Office of Admissions
LUMS DHA, Lahore Cantt. 54792, Lahore, Pakistan
Tel: +92 42 3560 8000 Ext.: 2177
MS Financial Management
MS Financial Management
Overview
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 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
Structure
The MS Financial Management weekend programme requires 1.5 years to complete 33 credit hours.
- To ensure that all students are well-prepared for the MS programme, those with a non-business background will be required to complete foundational courses as per HEC requirements. Depending on their academic backgrounds, students may need to take between 1 to 4 courses, each designed to strengthen their understanding of key business concepts. These courses will be held in August, with each course comprising 10 two-hour sessions spread across weekdays and weekends. Passing these courses with a minimum aggregate score of 50% will be necessary to continue into the Fall semester.
- The MS orientation programme is designed to help students transition smoothly into the academic environment at LUMS. The orientation spans 3 consecutive days in August, just before the Fall semester begins, and includes sessions over both weekdays and weekends. Attendance at all sessions is crucial for student success. Please note that missing these sessions may result in a mandatory year off, so it is encouraged that this important event is prioritised.
- Regular MS classes are primarily held on weekends (Saturday and Sunday), with occasional weekday (Friday) classes due to scheduling considerations. This flexible structure allows students to balance their studies with other commitments while still ensuring a comprehensive learning experience.
The requirement and distribution of credit hours are below.
Programme Structure
Programme Structure | |
1st Semester - Fall (September - December) | |
| Course (s) | Credit Hours |
| Business Economics | 1.5 |
| Organisations and Leadership | 1.5 |
| Applied Data Analysis | 3 |
| Marketing Management | 3 |
| Financial Statement Analysis & Value Creation | 3 |
| Total | 12 |
2nd Semester - Spring (January - May) | |
| Course (s) | Credit Hours |
| Corporate Finance & Valuation | 3 |
| Investments & Portfolio Management | 3 |
| Derivatives & Fixed Income | 3 |
| Entrepreneurial Finance and Venture Capital | 3 |
| Total | 12 |
3rd Semester - Summer (June – August) | |
| Course (s) | Credit Hours |
| Financial Institutions and Markets | 3 |
| Total | 3 |
4th Semester - Fall (September - December) | |
| Course (s) | Credit Hours |
| Field Project/Thesis/Elective Courses | 6 |
| Total | 6 |
| Grand Total | 33 |
Graduation Requirement
| Course Type | Credit Hours |
|---|---|
1st Semester Core Courses | 12 |
2nd Semester Specialised Electives | 12 |
Summer Semester Students take a 3-credit hour course in Specialisation | 3 |
3rd Semester Field Project/Thesis/Elective Courses In the last semester, all students undertake a practical Field Project/Thesis/Elective Courses carrying 6 credit hours. The project/thesis will be structured around major policy challenges with a real client organisation, giving students the opportunity to take the knowledge and theory they have learned and apply it in a real-world setting. A final report and presentation to the client proposing workable solutions will be required to complete the Field Project/Thesis/Elective Courses successfully. Students will benefit from industry exposure, possibly leading to longer-term engagement and networking opportunities with field leaders. | 6 |
Admission Criteria
Fall Admission 2025
Applicants must meet the minimum eligibility criteria to be considered for admission to the MS Financial Management 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)
- Online Application Submission;
- Online Submission of Supporting Documents and Fee Payment;
- Application Review; and
- Interview Performance (if called)
To be considered for admission evaluation, ensure all steps are completed on or before the stipulated deadline.
Note: These are the minimum requirements that applicants need to fulfil in order to be eligible to apply. Fulfillment of these criteria does not guarantee admission to LUMS.
Academic Record
Applicants will be evaluated based on the following criteria:
Successful completion of 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-business background may be required to take prerequisite courses, as 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 prerequisite 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, 2025, are also eligible to apply for Fall 2025 admission.
Test Requirement
Applicants are required to take One (1) of the following tests to be considered for Fall 2025 admissions:
Graduate Management Admission Test (GMAT)
GMAT scores are valid for Five (5) years. Scores of GMAT taken before April 27, 2020, will not be considered valid for the Fall 2025 admission. For further details, visit www.mba.com
Graduate Record Examination (GRE)
GRE (General) scores are valid for Five (5) years. Scores of GRE (General) taken before April 27, 2020, will not be considered valid for the Fall 2025 admission. For further details, visit www.ets.org
NTS GAT (General)
NTS GAT (General) scores are valid for Two (2) years. Scores of NTS (General) taken before April 27, 2023, will not be considered valid for Fall 2025 admission. Moreover, a cumulative score of 50 in GAT (General) is the minimum requirement for admission. For further information, visit www.nts.org.pk
LGAT (LUMS Graduate Admission Test)
LUMS Graduate Admission Test (LGAT) will be conducted only once for Fall 2025 admission at the designated cities of Pakistan. LUMS Graduate Admission Test (LGAT) includes Quantitative, Verbal, and Analytical sections. The LGAT Scores will be valid only for Fall 2025 admission. The LGAT scores will be used for application evaluation and will not be disclosed to 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 GMAT/GRE (General) is offered as a Computer adaptive test worldwide. The LUMS code to receive official 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 Five (5) 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;
Online Submission of Financial Aid Application (if applicable) by the due date; and
Online submission of the Letters of Recommendation by the Referees.
Application Processing Fee
- The application processing fee is PKR 10,330
- LUMS Graduate Admission Test (LGAT) registration fee is PKR 2,480.
- The application processing fee is USD 170 for International applicants.
Note:
Applicants must complete and submit their Online Admission application on or before April 15, 2025, 5:00 pm (PKT).
Applicants are required to submit scanned copies of all supporting documents online on or before April 16, 2025.
After the successful submission of the Online application, applicants must make the Processing Fee payment by the deadline.
Only applicants who have indicated their intention to apply for LUMS Financial Aid (through the Online Admission Application Form), submitted their admission application, and paid the required application processing fee by the deadline will be granted access to the Financial Aid application. The Financial Aid application tab will be visible on the online admission portal starting February 10, 2025, once these requirements are met. Applicants must submit their complete Financial Aid application, along with all necessary supporting documents, by May 16, 2025.
Referees must submit completely filled Letters of Recommendation by the given deadline.
Completion of all steps is mandatory. Applications, documents, or fees 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 2025-26
| Particulars | Year 1 (Fall 2025) | Year 1 (Spring 2026) | Year 1 (Summer 2026) | Total Year 1 Fee |
|---|---|---|---|---|
| Credit Hours | 12 | 12 | 3 | 27 |
| PKR | PKR | PKR | PKR | |
| Tuition Fee | 639,250 | 639,250 | 159,810 | 1,438,310 |
| Admission Fee | 174,130 | - | - | 174,130 |
| Semester Registration Fee | 37,350 | 37,350 | 37,350 | 112,050 |
| Reading Material | 28,360 | 28,360 | 7,090 | 63,810 |
| General Security | 62,300 | - | - | 62,300 |
| Sub-total - Other Fee | 302,140 | 65,710 | 44,440 | 412,290 |
| Per Semester Fee | 941,390 | 704,960 | 204,250 | 1,850,600 |
Hostel Fee
| Particulars | Fall 2025 | Spring 2026 | Summer 2026 |
|---|---|---|---|
| PKR | PKR | PKR | |
| Hostel Fee Double Occupancy | 91,790 | 91,790 | 37,790 |
| Hostel Fee Triple Occupancy (Bigger room) | 66,820 | 66,820 | 27,520 |
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 2025–26 is PKR 53,271/-
- Reading material per credit hour for FY 2025–26 is PKR 2,363/-
- 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.
Important Dates
| Activity | Date |
|---|---|
| Online Application Deadline | April 15, 2025, 5:00 pm (PKT) |
| Deadline to upload supporting documents (Online) and pay the application fee | April 16, 2025 |
| Deadline to submit Financial Aid Application and documents (if applicable) | May 16, 2025 |
| Deadline to take GMAT/GRE (General)/NTS GAT (General) | April 27, 2025 |
| LUMS Graduate Admission Test (LGAT) | April 27, 2025 (Tentative) |
| Admission Decisions | July 31, 2025 |
| Foundation Classes | August 1-17, 2025 |
| Orientation Week | August 19-22, 2025 |
| Commencement of Classes | August 23, 2025 |
Note:
- The University reserves the right to change dates and deadlines for admissions. Please stay connected to this webpage and the Online Admissions Portal to remain informed of any updates or changes.
Frequently Asked Questions
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.
Whom should I ask to write a letter of recommendation for me and when will my referees receive the email?
We recommend that at least one should be from a supervisor in your professional career. The other letter can be from a faculty member who can evaluate you academically. Referees must not be friends, relatives, or acquaintances; letters from these sources won't be accepted and may result in losing points. Your referees will receive an email within 24 hours once you submit your application. Please inform your referees to check your spam/junk folder if they have not received the email.
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 of LGAT?
Test Registration Cards and instructions will be visible to the applicant's online application account with an email that the Test Registration Card has been posted. It will be visible to the applicant's 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, 2025 are eligible for applying in Fall 2025 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 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".
Financial Support at LUMS
LUMS is committed to making high-quality education accessible to talented students from all backgrounds. Our financial aid programme offers a wide range of support options, designed to facilitate students who demonstrate both high academic achievement and financial need.
Financial aid awards are assessed each year, considering academic performance, demonstrated financial need, available resources, and university policies. While LUMS endeavours to provide substantial financial assistance within its available resources, students are encouraged to explore external funding sources to complement the aid provided by the university.
LUMS strives to enable students to pursue their educational and professional goals without financial barriers, reinforcing our commitment to an inclusive and academically vibrant community.
The following financial support options are available for SDSB Graduate Programme students:
- LUMS Financial Aid
- Women's Scholarship
Women's Scholarship
LUMS is committed to making education accessible to talented students from diverse backgrounds. The Women’s Scholarship supports this mission by offering a pathway for high-achieving women to pursue advanced degree programmes, helping to bridge gender gaps in business education and leadership. Beyond financial assistance, recipients join a network of mentors and peers, fostering collaboration, professional growth, and a shared vision for future leaders.
The aim of Women's 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 Graduate Programmes of the Business School. 50% tuition fee waiver will be awarded to women admitted on high merit under the SDSB Women's Scholarship initiative.
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 organisations.
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.
LUMS Financial Aid
LUMS Financial Aid Programme not only supports students with financial challenges but also attracts top-ranked students, ensuring that the university upholds its commitment to academic excellence by providing opportunities for the brightest minds.
LUMS aims to reduce financial barriers to higher education, nurturing an inclusive and academically vibrant community where academically distinguished students can realize their full potential and achieve their professional aspirations. At the Graduate level, Financial Aid is provided in the form of an Interest-Free Loan.
To be considered for LUMS Financial Aid, applicants must submit their financial aid application along with all required supporting documents by the application submission deadlines. Applications that do not meet these requirements will not be eligible for financial aid assessment for the 2025-26 academic year.
This support can cover part or all of a student’s Tuition and Semester Registration fees and is assessed annually, considering academic performance, financial need, available resources, and prevailing university policies to ensure ongoing assistance that aligns with each student’s circumstances.
Repayment begins six months after graduation, with a flexible repayment period of 3 to 5 years, allowing students to transition smoothly into their careers. While LUMS is committed to offering substantial financial assistance, students are encouraged to explore additional external funding sources to supplement the aid provided by the University.
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.