The 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 firstname.lastname@example.org.