A D E R S H I P
Darden’s facul ty is consis tent ly recognized for de l iver ing the best bus iness educat ion exper ience in the wor ld .
• Darden has 77 full-time faculty members: 50 tenured, 18 tenure-track and nine general faculty, in addition to joint appointments with other schools, but faces a wave of retirements. Darden also has 30-35 adjuncts teaching annually.
• Darden has hired 21 faculty in the last three years and has expanded joint and cluster hiring, partnering with the College, School of Engineering and Applied Sciences, and the Data Science Institute to attract and hire exceptional faculty.
• Darden’s holistic, high-engagement learning experience is based on the case method, integration of the core curriculum and unparalleled access to faculty.
• Darden professors develop their own content, producing innovative course materials and publishing award-winning case studies through Darden Business Publishing, the second largest case publisher in North America.
• Darden faculty teaches more than 3,000 executives annually through Darden Executive Education. In the past four years, Darden has delivered executive education to learners from more than half the Fortune 100 companies.
M B A E D U C AT I O NE X P E R I E N C E– The Economist, 2011-17
M O S T S AT I S F I E DM B A S T U D E N T S– Forbes, 2015-16
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E X E C U T I V E E D U C AT I O N FA C U LT Y– Financial Times, 2014-18
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M B A FA C U LT Y– Princeton Review, 20171#
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C O L L A B O R AT I O N A C R O S S G R O U N D S
Darden co l laborat ion w i th in UVA and contr ibut ion to Vi rg in ia are pr ior i t ies .
Ways in which Darden collaborates with UVA:
• New joint MS in Business Analytics degree with McIntire launched in 2018.
• Teaching classes on the Lawn/Central Grounds, jointly offered courses and faculty appointments
• ~40 UVA dual-degree students each year: new dual degree with Data Science Institute as of 2017 and dual degrees with Medicine, Nursing, Public Policy, Education, Arts & Sciences, Law, and Engineering
• Tri-sector Leadership Fellows with Law and Batten
• University-wide platforms and resources: Inn at Darden, Sands Family Grounds in Rosslyn, event and classrooms
• Darden/Curry Partnership for Leaders in Education
• i.Lab Incubator and entrepreneurship resources
• UVA China Office support and partnership
With the Commonwealth of Virginia:
• 228 Virginia students enrolled in MBA programs in 2017-18.
• Virginia Community College System partnership to provide online content
• Presence in Rosslyn, Virginia
• Resilience Awards for Virginia business owners
• Entrepreneurship education with Virginia Department of Corrections
• UVA, Darden and Dominion solar power partnership
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The business educat ion market is fac ing s ign i f icant d isrupt ion and a major shakeout dr iven by some of the fo l lowing t rends.
1. The MBA market is flat globally with more competitors entering the market, particularly in Asia.
2. There is a rise in specialized degrees and an acceleration of demand from outside the U.S.
3. Rankings and scale are driving competitive dynamics with resources following increased scale.
4. Schools are making significant capital investments to meet student needs, technological requirements and expand presence in key metro regions.
5. Resources are increasingly flowing to the top schools.
6. There is a global race for talent, and schools are making significant investments in scholarships to attract and yield strong and diverse classes.
7. Digital disruption is increasing with the rise of fully online degrees, entrance to the non-degree market by professional services firms, and proliferation of online credentialing.
8. Recent uncertainty related to U.S. visa and immigration policy has affected demand and career opportunities for international students.
C O M P E T I T I V E L A N D S C A P E : T R E N D S S H A P I N G T H E G L O B A L M A R K E T P L A C E F O R B U S I N E S S E D U C AT I O N
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C O M P E T I T I V E L A N D S C A P E : O U R P E E R S A R E N O T S TA N D I N G S T I L L
Capital Campaigns Building Boom
Darden operates in a h ighly compet i t ive landscape for resources and ta lent w i th peer schools making s ign i f icant investments in technology and new fac i l i t ies .
Technology and Innovation
Harvard Business School: $1.3B*
Wharton: $850M
Michigan (Ross): $400M*
UNC (Kenan-Flagler): $400M
Chicago (Booth): $850M
Columbia Business School: $500M*
UCLA: $300M*Campaign recently completed
Cornell Tech
Kellogg
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Darden in the Northern Virginia / D.C. area background and current state
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Over the last three years, Darden has made strategic investments in the Northern Virginia / D.C. area building on the recommendations of the D.C. area task force.
2015
• August: Dean Beardsley charges task force with report to the faculty and Trustees on D.C. area.
• October: D.C. task force reports to Darden faculty and Darden Foundation Board of Trustees.
• December: Darden faculty vote to launch Executive MBA section in D.C. area.
2016
• February: Marketing for D.C. area ExecMBAbegins.
• April: Greg Fairchild appointed head of D.C.‐area initiatives.
• August: ExecMBA starts in Rosslyn at full capacity.
• October: Darden offices open at 1100 Wilson Blvd. housing program support, admissions and advancement.
2017
• Sands family commits $5M to new Sands Family Grounds to open in 2018.
• August: Darden and McIntire faculties approve MSBA program.
• Second ExecMBA cohort begins in Rosslyn.
• September: Darden Foundation signs lease for Sands Family Grounds at 1100 Wilson Blvd.
2018
• March: Phase I of Sands Family Grounds opens.
• May: Greg Fairchild named UVA Director of Northern Virginia operations.
• July: Phase II of Sands Family Grounds opens.
• August: MSBA begins in Rosslyn.
D A R D E N I N N O R T H E R N VA / D . C . A R E A
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$5.7M
$25.75M
$250K
D A R D E N I N N O R T H E R N VA / D . C . A R E A
The D.C. area task force presented severa l key ins ights that have in formed Darden st ra tegy in the area .
• Attractive demographics and business environment:
• 48.8% of workers are in management roles, compared to 31.3% nationwide
• 35.6% of people work in business, financial and information services
• From 2001-2011 D.C. saw 8% private sector growth
• Top public and private companies have headquarters in the D.C. area: Danaher, Capital One, Marriott,
Mars and Hilton, among others
• Existing activities to build on:
• Washington D.C. area is largest concentration of UVA and Darden alumni in one metro area.
• As of 2015, Darden was already actively engaged in the D.C. area through faculty research, media
partnerships, alumni engagement, and electives delivered in the region for MBA students.
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There are many identified benefits/opportunities for Darden in Northern Virginia:
Engage corporate clusters
Opportunities for engagement with existing Industry Associations, Roundtables
Draw on local expertise
D.C. area represents significant concentration of PhDs and other subject-matter experts
Breadth and Diversity of touchpoints
There are a range of ways to engage alumni and other stakeholders in the region.
Global gateway As the seat of U.S. government, there is a significant embassy community and global IGOs headquartered in D.C. (World Bank, IFC)
Key media market Opportunities to be part of the national conversation through D.C. media channels and raise profile of the school.
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1. Easy transportation access for prospective students, reducing travel time; thousands of flights to Dulles and Reagan airports plus train links.
2. Preempting competition from other leading schools in D.C. area.
3. UVA Darden identified as highest-ranked and highest-profile MBA program vs. possible D.C.-area competitors.
4. Market demand and growth opportunity for degree and non-degree/executive education formats.
5. Strength of UVA and Darden brand and alumni concentration in region.
6. Rise of flexible MBA and other business degree formats.
D A R D E N I N N O R T H E R N VA / D . C . A R E A
The following were identified as the strategic rationale for further engagement in the Northern Virginia / D.C. metro area by Darden:
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We are a l ready see ing s ign i f icant impact for Darden f rom Nor thern Vi rg in ia / D .C. area in i t ia t ives
D A R D E N I N N O R T H E R N VA / D . C . A R E A : I N D I C AT I O N S O F P R O G R E S S
In the last three years, Darden has seen increasing engagement in the Northern Virginia / D.C. area:- Degree programs: ~230 degree students (Exec MBA and MSBA) enrolled in Rosslyn-delivered
programs August 2016-August 2018.- Executive Education: 10 open enrollment programs and 12 custom programs delivered in full
or in part in D.C. area to 500+ participants over last three years.- Facilities: From March-June 2018, Darden has hosted 3,300+ guests at the Sands Family
Grounds including Darden, UVA and other events, and has bookings for almost 10,000+ guests in the coming academic year.
The Sands Family Grounds provides a significant platform compared to prior space:- Starting in 2016, Darden occupied 5,000 square feet of office space and held MBA and
Executive Education classes at third-party facilities. Six FTEs were based in the space.- Darden now has 40,000 square feet including offices, classroom and meeting facilities, hosts
all MBA, MSBA and Executive Education classes on-site, and provides a platform for other UVA events. 15 FTEs are based in the new space (including hospitality).
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Working Elements of D.C. Area Strategy
Mission. Establish Darden as the preeminent business school in the nexus of business andpublic policy. Leverage Darden’s key competency in engaged pedagogy for a differentiableoffering to DC stakeholders, inside and outside the classroom.
Opportunities for pursuit. Penetrate the regional market and global gateway for access tonew resources. Build awareness of Darden’s presence, expertise in business and policyrelevant areas, consulting capabilities and unique pedagogical experience.
Capabilities we deliver. Design and deliver customized educational and researchprograms. Field public events for key stakeholders. Engage with thought-leadingindividuals and organizations on a range of topics (e.g., collaborative research, whitepapers).
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Darden (16,000+ alumni)
1. No. 1: Best education experience (The Economist, 2011–17)
2. No. 1: Faculty (Financial Times, 2014–18, Princeton Review, 2017)
3. No. 1: Student rating of MBA program (The Economist, 2017)
4. No. 1: Satisfaction with MBA education (Forbes, 2017–18)
5. No. 1: Career preparedness (Forbes, 2015–16)
6. No. 1: Campus environment (Princeton Review, 2017)
7. No. 1: General management program (Financial Times, 2013–17)
8. No. 1: Global “overseas study” (The Economist, 2017)
9. No. 1: Leading MBA program in the field of business ethics (Business & Society, 2011–12)
Charlottesville, Virginia (Population 210,000)
10. No. 1: Fastest-growing venture capital city in USA (The National Venture Capital Association, 2015–16)
11. Best town in USA for food lovers (Rand McNally)
12. Top USA wine travel destination (Travel & Leisure)
13. Top USA college town (Travelers Today)
14. Best place to live in the USA (Cities Ranked & Rated)
15. No. 3: USA’s happiest city (National Geographic/Gallop)
University of Virginia (200,000+ alumni)
16. Most beautiful college campus in USA (Best College Reviews)
17. Only university UNESCO World Heritage Site in North America
18. A “Public Ivy” ranked No. 1, 2 or 3 public university in USA for decades (U.S. News & World Report)
19. Safest campus of a Top 50 U.S. university; No. 4 safest U.S. campus overall (ADT Security Top 25 Safest U.S. Universities)
20. No. 1 graduation rate in USA for African-Americans for 16 years (Journal of Blacks in Higher Education)
21. Capital One Cup winner: Best college sports program in the USA
www.darden.virginia.eduCHARLOTTESVILLE | WASHINGTON DC AREA | SAN FRANCISCO | SHANGHAI
21 Incredible Reasons TO ATTEND THE UNIVERSITY OF VIRGINIA
DARDEN SCHOOL OF BUSINESS IN CHARLOTTESVILLE, VIRGINIA
THE DARDEN MBA
WHY DARDEN?RANKINGS OPPORTUNITY FACTS & FIGURES
“ Darden is constantly pushing me outside of my comfort zone to think more broadly and more critically. It has made me more curious about the world. Forming friendships with people from South Korea to Brazil, Nigeria to Spain, India to Pakistan has fueled a desire to travel and learn about other cultures.”
Agatha Patterson (MBA ’18)
Top Hiring Companies#1Education Experience
(The Economist, 2011–17)
#1Satisfaction with MBA
Education (Forbes, 2017–18)
#1Best Campus Environment
(Princeton Review, 2017)
#1Best Professors
(Princeton Review, 2017)
#1MBA for General Management
(Financial Times, 2013–17)
#3MBA Program forEntrepreneurship
(Financial Times, 2016)
#10MBA Program, Globally
(The Economist, 2017)
MBA Class of 2019 Profile
Students Enrolled 326
Women 39%
Countries Represented 36
Average Age at Entry 27
Average GMAT 713
Office of AdmissionsUniversity of Virginia Darden School of Business
100 Darden Boulevard, Charlottesville, Virginia 22903 USA+1-434-924-7281 or 800-UVA-MBA1 | darden.virginia.edu | [email protected]
@DardenMBA
darden.virginia.edu/mba | blogs.darden.virginia.edu/admissions
2018–19 APPLICATIONDEADLINESEARLY ACTION: 7 September 2018
ROUND 1: 5 October 2018
ROUND 2: 10 January 2019
ROUND 3: 3 April 2019
15,000+Darden alumni live in 90 countries.
Global offerings in
50+ LOCATIONS ACROSS
30+ COUNTRIES.
93%of Class of 2017 students
received a job offer by three months after graduation.
Average base salary after graduation
$124,684*
*Data from the Class of 2017
International Student Profile
Students Enrolled 225
Women 34%
GMAT Distribution 660–770
Classes of 2018 and 2019
Pre-Darden Industry
Financial Services 25%
Consulting 17%
Technology 9%
Manufacturing 5%
Government 5%
Other (Consumer Products, Media, Retail, Tourism, Transportation, Venture Capital)
39%
Classes of 2018 and 2019