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 weekend 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 weekend programme requires 1.5 years to complete 33 credit hours. The requirement and distribution of credit hours 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 2024
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 or attempting final year exams by May 30, 2024, are also eligible to apply for Fall 2024 Admissions.
Test Requirement
Applicants are required to take One (1) of the following tests in order to be considered for Fall 2024 admissions:
Graduate Management Admission Test (GMAT)
GMAT score is valid for Five (5) years. Scores of GMAT taken before 28th April 2019 will not be considered valid for the Fall 2024 admissions. For further details, please visit www.mba.com
Graduate Record Examination (GRE)
GRE (General) score is valid for Five (5) years. Scores of GRE (General) taken before 28th April 2019 will not be considered valid for the Fall 2024 admissions. For further details, please visit www.ets.org
NTS-GAT (General)
NTS GAT (General) is valid for Two (2) years. Scores of NTS (General) taken before 28th April 2022, will not be considered valid for Fall 2024 admissions. Moreover, a cumulative score of 50 in GAT (General) is the minimum requirement for admission. For further information www.nts.org.pk
LGAT (LUMS Graduate Admission Test)
LUMS Graduate Admission Test (LGAT) will be conducted only once for Fall 2024 admissions at the designated cities of Pakistan. LUMS Graduate Admission Test (LGAT) is comprised of Quantitative, Verbal, and Analytical sections. The LGAT Scores will be valid only for Fall 2024 admissions. The LGAT scores will be used for application evaluation and will not be disclosed to the applicants.
Note:
- If the applicant has taken more than one test or attempt, the best score of a single test or attempt will be considered for application evaluation.
- The LUMS code for receiving GRE (General)/ GMAT scores from Pearson and ETS is 0679.
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:
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. 9,150
- LUMS Graduate Admission Test (LGAT) registration fee Rs. 2,200
- The application processing fee of USD 150 for International applicants.
Note:
Applicants must complete and submit their Online Admission application on or before April 16, 2024; 5:00 pm (PKT).
Applicants are required to submit Online the scanned copies of all supporting documents on or before April 17, 2024.
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.
There will be no campus accommodation for SDSB MS Programmes.
Completion of all steps is mandatory. Applications, documents or fee received after the stipulated deadline will not be processed.
Application Review/Interview Performance
Applicants are encouraged to provide complete and correct information regarding their academic achievements, research reports, attended workshops, and extracurricular activities, and must tell LUMS about their success stories to substantiate their applications.
Applications will be reviewed by the relevant Committee. Shortlisting for interviews will be done based on the applicant's academic achievement, quality of work experience, and admission Test scores. Only short-listed candidates will be called for the interviews.
Letters of Recommendation
Recommendation letters should provide a comprehensive assessment of the applicant's qualifications, emphasizing their academic achievements, unwavering commitment to excellence, and their notable aptitude for business education. These letters of recommendation can be sourced from referees within both academic and professional spheres.
Work Experience
While not mandatory for admission to any of our MS Programmes, candidates with a minimum of one year of relevant work experience may find particular advantages in their pursuit of this degree. The Programme's curriculum is designed to accommodate and enhance the knowledge and skills gained through practical experience in the relevant field. This background can provide applicants with a potential competitive edge during the admission process. Nonetheless, it's important to note that work experience is not a compulsory requirement for admission to any of our MS Programmes.
Statement of Purpose
Applicants are required to submit a Statement of Purpose as a writing sample when applying to the MS Programme. Your Statement of Purpose should provide a compelling rationale for your suitability for this Programme and how it aligns with your career aspirations. In your statement, please articulate the following points.
Programme Relevance: Clearly explain why you believe the MS is the right fit for you. Explain how the Programme's curriculum and focus resonate with your academic and professional interests.
Career Goals: Outline how enrolling in this Programme will contribute to your career objectives.
Personal Context: Share your personal background and context that motivates your interest in this Programme. For instance, if you are currently employed in a government department and aspire to deepen your understanding of business and policy, explain how this Programme will enable you to bridge the gap between your current role and your envisioned career path.
Passion and Commitment: Express your enthusiasm and commitment to pursuing the MS. Highlight any unique perspectives, experiences, or qualities that set you apart as a motivated and dedicated candidate.
Your Statement of Purpose should serve as a clear and persuasive document, demonstrating your genuine interest in the Programme and your compelling reasons for pursuing it.
Fee Structure for FY 2023-24
Particulars | Year 1 | Total Year 1 Fee | ||
Fall 2023 | Spring 2024 | Summer 2024 | ||
| Credit Hours | 12 | 12 | 3 | 27 |
PKR | PKR | PKR | PKR | |
| Tuition Fee | 615,130 | 615,130 | 153,780 | 1,384,040 |
| Admission Fee | 142,540 | - | - | 142,540 |
| Semester Registration Fee | 30,580 | 30,580 | 30,580 | 91,740 |
| Reading Material | 28,329 | 28,329 | 7,082 | 63,740 |
| General Security | 51,000 | - | - | 51,000 |
| Sub-total - Other Fee | 252,449 | 58,909 | 37,662 | 349,020 |
| Per Semester Fee | 867,579 | 674,039 | 191,442 | 1,733,060 |
Hostel Fee
Particulars | Fall 2023 | Spring 2024 | Summer 2024 |
| PKR | PKR | PKR | |
| Hostel Fee Double Occupancy | 75,140 | 75,140 | 22,100 |
| Hostel Fee Triple Occupancy (Bigger room) | 54,700 | 54,700 | TBA |
| Hostel Fee Triple Occupancy (Smaller room) | 46,070 | 46,070 | TBA |
Important Points
- The above breakdown of fee structure is for Year 1 of the 1.5-year MS Financial Management programme.
- The per credit hour rate for FY 2023–24 is PKR 51,261/-
- Reading material per credit hour for FY 2023–24 is PKR 2,361/-
- Fees are payable by semester according to the schedule given in the Annual Fee bill.
- 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 |
|---|---|
| Online Application Deadline | May 17, 2023, 5:00 pm (PKT) |
| Deadline to submit online supporting documents and Processing Fee | May 18, 2023 |
| Deadline to take GMAT/GRE (General)/NTS GAT (General) | May 17, 2023 |
| LUMS Graduate Admission Test (LGAT) Administration | May 07, 2023* |
| Admission Decisions | July 31, 2023 |
| Commencement of Classes | August 2023 |
Note:
- *LGAT (LUMS Graduate Admission Test) is not available for applications submitted after April 11, 2023
- 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) or LGAT score is required for admission to the MS Programme.
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.
I have submitted my online application & all required documents on time but I am unable to view my Test Registration Card?
If an applicant is unable to view his/her Test Registration Card despite completing all the requirements then he/she can write to us at admissions@lums.edu.pk.
By which date should applicants expect their Test Registration Cards to be delivered?
Test Registration Cards and instructions will be posted to the applicants' secure online application account and an email message will alert applicants that the Test Registration Card has been posted. It will be posted on applicants' online account one week before the test date.
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.
My final transcript will be complete by the end of June, can i apply?
Applicants completing their last degree by May 30, 2024 are eligible for applying in Fall 24 Admissions.
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: https://www.hec.gov.pk/english/Pages/default.aspx
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 - 50% scholarship for all admitted women
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 Women admitted to any graduate master’s programme at SDSB will be awarded a 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.