MBA Frequently Asked Questions

Be sure to review the FAQs below for added insight and information about the Toigo MBA Program, eligibility and our selection process. If you have a question not addressed below, email us at Due to the high volume of applicants, our team is most responsive via email.


Are non-US citizens eligible?


What degree programs are eligible? 

You must be applying to / or have been accepted into one of the following degree programs:
An accredited, US-based full-time, two-year MBA program
A joint degree program in conjunction with an accredited, full-time US-based MBA program, such as JD/MBA, MPP/MBA, MEM/MBA. (You must apply for admission to Toigo in the same year you START the MBA curriculum)
Master’s degree in Finance (as part of a two-year joint degree)
Master’s degree in Real Estate (as part of a two-year joint degree)

Does Toigo limit its partnership to specific MBA programs?  

Toigo believes top talent can thrive on every campus. Toigo applications and your MBA applications run in parallel. We’re less concerned about which campus you select—our focus is on helping you make the most of your investment (and choice!).

I was admitted to an accelerated MBA program? Am I eligible? 

The Toigo MBA Program curriculum is designed to align with a two-year MBA experience, commencing in the fall and with a summer internship in between the two years.  Accelerated degrees do not allow the student to take full advantage of the programming and resources.

What if finance is not a career certainty? Should I still apply? 

Reach out to discuss your career interests.

Is there a financial award or scholarship with the program? 

No. The fellowship itself is a leadership program not a scholarship program.

Does the Toigo MBA Program preclude me from applying to fellowships offered by financial services firms or diversity organizations?

No. We encourage you to apply to any or all fellowships that may be of benefit to your academic and/or professional career.

Are January admits or applicants to Executive MBA or on-line MBA programs eligible?

You may participate if you are able to meet the required expectations of our Fellows including participation in two in-person events and three webinars and completion of the mandatory summer internship. On-line MBA programs must be fully accredited and offer a comprehensive business and finance curriculum.

I’m a second-year MBA. Can I apply?

Because our progressive curriculum aligns with the full-time two-year MBA experience, the point of entry to the program is focused on matriculating first-year MBA students. On occasion, we have the capacity to consider second-year applicants. You should reach out to discuss your interest before applying.

I have applied to MBA programs but have not yet received notification of my acceptance. Should I complete an application?

Yes! You don’t need an acceptance in hand to apply for the Toigo MBA Program.  However, we require that Fellows be enrolled in a full-time MBA program at the start of our programming in summer 2024. In short, if you’re applying to programs and plan to enroll in summer/fall 2024, please apply to Toigo now.

I’ve been waitlisted, can I still apply? 

Don’t wait for your acceptance into an MBA program to apply. If you are extended a Toigo MBA Program offer, you will be required to confirm your acceptance into a full-time MBA program.

I’ve launched my own business—or intend to. Is that in the mix?

Entrepreneurship is a growing trend among MBAs today and we know a finance background is an essential component to a successful start-up. We’ll consider candidates with strong entrepreneurial interests on a case-by-case basis. If entrepreneurship is your path, we encourage you to apply and be very candid about your goals during the application process.

I am a first year and missed the opportunity to apply. Any way to get involved? 

We’re committed to driving change and ensuring diverse talent and employers connect. If you want to be notified of Toigo events open to the public, become a friend of Toigo by sending us an email at


When should I apply? 

Our application timeline runs concurrent with the MBA admissions process. Applications are reviewed on a rolling basis. We encourage you to apply well before our early Spring deadline. You do not need to wait until you receive your acceptance to business school to apply.

May I apply before I get accepted into business school?

Yes. If selected as a Toigo MBA Program Finalist, you’ll be required to confirm acceptance and enrollment in an accredited two-year MBA, Masters of Finance / Real Estate or JD/MBA, or other joint degree program.

Do I need to send official college transcripts (i.e., must they be in a signed and sealed envelope from the registrar)? And should my GMAT scores be sent directly from GMAC? 

The answer to both questions is “no”. Photocopies of your transcripts and GMAT scores are acceptable and should be uploaded and included with your application (per the instructions provided) on or before the online application.

Is there a fee to apply? 

Yes. There is a $50 non-refundable application fee which will be waived if you submit your application prior to January 1st, 2024. The fee is used to cover the costs of the application and selection. If you advance as a Finalist to MBA Catapult, there will be a fee to attend the virtual conference, which is disclosed in a memo upon selection.

Through my application to UC MBA Programs, I learned about the UC Investments/Toigo Foundation fellowship. I understand there is a separate application for this program however, I am not sure whether I will attend a UC MBA program. Which application should I use?

If you are applying exclusively to one of the UC two-year, full-time MBA programs, you should select the UC Investment Fellow when registering.

If you plan to apply to both UC and non-UC business schools, select “Toigo Fellow” when registering and select “Yes” to the question “Are you applying to UC MBA Programs?“.

I am currently applying to deferred MBA programs such as the HBS 2+2 Program and the GSB Deferred Enrollment Program.  When should I apply to the Toigo MBA Program? 

We invite you to apply to the Toigo MBA program when your deferment is ending in the admissions cycle before you enroll in your chosen graduate business program.  For instance, if you gain admission in the current cycle to the HBS 2+2 Program and plan on working for two years and matriculating in Fall 2026, you will apply to Toigo in the admissions cycle beginning in December 2025. 

Note: An exception to this applies to the Yale SOM Silver Scholars Program, which admits students directly from their undergraduate program.  If you are applying to Yale SOM’s program for Fall 2024 enrollment, you will apply to Toigo in the current Fellow selection cycle. 

Selection | Standing Out

How competitive is the selection process? 

Toigo typically receives nearly 500 applications. Each year, the Toigo MBA Program class size varies from 65-95 individuals—in part depending on the mix of applicants and their areas of interest within finance. Competitive, yes; but the odds of being selected are 0% if you do not apply.

What is the application process? 

Applicants are required to submit a written application and brief video interviews.

If I apply, am I required to attend MBA Catapult?

Candidates selected to become Finalist are required to attend Catapult. The $135 registration fee for MBA Catapult, is the responsibility of the registrant.