Both tests do not assess the same skills !
The TOEIC test certifies candidates from the beginner to the advanced level, on a continuous scale ranging from 10 to 990 points. The advanced level (905 to 990 points) is equivalent to a high level of command of business English. It is the level reached by people using English at work on a regular basis, and who have taken classes in English or stayed for an extended period of time in an English-speaking country.
The TOEFL iBT test assesses the proficiency in English of students whose level range from intermediate to very advanced on the 4 skills required to study in a European or English-speaking university (USA, Canada, Australia, UK).
TOEFL iBT scores can range from 0 to 120 points.
For people who need or will need English in their professional life, the TOEIC test is appropriate. However, students wishing to apply for an English-speaking university are often required to take the TOEFL iBT and achieve a certain score.