When Viral Shah began evaluating MBA programs, he wasn’t just choosing a school – he was choosing a pathway into a new career.
A former accountant, Shah, an MBA ’26 candidate, came to Ivey hoping to transition into financial services. The four-month internship pilot was a major draw because it let him test that path before graduation.
“It was one of the main reasons I chose Ivey’s 13-month full-time MBA,” he said. “The opportunity to complete a four-month internship in financial services offered a valuable bridge between the classroom and the industry I hoped to enter.”
That bridge is what Ivey’s MBA internship pilot is designed to provide. Now in its second year, the initiative places students in four-month work terms from January through April through capital markets and technology streams.
Shah recently completed an internship at Scotiabank where he worked on a bespoke wealth-lending solution and supported the execution of a live transaction. This work gave him direct exposure to the mechanics of financial structuring.
“Being able to contribute to meaningful, real-time work has made the experience both exciting and highly impactful,” he said.
His experience reflects the purpose of the pilot: helping students apply what they learn in the classroom while building experience in their chosen field.
Addressing a longstanding gap
The idea grew out of repeated student interest and a longstanding challenge within Ivey’s MBA format. In the 13-month program, there had never been a clear place in the calendar for a formal internship.
“It would be the number one question I’d receive from prospective students looking to apply to Ivey: ‘What internship opportunities are there?’ and I didn’t really have a good answer,” said Adam Fremeth, HBA ’00, associate professor of Business, Economics and Public Policy and MBA Faculty Director at the time the initiative was created.
He said the gap was especially pronounced in finance, where Ivey has long been a feeder into investment banking, private equity, and merchant banking, but where hiring dynamics have shifted. It affected international students seeking Canadian work experience.
“International students have faced a more structural obstacle … due to a lack of experience in this market,” he said. “It was very important for those students to be given an opportunity to get that experience.”
Responding to student demand
Conversations with students, faculty, alumni, and recruiters helped shape the pilot. Roughly 80 per cent of the class attended the first information session.
“Part of this narrative is that we don’t provide enough resources or supports for students who want to get into capital markets,” said Kim Miller, Executive Director, Career Management and Corporate Recruiting. “What we felt was missing was some of that practical experience for students looking to pivot from pre-MBA roles into that space.”
The pilot launched modestly in its first year, when five firms posted capital markets roles and two students secured placements. In its second year, it expanded to include a technology stream, bringing total participation to 15 students – eight in capital markets and seven in technology.
Miller said five MBA students have already confirmed full-time roles with the organizations where they completed their internships, and another has received an offer and is currently in negotiations.
“If you get that opportunity, the pressure is off to be out actively job searching,” she said. “And if nothing else, you’ve started to build a network in the space you’re interested in.”
Creating opportunities through employer partnerships
The pilot also addresses a practical challenge facing MBA students in London.
“If a Rotman student wants to have a coffee chat, they can duck out between classes,” Miller said. “Here, I have to get to Toronto … and I’m missing a class. It’s more challenging for our students being based in London.”
That reality has made employer partnerships more important as recruiting patterns shift and some U.S. opportunities become harder to access.
“It’s probably more important than ever to partner with Canadian organizations who are willing to take our students on and give them that training ground,” she said.
The internship opportunity is open to international students who secure co-op work permits, giving them access to both Canadian work experience and professional networks.
Miller said entry is highly competitive. Students go through an application and interview process with employers selecting candidates who can quickly contribute during a short four-month term.
“They don’t take people fresh. You have to be bringing something with you,” she said. “The ramp-up in a four-month period is too steep otherwise.”
That combination of prior professional experience and case-based learning is part of what makes Ivey MBA candidates attractive to employers, Miller added.
“It’s almost like an extended interview period with a candidate from Canada’s number one business school,” she said.
Learning beyond the classroom
For students in both streams, the internships provided a chance to see how concepts discussed in class play out in practice.
Siddhant Sudan, an MBA ’26 candidate, completed a remote internship with Boosted, a technology consulting firm, where he saw how artificial intelligence (AI) is reshaping operations and decision-making across organizations.
“This has opened my eyes to the many ways AI can affect organizations of various sizes,” he said.
MBA ’26 candidate Kelvin Lin, who interned at Avondale Private Capital, said the experience deepened his understanding of institutional finance and capital raising.
“The most significant takeaway for me was gaining a comprehensive understanding of the mechanics behind institutional raises,” he said.
For Shah, the internship was a natural extension of an already immersive MBA experience. By the end of December, he had already taken part in a wide range of experiences – from intramural sports and a stock pitch competition to Leadership Under Fire, the Dubai study trip, and a finance podcast. He saw the internship as another way to build toward his career goals.
As Ivey transitions to a new MBA structure with a January start date, the internship pilot is expected to continue while the School considers what a longer-term model could look like.
“As Canada’s leading business school, we need to give students the best opportunity to succeed in the job market,” Fremeth said. “We’re just one step in their professional journey, but an important step, and positioning them for success is key.”
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