Chicago’s Booth School of Business has announced a new scholarship program designed to support executives in the non-profit and government sectors — the latest sign that elite MBA schools are embracing careers that pack social impact.The new Civic Scholars Program, funded in part by a $4 million gift from the Neubauer Family Foundation, will provide full tuition scholarships every year to Chicago Booth’s Weekend MBA for eight professionals working in the third sector.
Students in the program will continue working full-time as they pursue their degrees.
“This is an opportunity to strengthen the development of future leaders from the public and non-profit sectors,” said Joseph Neubauer, a Booth MBA alumnus.
“The same leadership skills are required to run all enterprises, regardless of sector.”
Sunil Kumar, Chicago Booth dean, added: “This will help the school broaden its impact into these sectors, by building a community of talented and well-trained alumni.”
Traditionally the public and non-profit sectors are underrepresented in MBA programs.
But, increasingly, MBA students have shown a willingness to work in areas with a positive impact on society, such as non-profits, impact investing, and sustainability consulting.
“Career opportunities for MBAs that want to make a positive impact on society are nearly limitless,” said Erin Worsham, director of social entrepreneurship at the Fuqua School of Business.
Companies are increasingly offering students more opportunities to “do good”. “There is growth in social impact practices at places like McKinsey,” said Ben Mangan, executive director of the Center for Social Sector Leadership at California’s Haas School of Business.
“And you have big firms like Deloitte and others that give full credit to young consultants who work on pro bono projects.”
Wally Hopp, professor and senior associate dean for faculty and research at Michigan’s Ross School of Business, stressed that “you can make profit and do socially good things at the same time”.
Meanwhile, b-schools have strived to provide for applicants and students interested in pursuing social entrepreneurship.
INSEAD in December last year launched the Soraya Salti Social Impact Scholarship Fund, which will develop young female social entrepreneurs from the Middle East, South Asia and African regions. The same month, University of Edinburgh Business School pledged to build a hub for business, policy and society.
“Many of our MBA students believe that entrepreneurship is a way to make a difference in the world,” said Jeff Reid, who set-up the Entrepreneurship Initiative at Georgetown’s McDonough School of Business.
Ignasi Carreras, director of the Institute for Social Innovation at ESADE Business School, agreed, saying: “Students think they can have a big contribution to society by setting up their own social companies.”
Daniela Papi-Thornton, deputy director of the Skoll Centre for Social Entrepreneurship at Oxford Saïd, believes this represents shifting career aspirations.
“The biggest investment banks used to have lines around the block from the most ambitious students. That is no longer the case,” she said.
Student Reviews
Duke University Fuqua School of Business
Supportive atmosphere
The professors at Duke university exhibit exceptional commitment to the success and well-being of their students by ensuring their academic growth and fostering a supportive social atmosphere. Moreover, the entire community is recognized for its amicability and inclusiveness.
Diversity
The people or the students are without a doubt Duke's greatest asset. While all students are driven to succeed, they are also enthusiastic about a variety of hobbies. You run across a huge lot of diversity. It is the ideal example of a school with well-rounded students and the ideal balance of campus life in a metropolis.
Happy to school
All I could ever hope for is Duke University. That really epitomizes the "work hard, play hard" philosophy that elite colleges frequently pursue. Even though you'll have a lot of schooling to complete over the week, it's simple to keep focused because all of your friends are putting in similar amounts of effort. Many events taking place on and around campus on the weekends provide a great way to unwind. The combination of demanding academics and traditional college fun strikes the perfect balance.
Good schooling
Living, eating, learning, and developing who you want to be as an adult are all fantastic at Duke. I participated in student athletics, and I couldn't have asked for a better interaction with the faculty and other students. I appreciate all of the help I get from the Duke community more than anything. Furthermore, the teachers take the time to get to know you, and the lectures are diverse and demanding (if you do the same). I'd give it a 10 out of 10.
Beautiful School, Nice Classes
DU remains one the greatest and best universities that I have ever stepped in. The school is beautiful and neat. The classes are spacious and also very nice. I enjoyed attending my Lectures in those lecture halls. I also loved the Lecturers because of the good work they did. The university also has very good dorms that are given to students on first come first serve basis and they are affordable
Amazing experience
I received my B.S. in Biology and B.A. in Global Health with a minor in Chemistry from Duke University. I was able to grow as a student, scientist, and global health advocate with the help of my friends, professors, and other mentors I met along the way. A lot to learn if you look and ask, a great place to learn for those who want to learn.
whirlwind of growth and change
An amazing 2 years, with covid and everything else happening Duke has been a place of growth for me. The courses , classes were one of a kind, online and on campus. But the valuable lessons learned in the classes are irreplicable. The students are amazing here, so much diversity , I had no problem fitting in. The teachers are down right brilliant and so helpful. Don't be afraid to ask them anything. Graduated with my MBA with Duke and now my future awaits.
One of the best for Business students
Graduated with an MBA. The classes were very insightful and engaging. The staff are very easy to deal with. The teachers and students, are truly amazing people. Grateful to all the people I've met along the way at Duke. I've learnt a great deal that will help me in my future endeavors. The campus itself is a marvel, it is beautiful.
The university campus is awesome
I graduated with a masters degree in Religious Studies from Duke University. One thing I really liked about the university is its huge campus. It is spread in a large area with a lot of greenery and also have the facilities of reading rooms for single person also. My department building was very well taken care of. The library is immensely populated with books for all your needs. The faculty is very nice to students. The classes are equipped with latest technology to cater the needs of students. The University also provides room rentals for international students. They are very well maintained and priority is given to the International students for a comfortable stay there. There are weekly events conducted by the University as well as Student clubs for the entertainment of students. Anybody can take part in them and show their talents. I enjoyed my degree and I graduated in 2021 and was very happy that I had graduated from a reputed University.
Program Flexibility and Vibrant Campus Life
Duke University is renowned for its rigorous academic programs and vibrant campus life. The university offers a diverse range of majors and research opportunities, supported by world-class faculty.
What I particularly liked about Duke was its strong sense of community and the wealth of extracurricular activities available to students. The campus is beautiful, with top-notch facilities and a supportive atmosphere that fosters both personal and academic growth.
Overall, I would highly recommend Duke University for its excellent educational offerings and strong alumni network. If you're looking for a place that challenges you academically while offering numerous opportunities for personal development, Duke is an excellent choice.
