Rotman School of Management, University of Toronto

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Major in Investment Banking

Risk and reward

An investment banking career involves raising equity and debt capital for companies. While competition for these positions can be tough, the profession remains a highly-attractive option for MBA graduates. Located just blocks away from North America's third largest financial centre, Rotman is the ideal place to build your career in this rapidly-growing field.

Topics Covered

The courses in this major develop skillsets in financial analysis and deepen institutional understanding of financial instruments and institutions. With this knowledge, you are positioned to help firm management to create value as they explore investment proposals, financing options, consider alternative ways to manage cash and dividends, and consider acquisitions and divestitures. Specific topics include the process for issuing and underwriting new debt and equity securities to support strategic and financial buyers. You will also learn key legal and regulatory constraints on corporate activity and deepen your understanding of financial statements.


"The best time to invest in U.S. Treasury securities may be spring, thanks to changes in risk tolerance linked to depression."

- Lisa Kramer, a finance professor cross-appointed to the Rotman School, in an online article


Requirements to Complete the Major

You must successfully complete 3 of the following 4 core courses:

  • Corporate Financing
  • Financial Management
  • Mergers and Acquisitions
  • Private Equity and Entrepreneurial Finance

It is also recommended that students in this major complete the fourth core course and choose other courses from the following selection:

  • Corporate Strategy
  • Current Issues in Financial Reporting and Disclosure (not offered in 2019-2020)
  • Taxation and Decision Making
  • Business Analysis and Valuation
  • Financial Institutions and Capital Markets (not offered in 2019-2020)
  • International Financial Management (not offered in 2019-2020)
  • Options and Futures Markets
  • Hedge Funds and Broker Dealers (not offered in 2019-2020)
  • Financial Statement Analysis 

Career Paths for Investment Banking Major

There are at least four career paths. A first career is as an investment banker, advising firms and financial buyers and structuring large and complex financial transactions, such as debt issuances, equity issuances and major acquisitions and divestitures. A second career is as a private equity professional, in venture capital or leveraged buyout firms. A third career is management of non-financial corporations, including C-suite roles, corporate treasurers and controllers, and corporate development and strategy. A fourth career is as a consultant, providing services to firms and financial buyers, as they consider alternative strategies for value creation that involve and large and complex financial transactions.

 

Flexible Internship Program

The Rotman Full-Time MBA Program provides a unique opportunity for students to integrate and apply management knowledge gained within the program through a 4-month internship. Students are required to complete the course “Applied Management: Placement” in conjunction with a work placement which may be done in the Summer, Fall or Winter terms. Depending on their academic area of concentration/major and career objectives, students will be guided on the best work term option to secure a placement with an employer. Throughout their work placement, students will benefit from enhanced communication with their host employers, tracking of project deliverables and feedback from faculty supervisors.

A selection of investment firms where Rotman MBA graduates have worked in recent years:

Finance companies

Thought piece - Investment banking

Investing with a Gender Lens

Sarah Kaplan is an associate professor of strategic management

Career directions
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