MBA in Finance in Germany

Germany is frequently referred to as a land of ideas and opportunities. Germany, a major hub for technology, research, and innovation, is one of the most sought-after countries for international MBA students. Germany, an appealing destination for knowledge seekers, places a high value on its educational system.

Masters in Finance programmes are available at a number of public and private universities in Germany. It is a two-year postgraduate programme. The admissions process takes place twice a year, in July and October for the winter and summer semesters, respectively. Students must have a bachelor's degree in finance or a related field.

Master of Finance course fees in Germany range from 129 EUR to 5,000 EUR per semester. Furthermore, when compared to other European Union regions, the cost of living in Germany is significantly lower. Students who take out an education loan benefit from a flexible repayment system. The German government allows 5 years after graduation to repay the loan amount.

Germany, as the world's fourth largest economy, has a developed market, which generates a number of jobs in the finance sector. The average monthly salary is 2500 Euros, which is nearly 5 times higher than in India for the same profile.

Why MBA in Finance in Germany?

Germany as a business education destination offers a wide range of MBA opportunities and sustainable career prospects. Professionals who are looking to play the role of aspiring managers are looking at pursuing MBA from Germany because of its high-quality education, affordable courses, and the presence of a robust economy. Students looking to pursue higher education in Germany have the benefit of being able to choose from a large pool of programs and schools. Students can choose from hundreds of MBA courses, offered in the country by all kinds of institutions of higher education such as business schools, art schools, colleges, technical colleges, universities, and universities of technology which are either private or state-funded.

Universities in Germany have dual admissions for one calendar year, i.e. in January and September. However, admissions for the January session are extremely limited. Students who choose Germany as their preferred MBA destination can either pursue a traditional MBA degree that focuses on general management or take a more unconventional approach and enrol in specialised MBA programmes that focus on niche industries such as healthcare management, consulting, and logistics, to name a few. The fact that students can choose from such a diverse range of MBA programmes has propelled Germany to the forefront of global education.

Best MBA Finance Colleges in Germany 

Education in Germany is more affordable than in other European countries. The majority of state-funded universities provide free higher education programmes. Tuition fees may apply to some highly specialised courses. At the start of each year, candidates must pay an Administration Fee.

The following are some of the best master's programmes in finance in Germany:

Top Universities

Course

Fee Structure

Total Duration

Eligibility

University of Mannheim

Master in Management

Rs. 3.4 Lakhs for First Year

2 Years

GMAT, GRE, IELTS

Leipzig University

Master of Science in Business Administration

Rs. 50.3 Thousand for First Year

2 Years

IELTS

Witten/Herdecke University

Management (M.A.)

Rs. 22.3 Thousand for First Year

1-2 Years

IELTS, TOEFL

EU Business School (Germany)

Master of Business Administration (MBA)

Rs. 22.4 Lakhs Lakhs for First Year

1 Year

GMAT, GRE

Munich Business School

MBA in International Management

Rs. 15.6 Lakhs for First Year

15 Months

GMAT, GRE, IELTS, TOEFL

Frankfurt School of Finance & Management

Master of Business Administration

Rs. 35.2 Lakhs for First Year

12 Months

GMAT, GRE, IELTS, TOEFL

Technical University of Munich

Executive MBA in Innovation and Business Creation

Rs. 25.7 Lakhs for First Year

2 Years

IELTS, TOEFL

Offenburg University of Applied Sciences

MBA International Business Consulting

Rs. 6.9 Lakhs for First Year

15 Months

IELTS, TOEFL

Reutlingen University

MBA in International Management

Rs. 8.0 Lakhs for First Year

1 Year

IELTS, TOEFL, PTE

EBS University of Business and Law

Master in Management

Rs. 13.1 Lakhs for First Year

20-24 Months

GMAT, GRE, IELTS, TOEFL

Cost of Studying MBA Finance in Germany

The costs of pursuing an MBA in Germany will vary depending on the institute you attend. The fee is currently around 30K EUR/ Rs 2469174. Each university has its own set of tuition and fees. Students attending public universities that do not charge tuition must only pay a semester fee of approximately 500 EUR/ Rs 41152 per semester. 

Cost of Living in Germany

Types of Costs

Cost in EUR

Cost in Rs

Accommodation

400 EUR

Rs 32912 Approx Monthly

Transportation

200 EUR

Rs 16456 Approx monthly

Study Materials

50 EUR

Rs 4114/- Monthly Approx

Health Insurance

103.94 EUR

Rs 8474 Monthly

MBA in Finance in Germany: Eligibility Criteria

In Germany, there are two types of universities: public and private. Each university in Germany has its own set of MBA eligibility requirements. In Germany, an MBA can be obtained without prior work experience, which is not the case in many other countries.

Because German colleges are not governed by a centralised authority, MBA requirements in Germany are quite diverse. 

The following are the general eligibility criteria:

  • A bachelor's degree in relevant fields is equivalent to a bachelor's degree in Germany; it can be a four-year degree or a three-year degree with a one-year master's degree.
  • GMAT/GRE/IELTS/TOEFL score must be valid. Exam scores are accepted differently by each university. Because most German colleges only require a valid TOEFL score, it is possible to apply for an MBA in Germany without taking the GMAT.
  • Basic knowledge of the German language is required. Although most German colleges offer MBA programmes in English, having language skills is preferred.
  • Working Knowledge

Because different universities and programmes have different requirements, there are no guidelines for determining whether an applicant qualifies for an MBA in finance in Germany.

The Executive MBA in finance, which is available in Germany, is another popular and versatile degree for seasoned professionals. Employers fund the majority of this MBA, which requires at least two years of prior work experience.

Exams Required to Study MBA in Finance in Germany

Aside from the basic requirement, universities may also require students to have passed and scored a certain level in GMAT/GRE/IELTS/TOEFL exams, as well as have a basic understanding of the German language. Students must have a high level of knowledge for courses taught in German, and to be eligible, candidates must take language proficiency exams such as TestDAF/DSH. To be considered for admission to the university, students may be required to take an Entrance Test. Again, always check with the University for the Tests required to apply to your desired course.

Scholarships for MBA in Finance in Germany

Scholarships assist international students who wish to pursue an MBA in finance at a German university by covering all or a portion of their tuition costs. 

Some of the best MBA scholarships in Germany for Indian and international students are listed below:

Scholarship

Amount

Semester Scholarships for Students of Indian Institutes of Management (IIM)

750 EUR/ Rs 61,729

Health, accident and liability insurance cover

Master’s Scholarships for Public Policy and Good Governance (PPGG)

750 EUR/ Rs 61,729 monthly

Central Sector Scheme of National Overseas Scholarship

35956 EUR/ Rs 2959388/-

Friedrich Ebert Foundation: Scholarship for International Students

Amount- 670 EUR/ Rs 55144/-

How to Apply for MBA in Finance in Germany?

The admission process for an MBA in finance in Germany varies by university. However, the required documents and the online application process remain the same. You must apply for admission through the university's official website. 

A student who wishes to pursue an MBA in finance in Germany must submit the following documents:

  • Recognized bachelor's degree
  • Undergraduate Transcripts
  • German or English Language Proficiency Score
  • SOP/LOR
  • References
  • Work experience
  • Financial Documents

Masters in Finance in Germany is a premium course for students looking for rapid career advancement in the financial sector. It is a sector that is required in both corporate and non-corporate fields. There are approximately 20,000 Indian students studying in Germany, with approximately 30% studying finance.

After completing the degree, it will be relatively simple to find work and earn a good living. According to German Chancellor Angela Merkel, up to 20,000 Indian nationals are studying in Germany, and the country would like to see more. In addition, the governments of both countries are working to establish a parallelism between Indian and German university degrees. Contact AECC Global to know more about studying in Germany.

 FAQ

AECC Global is one of the world's leading educational consultancies with versatile expert professionals who are ready to help you with any queries you may have. Contact us so we can be of assistance to you in your journey of fulfilling your dream.


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