Application FAQs
Outlined below are FAQs for applicants interested in being considered for the Toigo Private Equity MBA Graduate Fellowship. If, after reviewing the FAQs you have additional questions, please contact the Toigo Foundation at pefellows@toigofoundation.org.
Who is eligible to apply?
Second-year minority MBA students are invited to apply. Students must graduate in order to receive the Fellowship benefits and stipends. Applicants must be a U.S. citizen or permanent resident and enrolled in good academic standing at a full-time MBA program based in the United States.
What if I graduated with my MBA two years ago - may I still apply?
The Fellowship is for 2nd year minority MBA students immediately following their graduation. This application criteria may change in the future to include MBA-graduates in the workforce.
Is the Fellowship only open to Toigo Fellows?
All second year minority MBA students who are U.S. citizens are eligible to apply.
Are Toigo Fellows given preferential treatment in the application or review process?
The focus of the post-graduate private equity fellowship is to make a career in private equity accessible to minority MBA graduates. We welcome MBA 2nd year minority students who might not have applied to be a Toigo MBA Fellow as they were starting business school, as well as current Toigo MBA Fellows.
Is the application for Toigo Fellows and non-Fellows different?
The application form and questions are identical.
Is there a fee to apply?
Yes. There is a nominal fee of $50; this fee is waved for Toigo Fellows.
May I start my application, then finish it at a later date?
Once you start the application, you will need to finish it in the same sitting. We recommend drafting your responses "offline", saving and printing the document and then cutting and pasting your responses into the online form. This way, you ensure the best answer possible, and eliminate any frustrations that might arise from an online system.
What is the selection criteria?
The Toigo Foundation and participating firms are seeking talented minority candidates with a clear passion for private equity and entrepreneurship. The Toigo Foundation will review all completed applications and narrow the "first round" field to a group of finalists. Those selected in the first round will be invited to New York to participate in a panel series interview. Following the panel interviews, a selection of candidates will be invited to interview at any of the participating firms for added insight.
What is the Fellowship format?
The new Fellowship is a year-long, three-part rotation designed to provide each Fellow with unmatched exposure to the trillion dollar private equity sector. The rotation includes work at the private equity firm, a plan sponsor and a portfolio (or operating) company, as well as a focused private equity training session.
What is the compensation or Fellowship Award?
Selected Fellows will receive an annual stipend paid over the course of the Fellowship. In addition, each Toigo Private Equity MBA Graduate Fellow will also be awarded up to $50,000 in an MBA tuition stipend at the end of academic year to be used to reduce MBA loan exposure. A travel / corporate housing stipend will be provided to cover costs during the rotation (during time spent at the plan sponsor and/or the portfolio company). The Fellow is responsible for personal income tax filings and healthcare coverage.
Will other private equity firms - in addition to The Carlyle Group - participate?
Currently, The Carlyle Group is the launch partner for the program. The vision of the program is to be an industry-wide, and Toigo is in discussions with other private equity firms (of all sizes and focus areas) to participate in the program.
What happens at the end of the year-long rotation?
The Fellowship concludes (as it began) with a dedicated Toigo training session - the focus at the Fellowship end will be on key learnings/take aways, and more. While there is no guarantee of an offer to the Fellow from any of the participating firms, the Toigo Foundation expects that, due to the thorough screening process and competitive application field, prospects for full-time employment within the industry will be strong.
