Canadian Business School MFE U of T vs Ivey HBA

Hello everybody,

I got something to ask (even for ppl outside of Canada). According to many discussions within WSO forums, UWO's Ivey is seems to be most recognized undergrad b-school in Canada. I am currently at University of Toronto's Rotman Commerce. What do you guys think about these two options:

  1. Transfer from U of T's Rotman Commerce to UWO's Ivey after second year

  2. Finish U of T's Rotman Commerce in one year earlier and then do Masters in Financial Economics(MFE) which is mix of 12 month of studying + 4 month internship

 

I would recommend Ivey... but I'm biased... I have heard some people doing quite well w/ UofT's MFE (stories here and there), but like with most stories - you only hear of the successes, and not the failures (this goes for Ivey too - not everyone ends up somewhere good even from there). So hopefully, a current or past UT MFE guy/gal can comment here.

Ivey's got a much broader network in recruiters and a stronger alumni base. But you also have to consider what you want to do. Ivey is good for IB and consulting, but has less exposure to say S&T. If S&T is something you're interested in - perhaps MFE is better?

 
Best Response
marcellus_wallace:
Pretty sure MFE needs some high level econ/finance/calc/algebra. So not sure how as a regular commerce grad your going to get into that program?

It most certainly does. Add introductory real analysis to the list prereqs. You basically need to minor in Mathematics at minimum. The placements are mediocre, mostly risk management roles at Canadian Banks/ Pension funds, although few do get IDB/ S&T gigs at Big5 Canadian banks or Toronto Office of BB Banks (ML, GS, CS etc).

Despite being a Math major, I'd go with an Ivey MBA.

I win here, I win there...
 
<span class=keyword_link><a href=/resources/skills/trading-investing/arbitrage target=_blank>arbitRAGE</a></span>.:
marcellus_wallace:
Pretty sure MFE needs some high level econ/finance/calc/algebra. So not sure how as a regular commerce grad your going to get into that program?

It most certainly does. Add introductory real analysis to the list prereqs. You basically need to minor in Mathematics at minimum. The placements are mediocre, mostly risk management roles at Canadian Banks/ Pension funds, although few do get IDB/ S&T gigs at Big5 Canadian banks or Toronto Office of BB Banks (ML, GS, CS etc).

Despite being a Math major, I'd go with an Ivey MBA.

Thanks for the comment I have actually not confirmed if I actually need high level calc/aglbra for MFE. This whole MFE idea came through me today. I am planning to confirm with econ professors who might have some ideas on it.

 

Depends on where you want to work. If you want to work in U.S then Ivey HBA would be a better choice because I heard more U.S banks recruit there. On the other hand Rotman is great for finance and is very respected on Bay Street.

 

the u of t MFE is financial economics not to be confused with financial engineering, seems more similar to a MSF than anything but that's just what I got from the pamphlets

 

Anyone know how MFE has placed recently?

I know their recruitment got obliterated after the world blew up in the Fall of '08. I remember someone mentioning that 1 out of 20-something MFEs being placed in summer 2009 for internships. I'd be interested in hearing how it's been recovering. (Apologies for somewhat thread-jacking)

And to answer the OP's original question: Get out of UofT undergrad business as soon as you can. Go to Ivey HBA and don't look back. Feel free to speak to any of the top finance people in your undergrad class, who know anything about recruitment, and they'll tell you the same thing.

 

To the OP, without a doubt transfer to Ivey HBA. Yes its a different town and tuition is 4x as much, but the recruiting opportunities at Ivey are unparalleled in Canada. I know a few top kids at UofT who knew they wanted to do banking, saw the opportunities weren't there at Rotman, transferred to Ivey and are now working for top Canadian or BB firms.

Albeit, getting an IB job at Ivey is still very competitive, especially since they are adding more sections. The number of kids applying is growing, but the jobs aren't. However, if you're top 20% of the class, you'll likely land a banking job at least for Full-time (Summer is a lot more competitive).

Also, I'd be skeptical of those placement reports. There's no way that 25% (which translates into 100+ kids) get IB or S&T. By the time FT recruitment is done, I'd say roughly ~40 kids will get banking and maybe ~10 will do S&T.

 

Alright... I've seen some pretty big misconceptions of the whole MFE program here.

To address the intial question.

Ivey. You will spend less time and an equal amount of money (i think.) Plus the recruitment is better without question.

The only thing the MFE would have on Ivey is more interesting coursework, but that is just a personal opinion.

However, you do not need advanced math for the MFE. Most get by with beginning calc and linear algebra. The program is kind of odd. From year to year approx. 35-65% make good candidates for front office positions. The remaining are your typical nerdy awkward folk that can really do math and econometrics well, but don't have any soft skills. That would explain the mediocre placement. 2008 was shitty and It has been getting better ever since.

The MFE is great and can get you where you want to go, but the more direct and clearer path would be through London for you.

PM me if you have questions.

-philly g
 

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-philly g

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