Overview
Introduction
The success of virtually all organisations depends crucially on their ability to operate in the face of various risks. Risk management is increasingly recognised as central to the success of the organisation.
Deutsche Bank has been a valued partner of this programme since its inception. A distinctive feature of the core course is the Deutsche Bank practitioner seminars, which bridge theory and practice. These seminars offer students the opportunity to engage with senior professionals on a range of risk management topics and to present their own work for feedback. Each session concludes with an informal networking opportunity, allowing students to connect directly with the practitioners.
This degree programme addresses:
- What types of risks exist in various settings?
- What are the appropriate ways to classify, measure and manage risk?
- How do firms, financial institutions, governments and markets increase, decrease or change the nature of risk?
- What techniques can be used to transfer risk in markets, firms or societies?
Through this programme you'll acquire a broad knowledge of risk management and regulation. By choosing from a selection of elective courses you'll be able to customise the programme according to your desired area of specialisation.
Entry requirements
- Undergraduate degree
Upper second class honours (2:1) degree or international equivalent in any discipline and good quantitative skills.
- Quantitative skills
Successful applicants usually have a solid undergraduate background in one or more of the following areas: Economics, Finance, Mathematics, Statistics and Accounting. However, we also welcome applications from candidates with other backgrounds. If you don't have sufficient background in these areas, we may require you to take one or more LSE Summer School courses.
- 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/GRE
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.
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
Pre-sessional programme
The Department of Finance runs an extensive Professional Development Programme starting in early September. This course will involve a number of careers sessions to best prepare students for the competitive financial services sector job market. Read more about these under the “Graduate Destinations” section. The Professional Development Programme will also cover topics in statistics, economics and accounting with the objective to prepare students for the programme starting in October.
Year 1
You'll take courses to the total value of four full units. These will be made up of compulsory finance courses and optional courses offered by the Department of Finance and other departments where regulations permit. These elective courses can offer you flexibility to tailor your degree to your academic and professional interests.
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:
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
Choosing where to study is an important decision. Take time to explore what makes the MSc Finance and Risk distinctive, from our teaching and research expertise to the experience of studying within the Department of Finance.
Hear directly from our Student Ambassadors, meet our faculty, and read our student profiles to gain a clearer sense of the programme and our community.
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
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 of 10% of the tuition fee.
For offers received by 30 April, the deposit will be due within 28 days of receiving the offer.
For offers received from 1 May onwards, 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 of 10% of the tuition fee.
For offers received by 30 April, the deposit will be due within 28 days of receiving the offer.
For offers received from 1 May onwards, 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.
Please note: we do expect students who register for a programme to have sufficient funds for the duration.
Department scholarships
All scholarships are awarded on a rolling basis from November onwards.
- MSc Finance and Risk Excellence 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, dedicated 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.
Several courses use a mix of case studies and practical homework problems to underpin the theory studied. In addition to the set work, you're 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 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 and Risk Programme Co-Director acts as the main academic and pastoral supervisor for all students on the programme, and is the Academic Mentor for all students.
The Programme Co-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 lots of 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 work 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.
Summative work
This is work that counts towards your final grade.
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 some courses you will also take in-class assessments during your usual teaching time, under exam conditions. For some courses, exams will take place during the January exam period or Spring Term exam period.
Graduate destinations
Overview
Graduates of the department have excellent career prospects. Our MSc programmes prepare students for a range of careers in investment banking, consulting and the wider financial services sector.
Recent graduates from this programme have gone on to work in fields such as finance and banking, consulting, insurance, management, regulation and supervision, and public administration, among others.
Recent employers (past three years):
- BlackRock
- CICC
- Citi
- Deloitte
- Deutsche Bank
- Goldman Sachs
- JP Morgan
- KPMG
- UBS
Recent employment locations (past three years):
- Beijing
- Frankfurt
- Hong Kong
- London
- New York
- 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.
NB: This programme isn’t intended as suitable preparation for the PhD Finance at LSE (if you’re interested in PhD study, please see the MSc Finance and Economics).
Further information on graduate destinations for this programme
Career support
We provide extensive and tailored careers support to our students at every stage of their studies. This begins with a pre-arrival Careers Session for offer holders in the Summer, followed by dedicated careers sessions during the Professional Development Programme in September (see below). Throughout the academic year students benefit from one-to-one appointments with specialist careers consultants, networking opportunities with Deutsche Bank professionals and alumni, and applied learning experiences such as case studies, interactive discussions and guest lectures from industry experts.
You'll undertake the Professional Development Programme alongside the academic programme in order to support and prepare you to enter the job market. Starting in the pre-sessional course in September, you're 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
- One-to-one careers consultation
- networking skills session
- alumni panel and networking reception
- video interview training.
The department’s multiple well-established master’s programmes mean we have a large and wide-ranging alumni network. Students benefit from opportunities to meet and network with alumni who are working in London.
With alumni in top jobs and senior positions in London and overseas, this international network has brought employment opportunities directly to our current students as former graduates and their employers look to hire.
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.
During September the department organises a number of City Speaker lectures, where practitioners from a range of different areas of finance are invited in 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, JP Morgan, Deutsche Bank, and Kroll.
LSE Careers has a worldwide reputation. It offers a wide range of resources and events to registered students and alumni. These include:
- recruitment fairs
- company presentations
- interview and application skills sessions
- tailored careers advice
- CV checking
- mock interviews.
LSE Careers attracts top recruiters in many sectors, who actively target our students. It provides an LSE-exclusive vacancy board full of graduate positions, jobs for experienced hires, internships, voluntary and part-time work.
See LSE Careers for further details.
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