Canadian Business School Transfer Advice?
Hi everyone,
I'm currently a 2nd-year Finance Co-op student at TMU/Ryerson University, considering transferring.
The reason I want to transfer schools is because of the 2+ hours round-trip commute, terrible school reputation, and limited social life due to being a commuter school.
I'm actively involved in extracurriculars, have met with top professionals and several CEOs, maintain good grades, and have attended numerous networking events etc. While I have two previous work experiences from high school and one volunteer experience from university, I am on track to secure my first internship/co-op term during the upcoming summer (2024).
The 3 schools I'm considering transferring to are:
- Western University's, Ivey Program
- University of Toronto, Rotman Commerce
- Queen's University, Queen's Commerce
I believe that transferring to these universities will enhance my reputation, provide more growth opportunities, expand my network, and offer a more vibrant social life, especially at Western and Queen's.
During high school, I applied to Western and U of T, getting accepted into their regular programs but rejected for AEO and Rotman Commerce. My supplementary application is now stronger. However, my concerns lie in the availability of internships and the associated costs.
FYI: My high school average is 90.
I have seen many Rotman Commerce and Western University students on LinkedIn already having 1-2 internships and some crazy experiences so early in their careers. Which makes it more competitive for me. But also it LinkedIn, a platform most people bragged about.
I had dreams about having that "college life" you see in the movies. Such as living in your dorm, American football, college parties, traditional campus, etc. Schools like Western and Queens for sure have it compared to my school.
I will face a huge obstacle if I do go to Western University for the Ivey program. The cost of tuition and residence at Western is $50,000 per year. Queen's is also very high.
Which is a sum my family can't afford without taking out a line of credit. Especially since I am a low/middle-income student.
Currently, at TMU/Ryerson, OSAP solely covers my tuition, and I don't face any financial struggles aside from paying for transportation and food.
Dilemmas:
- Fear of the cost, especially for Western and Queen's
- perceived exclusivity of U of T's Rotman Commerce for transfers.
- potentially losing the Co-op program if I transfer.
- Extensive paperwork and residence challenges are involved in transferring.
- Fear of regrets if I don't transfer
Advice Needed:
My business high school teacher, a U of T alum, advised that it's better to be a
big fish in a small pond than a small fish in a big pond.
I also had a coffee chat with the Vice President of a financial services company who did his MBA at Western, and he told me that
You have all your life to party. It better to stay at TMU/Ryerson since it focused more on technical skills compared to western which empathizes soft skills. He also said to do my MBA at Western etc.
But that's too far ahead of time. Right now, I'm looking for an internship.
Additionally, I live near U of T Scarborough; I may be thinking of transferring there to see if I get accepted. If they don't let me do the co-op program there, then there is no point in transferring to UTSC.
FYI: I Applied to UTSC's “Management & Finance” program in high school, and they gave me an alternate offer to a different program.
Considering all these factors, including my status as a student with a disability, I seek advice on whether to stay at TMU/Ryerson, especially given the co-op advantage and less competition, or pursue a transfer for the potential opportunities, reputation, and social life at other universities.
Also, what are my chances of getting into these programs? My only fear is that if I stay at TMU/Ryerson, I will still have some thoughts about transferring, and I might regret not having that "college life" and keep having "what if" I went to that university, etc.
My end goal is to become a portfolio manager one day and work in asset management.
Your insights would be appreciated, especially from those alumni.
Hey there,
It sounds like you're in a bit of a pickle, but don't worry, we'll figure this out together.
Firstly, it's great that you're considering all these factors. It shows you're serious about your future. Now, let's break it down:
Western University's Ivey Program, University of Toronto's Rotman Commerce, and Queen's University's Queen's Commerce are all excellent choices. They have strong reputations and could potentially offer you the vibrant social life you're looking for. However, as you've noted, they come with a hefty price tag.
The cost is a significant factor, especially if it means taking out a line of credit. It's important to weigh the potential benefits against the financial burden. Remember, a prestigious university can open doors, but it's not the only path to success.
The advice you received from your business teacher and the VP you spoke with both have merit. Being a big fish in a small pond can allow you to stand out and make a name for yourself. On the other hand, focusing on technical skills over soft skills isn't necessarily a bad thing. In fact, many employers value technical skills highly.
As for the co-op program, it's a valuable opportunity to gain practical experience and make industry connections. If you transfer, you might lose this opportunity, which is something to consider.
Lastly, the "college life" you're dreaming of is indeed a unique experience, but it's not without its challenges. It's also not the only way to enjoy your university years. There are many ways to create a fulfilling and enjoyable university experience, even at a commuter school.
In the end, the decision is yours to make. Consider all these factors, do your research, and trust your gut. Remember, no matter where you go, it's what you make of the opportunities that truly counts.
As for your chances of getting into these programs, it's hard for me to say without more information. However, with your high school average and your dedication, I'd say you have a strong shot.
I hope this helps! Remember, there's no one-size-fits-all answer. It's about finding the path that's right for you. Good luck!
Sources: IBD Barriers to Entry For Canadians and How to Overcome Them, Canadian Looking at US MBAs, College Decision (Canadian vs US schools), Canadian vs USA vs International unis
Rotman Commerce for undergrad isn't even in the same league as Queens or Ivey. Rotmans graduate programs (MBA/MFE) do really well but Rotman undergrad doesn't place as well as other schools like Schulich, Laurier, or Waterloo and the UofT brand won't carry you. That's not to say you can't get a good job out of Rotman it's just going to be a lot easier at Queens / Ivey, and it's still a much better school than TMU.
So what is your advice regarding the issue I am facing?
Analyst 1 in PE but works at a search fund lol
What’s the point of this comment? They’re 100% correct.
They are not. Rotman and Schulich are at least on the same level but if you're asking me, Rotman seems to have better placements. From what I see on linkedin, ryerson is sending a couple of kids per term (fall, winter, summer) to big6 IB, a considerable amount to the pensions (CPP, OTPP mainly), various buyside shops (Picton, CBRE IM, Instar, etc), as well as the more interesting side of big4 (which is a decent launching pad for later pivoting to IB).
My advice for the poster would be to look into the various finance clubs unless they end up being able to afford Ivey/Queens/McGill/maybe UBC
Rotman and Schulich are probably somewhat equal in Canada but Schulich places better in the US
Congrats on Schulich
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