By Carlos Montes, MFA2026
When I first heard that I’d be doing a lot of group projects at LBS, I was worried it would be a nightmare — especially about the possibility of having free riders on my team. In reality, most students at LBS contribute fairly, and the academic team is always attentive to making sure it stays that way.
What is a study group?
Each term, every LBS student is assigned to a study group: a team of 6-7 classmates (depending on the programme) with whom you complete most of your group projects. What makes these groups special is how intentionally diverse they are. LBS builds teams that bring together different nationalities, genders, academic backgrounds and professional experiences. This ensures that every student is exposed to a variety of working styles and cultural perspectives. In my case, this past term, our group had six students — three women and three men from Germany, China, Montenegro, Poland, India, and Mexico. It’s hard to find a more global classroom than that.
What kinds of projects do study groups work on?
It depends on the programme, but in the Masters in Financial Analysis (MFA), the projects closely mirror the type of work you’ll do early in your career, especially in Investment Banking or Asset Management, the two most common paths.
Some examples of the projects my study group completed in Term 1 were:
- A trade idea: equity research, a full financial model, and a buy/sell pitch for a public company.
- Portfolio optimization: building a mean–variance allocation for a diversified set of securities.
- M&A analysis: evaluating a competitive acquisition battle for a company.
- Risk simulation: a risk-based model to assess whether a new product should be launched given uncertain cash flows.
These projects are hands-on and practical. They teach you how to actually do the work, rather than simply memorize the underlying theory.
Why do study groups matter?
- Learning how to work in a global environment
London is one of the world’s most international financial centers. As an analyst, you’ll constantly collaborate with people from different cultures, time zones, and professional norms. Study groups give you a safe space to learn how different cultures approach problems, how disagreements are expressed and resolved, and how to leverage diverse viewpoints to reach stronger outcomes.
- Improving your market and business intuition
Additionally, working with international teammates exposes you to how people from different countries think about markets, how cultural context shapes business decisions, and how global perspectives strengthen investment theses. You start connecting dots faster and understanding the world in a more nuanced way.
- Making LBS diversity truly meaningful
Many international universities feel diverse but remain socially segmented — students stick to their regional groups, speak their language, and take comfort in familiarity. Study groups prevent that. They encourage you to truly engage with the global nature of LBS, ensuring you learn as much from your peers as you do from your professors.
Final thoughts
Study groups are not just a logistical tool; they’re a core part of the LBS learning experience. They challenge you, broaden your perspective, and prepare you for the global workplace you’re about to enter. And if, like me, you’re initially worried about group work — don’t be. With the right mindset, your study group will become one of the most enriching parts of your LBS journey.