Applying

Offers are 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.

Your application will be formally reviewed by the Admissions Committee when it is complete (including GMAT score, references and transcripts). 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.

Below are the deadlines for the August 2012 intake:

Stage	Application complete by	Interview decision by	Admissions decision by
1	11 October 2011	04 November 2011	23 December 2011
2	15 November 2011	09 December 2011	27 January 2012
3	10 January 2012	03 February 2012	23 March 2012
4	13 March 2012	13 April 2012	18 May 2012
5	01 May 2012	01 June 2012	06 July 2012

All deadlines are at 13.00 UK time.

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 let us know 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 official GMAT score database.

We are seeking to give applicants an incentive to apply earlier to the weekend format Masters in Finance (MiF) for the September 2012 intake. In previous years many applicants have left their application until very late in the cycle, and as we expect a record number of applications for the programme again this year, we want to discourage this.

For this intake we have therefore decided to review applications as soon as we have the online application, two references and details of grades for previous university level studies. We will complete our initial review without a GMAT score and if your profile is a good fit for the programme and a good match for the entry criteria, it is very likely that we will call you for interview.

Whichever stage of the application cycle we receive your application, we will aim to complete our initial review within ten working days of completion. 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. We guarantee that we will consider all applications submitted in stages 1 - 5, in stage 6 applications will be considered subject to places remaining available.

If we make you an offer before you sit GMAT, it will be conditional on sitting GMAT and achieving a set target score (likely to be round 680). The latest date to sit GMAT for each stage is indicated below.

If your scores fall short of the target set at your first attempt, the offer may still be confirmed, or you may be offered the opportunity to resit. 

We hope this will encourage the majority of candidates to apply early, as you can proceed to the interview stage earlier, and complete in-depth preparation for GMAT when and if you receive a conditional offer.

These special arrangements only apply to the weekend format MiF. They do not apply to the full-time MiF or other degree programmes offered by London Business School.

Stage	Application complete by	Interview decision by	Admissions decision by	GMAT no later than
1	11 October 2011	04 November 2011	23 December 2011	23 March 2012
2	15 November 2011	02 December 2011	20 January 2012	23 March 2012
3	10 January 2012	27 January 2012	09 March 2012	04 May 2012
4	10 April 2012	27 April 2012	01 June 2012	22 June 2012
5	29 May 2012	15 June 2012	06 July 2012	13 July 2012
6	19 June 2012	06 July 2012	03 August 2012	03 August 2012

All deadlines are at 13.00 UK time.

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 - seven years relevant experience. Candidates with less than three years experience are only accepted if they can make a very good case why it is the right time for them to join the programme.   

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 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.

The Masters in Finance 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 should have at least two years, full time, relevant work experience (typically, students have six - seven years relevant experience). Candidates with less than three years experience are only accepted if they can make a very good case why it is the right time for them to join the programme. 

If you have at least two years of experience in finance, and you would like feedback on whether the Masters in Finance is the right programme for you, please submit your CV for review using one of these forms:

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

As the weekend format is taught on campus, you must be working within commuting distance of London to undertake the programme.  The programme is not offered via distance learning.

When you have submitted your CV, the Masters in Finance Admissions Team will review it and tell you if are eligible to apply for a place. Please allow one week for our reply.

Got less than two years work experience? Consider our Masters in Management
No prior experience in finance?  Consider our MBA, Executive MBA or Sloan programmes

 

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 £95.

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

Please download and complete the MiF personal statement template.


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


Attach the completed template to the online application form.

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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)

As part of the online application process, you must submit transcripts of grades from all colleges, universities and professional schools you have attended. These must include:

• a list of courses completed
• grades
• degree 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.

 

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 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

You do not need to submit a score if:

• 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 £95.

You must pay this online by credit card when you submit your online application. Your application will remain incomplete until we receive the correct fee.
There is an application fee waiver for graduates of our partner institutions:

• University of London
• Columbia University
• University of Hong Kong

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 be 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 Director of the Masters in Finance Programme to review their case.  This decision will be final.