 Postgraduate students at the LSE are required to have a first or upper second Class UK honours degree, or its foreign equivalent, for master's degrees, while direct entry to the MPhil/PhD programme requires a UK taught master's with merit, or foreign equivalent.Admission to the diploma requires a UK degree or equivalent plus relevant experience.The intake to applications ratio for postgraduate degree programmes is very competitive; the MSc Financial Mathematics had a ratio of just over 4% in 2016.