Already earned your CFA level 3? No need to write the GMAT!

Niki da Silva, Director, Recruitment and AdmissionsThe Rotman admissions team has always taken pride in our reputation for innovation, and that tradition continues today as we announce a GMAT waiver for all successful CFA Level 3 candidates!

We believe (based on the CFA website) that Rotman is the first top-ranked global business school to update our admission requirements for this select group of MBA applicants, and we are excited to add this to our track record of innovation in business school admissions.

At Rotman, we have seen an increase in the number of candidates who want to combine their CFA designation with an MBA. Earning both credentials makes for a powerful combination that can give you a significant edge. For candidates pursuing a progressive career as a leader / innovator in the Finance space, one of the best ways to stand out is to choose both a CFA and and MBA, rather than opting for just one route.

Since the GMAT can sometimes act as a barrier, preventing candidates with all three levels of the CFA from applying to business school, waiving the GMAT requirement for applicants with CFA level 3 is a logical next step for us. This is especially true for Rotman, one of the top 10 business schools in the world for finance, because the pool of CFA candidates is a strong source of our talent.

Before making this change we thought carefully about ensuring that the holistic admissions process would still allow us to evaluate the critical criteria typically represented by the GMAT score and I wanted to give you some insight into our thinking.

Our application process is tremendously rigorous. Our evaluation criteria include essays, interviews, undergraduate GPA level and a video essay. When combined with the deep content of the CFA exams, this comprehensive package will give the admissions committee information equivalent to the skills and competencies represented by a GMAT score.

There is already a precedent for this type of GMAT exception: the Rotman School currently waives the GMAT requirement for candidates applying to the University of Toronto’s JD/MBA program who have taken the LSAT test with a score over 165.

One of our core principles is to continue to innovate in our admissions process and think critically about what we require, and ultimately how we screen talent for Rotman’s MBA Program. This update is a change applicable to candidates for both the full-time and part-time programs and I look forward to hearing feedback from CFA candidates on this change. As always, feel free to contact us with questions at mba@rotman.utoronto.ca.

 

2013 Intake – Still Open For Business! (2014 Applicants – Stay Tuned)

NikiAs we enter the month of June we are starting to wind down our 2013 admissions cycle. September and the start of MBA classes will be here before we know it!

The final “official” deadline was this past weekend, on June 1st. Those of you still considering a Fall 2013 start date should be aware that we will still review applications submitted throughout the summer. Since we’re expanding our Full-Time MBA program we don’t have a “fixed” class size and we are happy to consider applicants who didn’t make the June 1st deadline. Just one of the many benefits of growing our program!

The most common question about applying late is “what if I don’t have all components of my application package ready to submit?” Well, we want to work with you at this point in the year, and will be flexible in how we review files to support applicants late in the cycle.  What exactly does that mean? It is possible to receive a conditional offer (upon writing the GMAT or the GRE) or have your review expedited and interview conducted before your application is complete.  Bottom line – if you want to be here this fall, I would encourage you to make it happen! There is still time to write the GMAT (or GRE) and submit your application.  Contact our team with questions via mba@rotman.utoronto.ca  – you can set up a one-on-one meeting to review your profile and get some feedback on your admissions strategy from a member of the Committee!

The team will be busy evaluating final round and summer applications, but now is also the time of year when we shift gears and start recruiting candidates who want to start in September 2014. We have been busy planning our recruiting calendar for the Fall and will be updating our website in the next few weeks – so be sure to check back to find out when we will be in your area.

We will be kicking off the 2014 application period on Monday, July 15th. At the same time, we will announce new essay questions and updates to our process! Stay tuned for another blog post from me once we have launched the 2014 cycle. I’ll give you my take on changes to the application process and some insights about what we hope to achieve with these updates. In the short term, the team wishes the best of luck to all of our remaining 2013 applicants and we look forward to getting to know our 2014 candidates on the road soon!