Asked — and Answered

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.


How/when do I become a Toigo Fellow?  The first step to becoming a Toigo Fellow is acceptance into the Toigo MBA Program.  The Foundation will select Fellows upon successfully completing the Foundations Track, or First Year programming, prior to starting the Second Year of their MBA program.

How does Toigo define “minority”?  We use the U.S. Department of Labor’s definition of ethnic minority: African American, Hispanic/Latino, Asian American/Pacific Islander, South Asian American, and/or Native American/Alaskan Native. We know that today many individuals identify as multi-ethnic, so if you have a question about your eligibility, please email us at

What degree programs are eligible? You must be applying to / or have been accepted into one of the following degree programs:

  • An accredited U.S.-based, two-year, full time MBA program
  • JD/MBA (please contact us if you have already completed the JD portion and are interested in applying now that you are beginning the MBA)
  • Masters in Finance / Real Estate

Are non-US citizens eligible? Yes.

What if finance is not a career certainty? Should I still apply?  Reach out to discuss your career interests. Because we broadly define the finance careers we support, it’s possible you may be a strong candidate.

Is there a financial award or scholarship with the program? Toigo MBA Program participants will be eligible to apply for collaborative partner awards, sponsored by corporate partners and provided to the Foundation annually across investment sectors.  Each year, the Foundation will announce these opportunities and timeline for application and selection. Second Years will be eligible to apply for the yearly Vision award competition, which provides awards up to $10,000.

Does the Toigo MBA Program preclude me from applying to other fellowships offered by financial services firms or diversity organizations?  We encourage you to apply to any or all fellowships that may be of benefit to your academic and/or professional career.

I’m a “January admit”. I’m a second year. Am I still eligible?  Our programming is structured to launch in conjunction with the Fall starting dates of MBA program and, as a result, requires two full years of school, plus a mandatory internship between the first and second years.

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 intend to major in marketing with a minor in finance. Am I still eligible for the Toigo MBA Program ? Eligibility is not based on your academic concentration, just on your career choice. As long as the opportunity you seek post-graduation is finance-related, we encourage you to apply.

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 of course need to be accepted in an accredited two-year MBA, Masters of Finance / Real Estate or JD/MBA 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? No. There is no fee to apply. If you advance as a finalist to our Catapult round, there is a $350 fee (non-refundable). This fee includes the full Catapult program, as well as attendance to Quant Camp (optional, but highly recommended.)


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 65-75 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 selection process? Candidates selected to advance to the next round will be invited to attend Catapult, which is mandatory to be considered a finalist for the Toigo MBA Program. Final decisions are made by the President of the Toigo Foundation.

If I apply, am I required to attend Catapult?

Attending Catapult is the final selection round for MBA Class of 2023. If you advance to this round for consideration as a finalist for the Toigo MBA Program, attendance is mandatory. Costs associated with Catapult, including registration, travel and accommodates, are the responsibility of the registrant. Catapult 2021 details will be published in late 2020.