Overview
Introduction
This unique programme offers unparalleled access to leading private equity researchers and practitioners who actively participate in the development of the field.
The programme is built upon the highly successful MSc Finance (full-time) programme, with the addition of a mandatory course in private equity. You'll focus on topics including the structure of private equity (PE) funds and how PE can be used in start-ups, in scaling-up cash flow businesses, and in restructuring firms facing financial distress.
As well as lectures, discussion and case studies, you'll benefit from regular practitioner-led teaching. You'll have the opportunity to gain deeper practical insight and links to the City, and to meet and network with the MSc Finance (part-time) students throughout the year.
Graduates of this highly-respected programme benefit from excellent career prospects in investment banks, consultancies, and a variety of financial institutions. Read our latest employment report.
Entry requirements
- Undergraduate degree
Upper second class honours (2:1) degree or equivalent in any discipline and good quantitative skills. Admission to this programme is very competitive. In previous years the majority of students accepted into the programme had obtained 1st class honours degrees or the equivalent.
- Quantitative skills
The mathematics used in the programme includes basic calculus and statistics, so applicants are also required to have studied a minimum of A level Mathematics (or its equivalent).
- GRE/GMAT
GMAT or GRE is required for all applicants without a UK undergraduate degree (GMAT strongly preferred). See more information below under "Additional tests".
- Professional experience
Work experience (either through internships or full employment) is not a pre-requisite; however, applicants who have some professional experience should include this in their application, as it may strengthen their application.
- English language
You may also have to provide evidence of your English proficiency, although you do not need to provide this at the time of your application to LSE.
See our English language requirements.
Please select your country from the dropdown list below to find out the entry requirements that apply to you.
Overseas
Additional tests
GMAT or GRE is required for all applicants without a UK undergraduate degree (GMAT strongly preferred). GMAT is recommended for applicants with UK undergraduate degrees, especially those whose quantitative skills are not demonstrated by their undergraduate studies, or those who did not achieve or are not expected to achieve a first class degree.
English language requirements
The English language requirement for this programme is Standard. Read more about our English language requirements.
Competition for places at LSE is strong. So, even if you meet the minimum entry requirements, this doesn't guarantee you an offer of a place.
However, please don’t feel deterred from applying – we want to hear from all suitably qualified students. Think carefully about how you can put together the strongest possible application to help you stand out.
Programme content
The Department of Finance enjoys a pre-eminent reputation for the excellence of its teaching and research. Our diverse faculty and student body come from across the globe, providing a rich environment in which to research and study finance, ensuring that we continue to rank alongside the most highly-rated departments in the world.
We believe that a sound basis in academic theory is crucial for long-term success. However, theory is symbiotic with application. The programme begins with core courses that give a thorough grounding in the principles of finance seen both in general and in real world applications. In the second term, you deepen your specific knowledge of private equity by taking a dedicated course taught by a leading academic in Private Equity. Our optional courses then provide deeper practical insight into finance as practice by leading financial institutions.
Pre-sessional programme
All registered students will attend a full-time four-week pre-sessional programme starting in early September. The essential pre-sessional course consists of preparatory academic classes, the Finance Accelerator, and social events.
Pre-sessional academic classes cover revision and introduction to core quantitative mathematics, statistics and interpreting financial statements, ensuring all students are able to tackle the material in the first term’s core courses.
The pre-sessional also involves a number of career skills sessions to best prepare students for the competitive financial services sector job market – read more about these under the “Graduate Destinations” section.
Year 1
Autumn Term
The foundation of the programme is built in the first term with study of two core courses: Corporate Finance and Asset Markets. Corporate Finance begins with the firm's investment decision and the cost of capital. This in turn is linked to the firm’s financial structure and market environment where the firm operates. It studies in detail major financial decisions including dividend choice, going public, mergers and acquisitions, and restructuring in financial distress. Asset Markets takes you from fundamental concepts to up-to-date applications in fixed-income, equity and derivatives markets.
Winter term
In the second term, you'll deepen your understanding of private equity by taking a mandatory course in private equity.
Additionally, you’ll broaden your knowledge by taking five optional half-unit courses on topics such as financial systems, risk management, portfolio management methods, advanced derivatives and structured financial products, fixed income, advanced corporate finance and applied financial valuation. You’ll be required to take three of these optional half-unit courses in the second term and two in the third term.
MSc comparison: an overview of all the master’s programmes
For the latest list of courses, please go to the relevant School Calendar page.
A few important points you’ll need to know:
Please note that the nine-month and ten-month full time master's programmes are not compliant with the Bologna process, which may affect the extent to which they're recognised. For more information, see Bologna process.
We may need to change, suspend or withdraw a course or programme of study, or change the fees due to unforeseen circumstances. We’ll always notify you as early as possible and recommend alternatives where we can.
The School is not liable for changes to published information or for changing, suspending or withdrawing a course or programme of study, due to developments in teaching practice, regulatory requirements that require us to comply, lack of demand, financial unviability of a course, or due to circumstances beyond our control, such as the loss of a key member of staff or where a location or building becomes unavailable for use.
Places are limited on some courses and/or subject to specific entry requirements so we cannot therefore guarantee you a place.
Changes to programmes and courses may be made after you’ve accepted your offer of a place – normally due to developments in the discipline or as a consequence of student feedback. We may also make changes to course content, teaching formats or assessment methods but these are made to improve the learning experience.
For full details about the availability or content of courses and programmes, please take a look at the School’s Calendar, or contact the relevant academic department.
Some major changes to programmes/courses are posted on our updated graduate course and programme information page.
Why study with us
Discover more about our department below and read our student stories and our alumni stories.
Meet the department
The Department of Finance is one of the largest and most highly respected finance groups in the UK and Europe.
With a longstanding reputation for excellence in both teaching and research, we offer various undergraduate, postgraduate and executive programmes.
Our research and teaching span the full range of financial sub-fields, including:
- corporate finance
- asset pricing theory
- risk management
- empirical analysis of capital markets
- behavioural finance
- portfolio analysis
- derivatives pricing
- microstructure
- financial econometrics.
We're also closely associated with two leading research groups at LSE – the Financial Markets Group and Systemic Risk Centre, which host seminars, conferences and public lectures by renowned academics and practitioners.
Our research is regularly published in leading academic journals globally. Faculty members work closely with national and international institutions, such as the Bank of England and the World Bank, informing policy at the highest levels.
The department was ranked the top place to study finance in the Good University Guide 2026.
Learn more about our programmes and research.
Why LSE
University of the Year 2025 and 1st in the UK in 2025 and 2026
Times and The Sunday Times - Good University Guide 2025 and 20261st in London for the 14th year running
The Complete University Guide - University League Tables 20265th in the world for the study of social sciences and management
QS World University Rankings by Subject 20266th in the world for leading the way in social and environmental sustainability
QS World University Rankings: Sustainability 2026Your application
Overview
We welcome applications from all suitably qualified prospective students. At LSE, we want to recruit students with the best academic merit, potential and motivation, irrespective of background.
We carefully consider each application and take into account all the information included on your application form, including your:
- academic achievement
- additional test scores
- two academic references
- CV
- academic statement of purpose
- GRE/GMAT.
See further information on supporting documents
Important information
The MSc Finance (full-time) and the MSc Finance and Private Equity are identical programmes with the exception that the course FM410 Private Equity is mandatory for MSc Finance and Private Equity students, whereas it is optional for MSc Finance students.
Therefore, you should not select one of these programmes as your first-choice and the other as your second-choice programme. Instead, you should select your preferred programme only. If the MSc Finance and Private Equity is the preferred option, you should demonstrate why you are particularly suitable for, and want to study, private equity.
Contact us
If you have any questions about the academic programme or admissions process please contact the Department of Finance Admissions team at finance.admissionsenquiries@lse.ac.uk.
When to apply
Applications for this programme are considered on a rolling basis. This means that applications will close once the programme is full.
There is no fixed deadline. However, if you’d like to be considered for any funding opportunities, you must submit your application (and all supporting documents) by the funding deadline. See the fees and funding section below for more details.
Fees and funding
The table of fees shows the latest tuition fees for all programmes.
You're charged a fee for your programme. At LSE, your tuition fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It doesn't cover living costs or travel or fieldwork.
Home
Home student fee (2026/27)
For this programme, all students pay the same tuition fees, regardless of their fee status.
Deposit
To secure a place on the programme, offer holders will be required to pay a non-refundable deposit equal to 15% of the tuition fee, split into two instalments.
For offers received by 30 April, the first deposit instalment (10%) will be due within 28 days of receiving the offer and the second deposit instalment (5%) will be due by 1 June.
For offers received from 1 May onwards, both instalments (total 15%) are due by the same date. The deadlines are as follows:
- May: within 21 days
- June: within 14 days
- July and August: within 7 days
Overseas
Overseas student fee (2026/27)
For this programme, all students pay the same tuition fees, regardless of their fee status.
Deposit
To secure a place on the programme, offer holders will be required to pay a non-refundable deposit equal to 15% of the tuition fee, split into two instalments.
For offers received by 30 April, the first deposit instalment (10%) will be due within 28 days of receiving the offer and the second deposit instalment (5%) will be due by 1 June.
For offers received from 1 May onwards, both instalments (total 15%) are due by the same date. The deadlines are as follows:
- May: within 21 days
- June: within 14 days
- July and August: within 7 days
At LSE, your tuition fees, and eligibility for any financial support, will depend on whether you’re classified as a home or overseas student (known as your fee status). We assess your fee status using The Higher education (Fee Limit Condition) (England) Regulations 2017.
Fee reduction
Students who have completed and passed an undergraduate degree at LSE and are beginning taught graduate study at the School are eligible for a 10 per cent tuition fee reduction.
Students who have completed and passed two or more Summer School courses are eligible for a five per cent reduction.
If you meet the eligibility criteria for both discounts, the higher 10 per cent discount rate will apply.
Find out more about the LSE alumni discount.
Scholarships and other funding
We recognise that the cost of living in London may be higher than in your home town/city or country and we provide generous scholarships to help both home and overseas students.
We offer some needs-based awards for this programme, including the Graduate Support Scheme. Competition for these awards and scholarships is strong. To apply for an award, you must have an offer of a place and submit a Graduate Financial Support application before the funding deadline.
The funding deadline for needs-based awards from LSE: 23 April 2026.
In addition to our needs-based awards, we offer scholarships for students from specific regions of the world and awards for certain subjects.
You can’t apply for a Graduate Support Scheme or LSE scholarship once you’ve joined the School.
Department scholarships
All scholarships are awarded on a rolling basis from November onwards.
- Women in Finance Scholarships
Funded by: Department of Finance
Value: up to £25,000
Open to: all successful female applicants. These
scholarships will be awarded based on merit: the aim is to support
exceptional female candidates take up their places on the programme and
embark on a career in the financial sector.
Number of awards: multiple
The scholarships will be a contribution towards tuition fees, and further information can be found on the Financial Support Office website.
- Antoine Faure-Grimaud Scholarships
Funded by: Department of Finance
Value: up to £25,000
Open to: all successful applicants to the programme. These scholarships will be awarded based on academic merit and financial need.
Number of awards: multiple
The scholarships will be a contribution towards tuition fees, and further information can be found on the Financial Support Office website.
Government tuition fee loans and external funding
The UK Government offers a postgraduate loan for eligible students studying for a first master’s programme. This is designed to help with fees and living costs. Some other governments and organisations also offer tuition fee loan schemes.
Find out more about tuition fee loans.
Further information
Learn more about fees and funding opportunities.
Learning and assessment
How you learn
Unlike the majority of MSc teaching at LSE, the MSc Finance courses are taught in a single three hour session, rather than a formal two hour lecture and a one hour associated class (at another time). This less formalised division between lecture and class makes it easier to teach with case studies and is also more in line with the teaching style used in business schools. The teaching allows the study of core theoretical concepts, whilst also allowing students to gain a practical understanding of the application of these concepts.
The majority of courses use case studies and practical homework problems to underpin the theory studied. In addition to the set work, you are expected to undertake a significant amount of reading and independent study throughout the year.
Since working well in a group is a key skill to develop and is particularly important to employers, some courses require you to participate in group work, for formative and/or summative assessment.
You can view indicative details for the teacher responsible for each course in the relevant course guide.
All academic faculty schedule weekly office hours in which you may visit them to discuss academic issues. In some cases you may be able to arrange a time to meet with a member of faculty outside of their office hours.
The MSc Finance Associate Programme Director is the academic mentor and pastoral supervisor for all students on the programme.
The Associate Programme Director works closely with the Programme Director and the Programme Manager, and is able to advise students on general issues regarding the programme.
Other academic support: at LSE, we offer many opportunities to extend your learning outside the classroom.
The Learning Lab is the place to discover and develop the skills you’ll need to reach your academic goals at LSE.
Through the Learning Lab, you can:
- attend practical workshops and one-to-one sessions on essay writing, conducting research, and on managing your reading lists, workloads, and deadlines
- develop your academic writing, reading, and critical-thinking skills to meet degree-level expectations
- work in study groups to strengthen collaboration, cross-cultural communication, and teamwork skills in a supportive environment.
Disability and Mental Health Service: we want all LSE students to achieve their full potential. Students can access free, confidential advice through our Disability and Mental Health Service. This is the first point of contact for students.
How you're assessed
Formative work
This is coursework that doesn't count towards your final grade. For the majority of courses, you'll be set weekly problem sets which you should complete before the following week’s class, where the teacher will work through solutions and answer questions. This provides you with an idea of how well you understand the material throughout the year. An indication of the formative coursework and summative assessment for each course can be found in the relevant course guide.
Summative work
This is coursework that counts towards your final grade. Most of the courses on the MSc Finance and Private Equity programme contain a summative coursework element.
Different courses set different types of summative work, however students should expect several pieces of work to be submitted over an eleven week term. Some courses require weekly submission of problem sets which all make up a small percentage of the final grade. In many courses you'll also take in-class assessments under exam conditions.
Graduate destinations
Overview
Graduates of the department have excellent career prospects relative to their peers. Our MSc programmes prepare students for a range of careers in investment banking, consulting and the wider financial services sector.
Our graduates take up demanding positions across a diversity of organisations spread around the globe. Some engage in their own start-ups, others join investment banks, brokerage houses, consultancies, financial boutiques and industrial concerns.
Read our latest employment report.
Top recent employers:
- China International Capital Corporation (CICC)
- Citi
- CITIC Securities
- Deutsche Bank
- Goldman Sachs
- HSBC
- JP Morgan
- McKinsey & Company
- Morgan Stanley
- UBS
Top recent employment locations:
- Frankfurt
- Hong Kong
- London
- Paris
- Shanghai
In addition to the internationally recognised research environment and academic rigour of its teaching programmes, a great advantage of studying at LSE is the reputation it holds amongst employers for producing high level graduates. Both the LSE Careers Service and the Department of Finance aim to help its students be as successful as possible on the job market once they graduate from the programme.
Further information on graduate destinations for this programme
Career support
Students of the Department of Finance will undertake the Finance Accelerator, alongside the academic programme, to support and prepare them to enter the job market. Starting in the pre-sessional course in September, students are given a wide range of careers support, from CV workshops and application advice to sector overviews and opportunities to meet and network with recent alumni who are working in London.
We run a number of events to best prepare students for the competitive financial services sector job market:
- introduction to careers in Finance
- City Speaker Series
- CV and cover letter workshops
- case studies for consulting masterclass
- 1-to-1 CV review appointments
- networking skills session
- alumni panels and networking reception.
Throughout the year, in addition to the great service offered by LSE Careers, the Department of Finance provides tailored, individual careers support to its students via a number of highly experienced sector consultants and Associate Programme Directors, each with significant experience of working in financial services.
We also spend a training day at the Royal Academy of Dramatic Art, and host Financial Modelling workshops.
Students take part in a day of communication and personal impact workshops with the Royal Academy of Dramatic Art (RADA). This training aims to increase levels of self-awareness and help students to make a positive impression in a professional context.
Working on core skills to become effective and influential communicators, students will learn to use the body and voice to positive effect, and to develop a free and open physical presence. Students will also explore techniques for delivering a successful video interview, by becoming familiar with the particular risks and pitfalls associated with distance interviews.
Drawing on more than a century’s experience of what is required to make actors excellent communicators, you will leave RADA with the tools and techniques to help you start your professional communication on the right foot.
During September, the department invites practitioners from a range of different areas of finance to talk to our students about their roles and the skills required to succeed. These sessions offer an informal opportunity for students to learn about specific sectors within finance and to assess their fit for specific careers and roles. In previous years, the City Speaker Series has included representatives from Goldman Sachs, Moelis & Co, Rothschild - Five Arrows, Deutsche Bank and many more.
Alumni network
The department’s multiple well-established master’s programmes mean we have a large and wide-ranging alumni network. Students get direct access to this through the alumni networking events that take place during the pre-sessional, Autumn Term and Winter Term.
With alumni in top jobs and senior positions in London and overseas, this great international network has brought employment opportunities directly to our current students as former graduates and their employers look to hire the very best.
In the past we've had success connecting both current students and alumni with members of our alumni community, with the aim of forming professional networks.
Interaction with part-time students
One of the advantages of running both the MSc Finance (full-time) and MSc Finance (part-time) programmes is that there are opportunities for students to interact with each other. This is particularly useful for full-time students building their network of professional contacts.
Twice a year the department organises an MSc Finance Networking Evening where students from both programmes and alumni are able to socialise and meet.
LSE Careers is a far-reaching resource available to LSE students and alumni, and is one of the best in the UK. Once registered at LSE you'll be able to access the variety of resources and services it provides. These include:
- recruitment fairs
- company presentations
- interview and application skills sessions
- personal careers meetings
- CV checking
- advice sessions.
LSE is very fortunate in attracting the top recruiters in many sectors which enables the careers service to run an LSE-exclusive vacancy board full of internships, voluntary, part-time and graduate positions.
See LSE Careers for further details.
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