Office of Admissions
LUMS DHA, Lahore Cantt. 54792, Lahore, Pakistan
Tel: +92 42 3560 8000 Ext.: 2177
MS Financial Management
MS Financial Management
The Master of Science (MS) degrees are 1.5-year programmes envisioned to provide an intensive, rich, and innovative understanding of the intersection between business fundamentals and a focused specialisation area.
The MS in Financial Management at the Suleman Dawood School of Business (SDSB) is a full-time graduate programme that will allow students to build a sound foundation of the core concepts in finance to ensure up-to-date training for entry or progression in finance careers. The programme aims to equip students with fundamental tools, knowledge, and expertise to effectively deal with contemporary finance issues.
The blended learning methodology at SDSB seeks to ensure:
- Enhanced Learning: To ensure academic credibility
- Linkages: To create connections between theory, practice and innovation
- Engagement: To increase students’ active participation in class and facilitate knowledge exchange
The MS in Financial Management will provide an in-depth grounding in finance, essential for the development of analytical, quantitative, critical thinking, and applied research skills necessary for engagement in the financial sector. It will enable you to comprehend and operate within the increasing complexities and innovations in the field which organisations face. Additionally, students seeking the globally recognised Chartered Financial Analyst (CFA) qualification will also benefit from this programme.
The programme is structured to cover the foundation of modern finance with an Experiential Learning semester that includes an applied thesis and industry internship component to enable the application of theory in real life. Taking account of finance issues that are global and locally situated, this application of finance skills and finance knowledge training within the MS programme will fill a void that is present in many enterprises.
As an MS Financial Management graduate, you will:
- Possess practical business knowledge
- Gain analytical, mathematical, critical thinking, and applied research skills essential for engagement in the financial sector
- Have sound theoretical knowledge and applied enterprises in finance
- Develop the ability to pursue the CFA qualification or similar
- Lead financial practice innovations within the context of the Pakistani finance industry
Graduates of the MS Financial Management programme may avail:
- Opportunities at both local and international enterprises, including investment banks, commercial banks, asset management companies, regulatory bodies, public sector organisations, and accounting bodies
- Roles as private equity consultants, in corporate finance, as research analysts, financial and investment analysts, private equity consultants, portfolio managers, senior officials, and chief executives and treasurers
- Entrepreneurship and fintech innovation roles
- Doctoral studies
The MS Financial Management programme requires 1.5 years to complete 33 credit hours. The requirement and distribution of credit hours for the programme are below.
Graduation Requirement
|
Graduation Requirement |
|
|
Course Type |
Credit Hours |
|
Core Courses |
12 |
|
Specialised Electives |
12 |
|
Summer Semester |
3 |
|
Field Project/Thesis |
6 |
Programme Structure
|
Programme Structure |
|
Course |
Credit Hours |
|
1st Semester - Fall (1st Year) - Core - (Sep - Dec) |
|
|
Financial Statement Analysis and Value Creation |
3 |
|
Business Economics |
3 |
|
Organisations and Leadership |
3 |
|
Marketing Management |
3 |
|
Total |
12 |
|
2nd Semester - Spring (1st Year) - Specialised Electives - (Jan - May) |
|
|
Corporate Finance and Valuation |
3 |
|
Investments and Portfolio Management |
3 |
|
Derivatives and Fixed Income |
3 |
|
Entrepreneurial Finance and Venture Capital |
3 |
|
Total |
12 |
|
3rd Semester - Summer (1st Year) - Core - (June - Aug) |
|
|
Applied Data Analysis |
3 |
| Total |
3 |
|
4th Semester - Fall (2nd Year) - Core - (Sep - Dec) |
|
| Field Project/Thesis |
6 |
|
Total |
6 |
|
Grand Total |
33 |
Admission Criteria
Fall Admission FY 2022-23
Applicants must meet the minimum eligibility criteria in order to be considered for admission to the Graduate Programme.
Admission is purely merit-based and rests solely on the following criteria:
- Academic Record;
- Performance in the Admission Test;
- Statement of Purpose;
- Two Letters of Recommendation;
- Work Experience (if available)
- Completed and submitted application form and supporting documents by the stipulated deadline;
- Application Review; and
- Interview Performance (if called)
Note:
- This is the minimum criteria that applicants need to fulfill in order to be eligible to apply. Fulfillment of this criteria does not guarantee admission to LUMS.
Academic Record
Applicants will be assessed on the following criteria:
- Successful completion of sixteen (16) years of education leading to a Master's or Bachelor's* degree or equivalent in a relevant discipline including Business, Management, and Commerce.
A student with a non-financial background may be required to take pre-requisite courses to be determined by the LUMS Admissions Committee depending on the academic background of the applicant. Options to do this will be given to accepted applicants requiring pre-requisite courses. Prior university studies must be from a university recognized by the Higher Education Commission (HEC), Pakistan.
*Candidates holding only a Bachelor's degree of less than four years’ duration will be required to produce an equivalence certificate issued by the Higher Education Commission (HEC), Pakistan.
NOTE:
Applicants completing their last degree by May 30, 2022, are also eligible to apply.
Test Requirement
Applicants are required to take One (1) of the following tests in order to be considered for Fall 2022 admissions:
- Graduate Management Admission Test (GMAT); OR
- Graduate Record Examination (GRE); OR
- NTS-GAT (General)
The GMAT/GRE (General) is offered as a Computer adaptive test worldwide. The LUMS code for receiving GRE (General)/ GMAT scores from Pearson and ETS is 0679.
The deadline to take the GMAT/GRE (General)/NTS GAT (General) is May 22, 2022.
NOTE:
- GMAT/GRE taken more than five years before the admission deadline will not be considered valid.
- NTS-GAT (General) taken more than two years before the admission deadline will not be considered valid. A cumulative score of 50 is a minimum requirement for applying.
- Apart from official test scores that LUMS will require directly from Pearson and Educational Testing Service (ETS), USA, applicants must submit online a copy of the unofficial GMAT/GRE (General) scores as soon as they take the test.
- If the applicant has taken more than one test, the best score will be considered for the application evaluation.
Submission
The admission application will be considered for evaluation after the successful completion of the following Four (4) STEPS by the applicants on or before the stipulated deadlines:
- LUMS Online Admission Application submission;
- Online submission of scanned copies of required supporting documents;
- Submission of an appropriate Application Processing Fee; and
- Online submission of the Letters of Recommendation by the Referees.
Application Processing Fee
- The application processing fee of Rs. 6,800
- The application processing fee of USD 110 for International applicants.
Note:
- Applicants must complete and submit their Online Admission application on or before May 17, 2022; 5:00 pm (PKT).
- Applicants are required to Online submit the scanned copies of all supporting documents on or before May 20, 2022.
- After the successful submission of the Online application, applicants must make the Processing Fee payment by the deadline.
- Referees must submit completely filled Letters of Recommendation by the given deadline.
Completion of all steps is mandatory. Application, documents, or fee received after the stipulated deadline will not be processed.
Application Review/Interview Performance
Shortlisted applications will be reviewed by the relevant Committee to finalize the admission decision. Applicants are encouraged to provide complete information regarding their academic achievement, research reports, attended workshops, extracurricular activities, and must tell LUMS about their success stories in order to substantiate their applications.
A Merit ranking to shortlist applicants for interviews will be generated based on the Academic Performance, Work experience, and GMAT/GRE (General) scores. Only short-listed candidates will be called for the interviews.
Letters of Recommendation
The Letters of Recommendation should indicate the applicant’s Academic performance, Commitment to excellence, and their strong aptitude for business education. These can be from professional as well as academic referees.
Work Experience
Students registered for the MS Financial Management Programme will particularly benefit from work experience of one year or more in the relevant field because of the nature of the degree contents and this will give them a possible edge in gaining admission. However, the experience is not essential for admission to the Programme.
Statement of Purpose
You will be asked to submit a writing sample in the form of a statement of purpose. It should identify in clear terms why you think you are suited to the MS Financial Management Programme. You should state how registration in the degree will enable you to achieve your career goals. Your personal statement should present clearly and effectively your reasons for wishing to undertake the particular Programme
Fee Structure for FY 2022-23
|
Particulars |
Year 1 |
Total Year 1 Fee |
Year 2 | Total Programme Fee | ||
|
Fall 2022 |
Spring 2023 |
Summer 2023 | Fall 2023 | |||
| Credit Hours | 12 | 12 | 3 | 27 |
Thesis (6) |
- |
|
PKR |
PKR |
PKR |
PKR |
PKR | PKR | |
|
Tuition Fee |
504,204 |
504,204 |
126,052 | 1,134,459 | - | 1,134,460 |
|
Admission Fee |
116,840 |
- |
- |
116,840 |
- | 116,840 |
|
Semester Registration |
25,065 |
25,065 |
25,065 | 75,195 | 25,065 | 100,260 |
|
Reading Material |
23,218 |
23,218 |
5,804 | 52,240 | - | 52,240 |
|
General Security |
41,800 |
- |
- | 41,800 | - | 41,800 |
|
Sub-total - Other Fee |
206,923 | 48,283 | 30,869 | 286,075 | 25,065 | 311,140 |
|
Per Semester Fee |
711,127 |
552,487 |
156,921 | 1,420,535 | 25,065 | 1,445,600 |
Hostel Fee
|
Particulars |
Fall 2022 |
Spring 2023 |
Summer 2023 |
|
|
PKR | PKR | PKR |
|
Hostel Fee (double occupancy) |
61,590 |
61,590 |
TBA |
|
Hostel Fee (triple large occupancy) |
44,840 | 44,840 | TBA |
Important Points
- The above breakdown of fee structure is for the whole 1.5 Year MS Financial Management programme.
- Fees are payable by semester according to the schedule given in the Annual Fee bill.
- As per Income Tax Ordinance 2001, advance tax (under section 236 I) is required to be collected @ 5% on the entire amount of fee paid by a person not appearing on the active taxpayers list if Student Payable exceeds PKR 200,000/- per annum excluding the amount refundable. Tax deduction certificates will be available on student Zambeel account.
- Advance tax paid on fee is adjustable at the time of filing of Income tax return. LUMS will issue Advance Tax Certificate in this regard at year-end.
- University fees are usually announced once each year. However, the University reserves the right to change its policies and fee structure at any time.
Refund Policy
To learn more about the University's Refund Policy, please click here.
|
Activity |
Date |
|
Activation of LUMS Online Admission Application |
05 November 2021 |
|
Deadline to take GMAT/GRE/NTS GAT(General) |
22 May 2022 |
|
Online Application Deadline |
17 May 2022, 5:00 pm (PKT) |
|
Deadline to submit online supporting documents |
20 May 2022 |
|
Completion of Admission Process |
30 July 2022 |
|
Commencement of Classes |
20 August 2022 |
Note:
- The University reserves the right to change dates and deadlines for admissions. Please keep informed of any changes by visiting this site periodically, as well as the LUMS online application site.
What Is The Minimum CGPA Requirement For Applying In MS Financial Management Programme?
There is no CGPA requirement, minimum 16 years of education is compulsory for applying to the MS Financial Management Programme.
I Already Have A Master Of Business. Can I Apply To LUMS?
Yes. We do not exclude candidates who have a Master of Business or any other graduate degree.
Do You Require Any Entrance Test For Admission To The MS Financial Management Programme?
Yes, Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) or NTS GAT (General) score is required for admission to the MS Programme. As the Testing services for the GMAT/GRE & NTS GAT- General are operational during this Admission cycle (for Fall 2022 admissions) so applicants are required to take the test according to the stipulated deadline.
For How Long Are The GMAT/GRE/ NTS GAT (General) Scores Valid?
GMAT/GRE scores are valid for five years. GMAT/GRE taken five years before the admission deadline will not be considered valid. However, the NTS GAT (General) is valid for two years.
Is There Any Preference By LUMS In Attempting GMAT Or GRE Or NTS GAT (General)?
There is no preference in taking GMAT or GRE or NTS GAT (General).
If I Take GMAT/GRE/NTS GAT (General) More Than Once, Do You Consider My Highest Score?
We will consider your best scores of a single attempt.
Do You Have Any Age Limit For Admission To The MS Financial Management Programme?
No, there is no age restriction for admission to the MS Financial Management Programme.
Does The LUMS MS Financial Management Programme Offer Spring Admission?
Given the structure of the curriculum we only offer fall admission.
Can I Transfer Credits From Another Graduate Programme?
Transfer of credits from another programme to the LUMS MS Financial Management programme is not allowed. All admitted students regardless of having an advanced degree will begin the programme as a first-year student.
I Don't Have A Business Background. Will This Impact My Chances For Admission?
A student with non-business background may be required to take pre-requisite courses to be determined by the LUMS Admissions Committee depending on the academic background of the applicant. Options to do this will be given to accepted applicants requiring pre-requisite courses.
What Is The Application Process?
Application for admission to the LUMS Master of Business Programme is an online process (there is no paper based application to fill out or mail). After creating an account and accessing the online admission application you may then begin to complete your application. You can work on your application at any time and submit it when it is ready. Please note that we expect applicants to adhere to the deadlines stated on the LUMS website. After submission you may print a copy for your own use.
May I Appeal My Admission Decision Or Ask To Have The Decision Explained?
The admission process is a well deliberated and thorough process. Each year we receive a large number of outstanding applications. Unfortunately, all of them do not qualify because of the limited number of available seats. The decision regarding admission is final.
If your application is unsuccessful, you will also receive a letter informing you of this. Due to the volume of applications the University receive; it is not possible to provide feedback on unsuccessful applications.
How Do I Get Equivalence From Higher Education Commission (HEC), Pakistan?
International students can get equivalence through the following process: http://hec.gov.pk/english/services/students/Equivalence%20Degree%20Issuance.
Does LUMS Offer Campus Accommodation To International Students?
LUMS provides a well-maintained residential environment for international students.
What’s The Difference Between The Business MS Degree And The MBA At LUMS?
The Master of Science degrees are specialised programmes requiring 33 credits to complete whereas the general management MBA degree is a 66 credit programme. Whilst the MBA takes two years and is built primarily on case method teaching providing a generalist orientation to tackling real-world business challenges, the blended learning-based Master of Science degrees can be completed in one year and you can begin to operate within an organisation whilst working on the field thesis during the third semester of the programme (totalling 1.5 years to complete the degree). The organisation where you do your field project may well be your longer-term employer. The Master of Science degrees each cover core fundamental business courses over the first semester after which you specialise in your chosen area in the second semester. By contrast, the MBA is broader in scope offering many course options. MBA graduates can opt to enter any industry of choice after graduation whereas Master of Science graduates will most likely have decided on the industry sector they want to join before applying to LUMS. So, what really matters to be admitted to any of the three Master of Science programmes are your reasons for wanting to specialise and why you want to work in the industry you have chosen.
How do I inform about a change in the online application?
It is highly recommended to fill out the application form carefully. Changes cannot be made after the submission of online application. In sheer need an applicant can send the updated information to admissions@lums.edu.pk with the specific header "Change in Application Form".
LUMS Financial Aid
Admission to all programmes is purely on merit and independent of students’ ability to pay the related tuition fees. Once a student has been admitted to a programme, there are several mechanisms in place to provide financial support based on need and merit. All awards are reassessed each academic year based on performance, need, available resources and prevailing University policies. LUMS is committed to providing as much financial assistance as possible within the limits of its available resources. Nevertheless, the University may not be able to meet all requests for financial assistance, and it is strongly recommended that applicants secure as much of their own funding as possible.
Several Merit and Need-Based Scholarships are available for students who meet specific criteria.
- LUMS Interest - Free Loan
- Merit Scholarship
- Women Scholarship
LUMS Interest-Free Loan
A degree from a tier-one university is one of the few investments with all-but-guaranteed return. Studying in LUMS not only opens doors in the professional world but also unleashes intellectual and financial potential.
At LUMS, we believe that financial circumstances should never stand in the way. To help, LUMS offers Interest-Free loans to the students from less privileged backgrounds who, without such an assistance, would not be able to attend a university.
At Master of Science (MS) Programmes, LUMS Interest-Free loan covers partial to full tuition fee expense. These awards are reassessed each academic year based upon performance and demonstrated financial need. The repayment of these Interest-Free loans starts six (6) months after graduation with time period of three (3) to five (5) years.
Remember – loan is an obligation and is required to be paid back in installments after graduation. Loan repayment not only contributes towards the recirculation of Financial Aid to deserving students but also inculcates social responsibility and ethical values within the students.
Merit Scholarship
Merit Scholarship is a form of gift and does not need to be repaid. LUMS provides Merit Scholarship Award to students who have proven their ability to succeed academically. There is no separate application for the scholarship. Students are automatically considered for the award when they apply for admission to LUMS.
Merit scholarship is awarded to the top 3 students based on admission evaluation ranking in each of the Master of Science (MS) Programmes at SDSB. The Merit scholarship will be given in the form of 75% Tuition fee waiver.
Note: In case a student qualifies for both financial aid award and any other scholarship, she/he will receive the higher aid benefit. These awards are for one (1) year only and cannot be carried forward to subsequent years.
Women Scholarship
LUMS consistently strives to make all its educational programmes accessible to all across the globe, regardless of students' ability to pay. Ground-breaking research, internationally competitive faculty, relevant curriculum, strong international linkages and a vibrant, extracurricular life have established LUMS as a Centre of Excellence in the region.
The aim of Women Scholarship is to foster, celebrate and advance women’s leadership in business. By tapping highly talented young women, we hope to contribute towards building the future of not only their families but also their communities. This scholarship will support female candidates to pursue higher education on merit and will increase the number of women joining the Master of Science (MS) Program of the SDSB. All female students admitted to the SDSB-MS Programme will be eligible for 50% Tuition fee waiver.
This Scholarship will groom female managers and leaders of business; dramatically changing the managerial landscape of Pakistan. As these women assume leadership roles in organisations across the country, there will be a change in the culture of these organizations.
Note: In case a student qualifies for both women scholarship and any other award, she will receive the higher aid benefit.
Maintaining Eligibility
- Financial Aid Award is valid for One (1) year only. Continuation of aid in the subsequent year is subject to reassessment.
- Students receiving Financial Aid should maintain a Full-time status in a regular semester. Failure to do so will lead to the cancellation of the Financial Aid Award.
-
Financial Aid Award can be increased, reduced or kept the same at any stage of review during your stay at LUMS
-
LUMS reserves the right to physically verify the beneficiary's Home/Business premises.
-
LUMS reserves the right to amend, cancel, or terminate the awarded Financial Aid in case of any misrepresentation or incorrect information provided by the student. Such misrepresentation or concealment of facts may lead to the termination of your admission from the Programme. University also reserves the right to recover the awarded amount during the preceding year(s) from the recipient on an immediate basis.
Mode of Payment
Voucher can be paid through cash, Pay Order and Bank Drafts made in favour of "Lahore University of Management Sciences" at any branch within Pakistan of following banks.