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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.

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Key 2022 – 2023 Dates and Deadlines

  • December 15, 2022   — Application Opens
  • January 5, 2023  —  First Application Deadline
  • February 15, 2023  —  Second Application Deadline
  • March 18, 2023  —  Application Closes
  • March 27, 2023 —  All Candidates Informed of Application Status
  • April 18 – 20, 2023 —  MBA Catapult (Required attendance for all Finalists)
  • April 21, 2023 —  Quant Camp (Optional but highly recommended for Finalists)
  • May 1, 2023 — Finalist Video Interviews Due
  • Early June 2023 — Class of 2025 Toigo Fellows Announced

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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 also realize that many individuals identify as multi-ethnic.

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. 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 Fellows 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.

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”. Am I still eligible?

No. Our programming is structured to launch in conjunction with the Fall starting dates of your MBA program and, as a result, requires two full years of school, plus a mandatory internship between the first and second years.

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.

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 2022. In short, if you’re applying to programs and plan to enroll in summer/fall 2022, 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 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 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 15, 2023. If you advance as a Finalist to our MBA Catapult round, there is a $400 non-refundable fee. This fee includes the full MBA Catapult program, as well as attendance at 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 65-95 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 selection process? 

Candidates selected to advance to the next round will be invited to attend MBA Catapult, which is mandatory to be considered a finalist for the Toigo MBA Program. After attending MBA Catapult, finalists will be asked to submit brief video interviews.

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

Attending MBA Catapult is the final selection round for MBA Class of 2024. If you advance to this round for consideration as a finalist for the Toigo MBA Program, attendance is mandatory.

Costs associated with MBA Catapult, including registration, are the responsibility of the registrant. The non-refundable registration fee inclusive of both MBA Catapult and Quant Camp is $400. Further details will be provided to finalists when they receive notification of their status.