London Business School

Offers will be made throughout the year and the dates below are a guide to the maximum time you are likely to wait for a decision in each admissions stage. Early application is strongly advised, especially if you plan to apply for a scholarship or require a visa to study in the UK.

The application stage in which your application will be considered is determined by when your application is complete (including GMAT score, references and transcripts), not by when the application form is initially submitted.  However, we encourage you to submit the online application form in advance of the supporting documentation and GMAT, to enable us to start processing your application.

Full time format: for the class beginning in late August 2010

All deadlines are 18.00 (UK time). You should sit GMAT no later than 05 May 2010.

Weekend format: for the class beginning in mid September 2010

All deadlines are 18.00 (UK time). You should sit GMAT no later than 14 July 2010.

The programme is for individuals wishing to advance their career in finance, or change their area within finance, as well as those who have exposure to finance in a current or previous role who now wish to deepen their financial knowledge.

Applicants must have at least two years, full time, relevant work experience (typically, participants have six years relevant experience although each applicant will be considered on his/her own merit).

Relevant experience
Relevant experience will have been gained in finance or a closely related field (for example corporate law, finance journalism or IT in a financial institution); candidates will need to have experienced enough financial transactions in order to be able to contribute to cases discussed in class.  Applicants working in IT will need to show significant exposure to finance related products.

The teaching is practical and applied, so the more experience you have, the more you will benefit from - and contribute to - the programme.

Practical and applied
The programme is practical and applied, and the experience of your classmates is a major part of the overall learning experience.  The programme is not designed for people without prior finance experience who are planning to effect a career change into finance (for this, a general management programme like our MBA is a more appropriate course of study) but it is an excellent choice for people who want to switch areas within finance or generally expand and deepen their finance knowledge.

We are looking for individuals for whom the programme is a good "career-fit", and who are likely to have successful future careers.  Above all, candidates will need to demonstrate that they have the commitment, experience, motivation and potential to benefit from, and contribute to, the programme.

Educational Background
You should have a good undergraduate degree or equivalent qualification, preferably an upper class honours or GPA of 3.5.

To find out if you should apply for the MiF, send us your CV using one of these forms:

Full-time format - send a CV
Weekend format - send a CV

We'll review your CV and tell you if are eligible to apply for a place. Please allow one week for our reply. If you have less than two years work experience you are not eligible for the MiF, so please do not submit your CV until you have more experience.

When you complete your online application form, you will be asked to attach:

• personal statement
• a one-page CV/resume
• names and details of two referees.

You also need to arrange for us to receive:

• a transcript of grades from each university you have attended
• your GMAT score
• confirmation of your English language score (if applicable). See English Language Ability for further information
• your application fee of £80.

The details in the sections below explain how you should send us this information.

Your personal statement should be no more than two pages long. It forms a vital part of your application so we recommend that you spend a significant amount of time preparing it

Your CV must be no more than two pages in length. If you have any significant gaps in your employment history, give your reasons on a separate sheet.

You need to ask two people to be your referees. They should be:

• your current employer (if you don't want to ask your employer to be a referee, a colleague or client is acceptable)
  
• someone else who knows you well -  either someone who taught you at university or college or alternatively, a second work reference eg a former employer or long-standing client.
  

After you input your referees' details into the online application form we will send them an email with log-in details for our online reference system.

London Business School reserves the right to contact your referees for further information in connection with your application.

Further information on references for applicants and referees (download PDF document, 29.90kb)

You must send us transcripts of grades from all colleges, universities and professional schools you have attended. These must include:

• a list of courses completed
• grades
• degree class
• class ranking (if available).

We accept transcripts in the following languages:

• English
• French
• German
• Spanish
• Italian.

If your transcript is in a different language you must supply an English translation. Your own translation is acceptable at this stage.
You can fax us your transcript or email it to us in PDF format.

Fax: +44 (0)20 7000 7551
Email: mifadmissions@london.edu

All candidates must take the Graduate Management Admissions Test (GMAT) - regardless of experience or educational background. We do not accept other admissions tests eg GRE. GMAT scores are valid for five years at the time of application.

Why do I need to sit GMAT?
The GMAT measures general verbal and mathematical skills, and the score report gives separate scores for the quantitative and verbal sections of the test, as well as a combined total score. There is also a short analytical writing section. GMAT is used to promote fairness, objectivity and validity in selection and provides supplementary information to that contained in the application form. It does not test knowledge in specialised academic subjects, but provides an indication of the ability for clear and systematic thought.  For details of how to prepare for GMAT, book a test appointment etc, please see the GMAT web site.

What GMAT score do I need?
As a general guide, a GMAT score of 650 or above adds weight to an application and a GMAT above 700 will add significant weight.
We do not use a pre-determined cut-off score for GMAT, however it is unusual for us to accept a candidate with a total score below 600 and it is rare for us to admit a candidate with a score between 600-640. We would not be comfortable if candidates scored less than 30 in the verbal section or less than 40 in the quantitative section of the test, unless there were genuine extenuating circumstances and strong compensating evidence elsewhere (eg an outstanding academic record). 

GMAT is just one of several admission criteria; just as a high score does not guarantee admission, a below average score does not eliminate a candidate, but in a pool of equally strong candidates with a similar background, GMAT can sometimes be the differentiating factor which determines who is short listed and who is not.

Can I retake GMAT?
You can retake GMAT after 31 days, but re-sitting the test is only recommended if you believe that you significantly under-performed at the first attempt.  If you have taken GMAT more than once, we use your highest score when reviewing your application.

Can I apply to the MiF before I have taken GMAT?
If the rest of your application is complete you should submit it, even if you have not yet taken GMAT, however you must tell us the date you plan to take the test. Although our Admissions Committee will not make a shortlisting decision on your application without your GMAT score, it is possible for us to start processing your application and, for example, ask you for clarification on any part of your application that is unclear or if we need any additional documents. If you apply in advance of sitting GMAT you should fax or email us the unofficial scores you will receive on completion of the test and arrange for the official scores to be reported to us.  We use these unofficial scores you advise when reviewing your application - we do not wait to receive the official scores as this can cause an unnecessary delay.  If we make you an offer, at that stage we verify your scores in the GMAT score database.

Can I be made exempt from taking GMAT?
No, every applicant is required to take GMAT, regardless of their academic background or prior qualifications. This is for a number of reasons:

• it is important to recruiters, alumni etc that we apply the same consistently high entry standards to the Masters in Finance as we do to our MBA programme
• GMAT provides a useful additional piece of information about you, personally
• we receive applications from virtually every country (and educational system) in the world, so it is very helpful to have one measure for comparison of all candidates in the applicant pool
• all business schools have to provide summary data on applicants and students to various external bodies, and this invariably includes the average GMAT score
• it would lead to inconsistencies and unfairness in our admissions processes if we were to require most applicants to take GMAT, but then exempt a few.

How do I report my GMAT scores to London Business School?
When you sit GMAT you are given the option for a report to be sent to five Schools free of charge - just select London Business School: Masters in Finance from the pull-down list.  You do not need a School code to make a selection in the GMAT system.   You can also make this request after you have sat the test for a small charge (again, no School code is required). The GMAT web site gives further information on score reporting.

Register to take the GMAT

How we assess your fluency in English

We use several different measures to assess English language capability, such as:

• Your experience of working and/or studying in an English speaking environment - there is a relevant section in the application form where you can record this
• Your GMAT verbal and analytical writing score
• Your personal statement (essay question)
• If you are short-listed for interview, your interviewer will assess your English language skills
• Where required a result from an approved English Language Test *
   

*Whilst we do not have pre-determined minimum English test scores, in order to present a competitive application, you should aim for the following minimum scores: 

• TOEFL Internet-based Test (Internet Based Test only) 105-110 minimum (25 - 27 minimum in each section). Our institution code is 0898.
• IELTS 7 - 7.5 (7 minimum for each section)
• CPE minimum B (B for all sections)
• PTE (Pearson Test of English) Minimum 76

• your undergraduate or postgraduate degree was conducted entirely in English or in an English-speaking country (degrees must be two years or longer)
• you have lived or worked in an English-speaking country for at least two years since graduating from university

The application fee for the MiF is £80.

You must pay online by credit card after you submit your online application. Your application will remain incomplete until we receive the correct fee.
There is no fee for :

• graduates of our partner institutions - University of London; Columbia University; University of Hong Kong
• candidates who submit a reference from a London Business School faculty member, alumnus/alumna or current student.

We will acknowledge receipt of your application within 72 hours by e-mail.  If you do not receive an email receipt from us this means that we have not received your application.  If any items are missing or if we have any questions or need further information, we will let you know at this stage.

Interview
The quality of the applicant pool is extremely high so please do not disappointed if you are unsuccessful.

We aim to treat all applications to our programmes fairly and equally, in accordance with our published application policies and procedures.  Competition for places on our programmes is very severe and the quality of the applicant pool is extremely high.  Consequently, we are not able to offer places to a large number of entirely suitable candidates.

Feedback
In a small number of cases we actively encourage applicants to improve their application and reapply (for example, with a higher GMAT score or greater work experience).  In the great majority of cases we do not give individual detailed feedback however, as the decision is the result of the high degree of competition, not because of any specific weakness in the application.

Our initial review of each application checks that candidate has met our basic admissions criteria.  We are also looking for appropriate experience, well written essays, evidence of a lively, enquiring, reflective mind, leadership potential, team working skills and supportive references.  An international outlook is another very important factor.   GMAT scores below the average score of the previous intake can make an application less competitive, as can poor grades in previous university studies. 

I have previously applied to the MiF unsuccessfully.  Can I reapply?
The Admissions Committee will only reconsider an earlier decision if there is some new information which adds significant weight to your reapplication (such as extra work responsibilities, a new post, a new qualification or a substantially improved GMAT score).  If there is no new information, no purpose can be served by reapplying.
If you decide to reapply for the intake for the year after your original application, it is not necessary to resubmit the application form, references and transcripts.  We will only need from you a formal request (by letter or e-mail) for us to reconsider your application. This should also detail the new information that you wish the Admissions Committee to consider.

If you apply for entry more than one year after your original application, then a new application will be required.

Appeal against an admissions decision
Appeals will only be considered against an admissions decision on the following grounds:

• There is substantive evidence of bias or prejudice against the applicant
• There is substantive evidence that the admissions committee have departed from published policies and procedures

In the first instance appeals should be made in writing to the relevant programme office, who will acknowledge the appeal within 5 working days and respond fully within 15 working days.

If, following this step, the applicant is dissatisfied with the outcome they may petition the Associate Dean of the Programme to review their case.  This decision will be final.