A Master’s in Business Administration is one of the most popular courses in Germany. Known for its excellent education system, Germany has over 400 colleges and universities. They have 1,500 English-taught programs with many for masters in business. Germany is the eighth most popular destination for international students, and currently has over 380,000 international students.
The post-study work conditions in Germany make it favourable among international students. About 57% of international students in Germany stayback to work after finishing their studies. Top companies such as Amazon, Siemens, SAP and BMW hiring management graduates in Germany, with an average salary of EUR 78,000 (INR 70 lac).
Germany is an excellent destination for an MBA. It gets even better when you find out that public universities offer MBA free of cost. However, Germany has a strict evaluation process. Connect with Yocket Counsellors to know how you can crack the code to a successful admit at a top-ranked German university. Connect with us now!
Cost Breakdown Pre and Post-Arrival
Before starting this educational journey, students must understand the total cost breakdown. This includes costs before and after arrival. They need this to plan and manage finances well. Pre-arrival expenses include application fees, standardised test costs, visa expenses, and health insurance.
After arrival, you must pay for tuition, housing, living, transit, and other costs. Understanding these costs helps students make informed choices. It also helps them navigate the financial landscape well. This enhances their experience of pursuing an MBA in Germany.
Suggested: GMAT Accepting Colleges in Germany
Pre-Arrival Cost Breakdown for MBA in Germany
Before starting an MBA in Germany, you must understand the pre-arrival cost breakdown. They include application fees, visa charges, health insurance, and accommodation deposits. Seeing these upfront costs helps future students. It lets them better prepare for their move to study in Germany. We shall explore the following cost variants:
Tuition Fees for MBA Colleges in Germany
The fees for German universities vary according to the institution and the type of program you're applying to. Public universities do not have any tuition fee, but they have an enrollment fee of EUR 200- EUR 1,400 (INR 17,000 to INR 1.25 lac). In the case of private universities, an MBA can cost between EUR 5,000 to EUR 8,000 (INR 7 lac to INR 44 lacs) per annum. Make sure to check the requirements of each university and program you're interested in.
Given below are the tuition fees for top B-Schools in Germany:
|
University Name |
Average Tuition Fees for International Students per year (in EUR) |
Average Tuition Fees for International Students per year (in INR) |
|---|---|---|
|
Mannheim Business School |
40,500 |
33,32,700 |
|
38,943 |
32,04,500 |
|
|
39,950 |
32,87,530 |
|
|
24,098 |
19,83,000 |
|
|
European Business School |
24,214 |
19,92,500 |
Also Read: Top Universities in Germany With No Application Fees
Standard Examination Fees
You may need to take some exams to study an MBA in Germany. The exams and their costs are listed below:
- Many MBA programs in Germany require the GMAT (Graduate Management Admission Test). This is especially true for programs taught in English. The GMAT assesses analytical writing, integrated reasoning, quantitative reasoning, and verbal reasoning skills. It's used by business schools worldwide as part of the admissions process. This costs INR 23,000 (EUR 275).
- Some universities may accept the GRE for MBAs instead of the GMAT. The GRE evaluates verbal reasoning, maths, and writing. It's more commonly used for admissions to graduate programs across various disciplines. The GRE exam fee for Indian students is about INR 22,550.
In addition to the GMAT and GRE, many MBA programs in Germany also require proof of English skills. This is for non-native English speakers. Two standard exams for this purpose are:
- The TOEFL measures English ability. Many universities worldwide accept it. It assesses reading, listening, speaking, and writing skills. Many MBA programs in Germany may require a minimum TOEFL score as part of the admissions process. This costs INR 16,900.
- IELTS (International English Language Testing System) is like the TOEFL. It is another widely accepted English proficiency test. It assesses the four language skills: listening, reading, writing, and speaking. Some German MBA programs may also accept IELTS scores. They use them to show English skills. This costs INR 17,000.
|
Test |
Registration fee |
Total number of fee scorecards |
Cost per additional scorecard |
|---|---|---|---|
|
INR 15,500 |
5 |
INR 1,500 |
|
|
INR 15,475 (USD 190) |
4 |
INR 1,629 (USD 20) |
|
|
GMAT |
INR 22,400 (USD 275) |
5 |
INR 2,850 (USD 35) |
|
GRE General Test & GRE Home Test: INR 17,350 (USD 213) |
4 |
INR 2,444 (USD 30) |
The exams ensure that non-native English speakers have the language skills. They need these skills to succeed in an English-language MBA program. As with the GMAT and GRE, you must check each university's English and program requirements.
German Student Visa Fees
Visa fees are crucial for Indian students planning to study in Germany. The standard German student visa fee is about INR 7,800. But, it can vary based on the type and duration of the visa. You should refer to the German embassy or consulate on India's official website. It has the latest fee info. Also, there may be extra charges for services. These include things like processing visas and collecting biometric data. Planning for these expenses in advance is critical. It helps you avoid last-minute financial hurdles in the application process.
Housing Deposit
In Germany, obtaining housing typically entails paying a housing deposit. The deposit is a form of assurance for landlords. It covers potential damages or rent. Understanding this part of renting is vital. It's critical for those planning to live or study in Germany. It's a standard procedure for getting accommodation there.
In Germany, rental deposits are not standardised. But, the German Civil Code limits them to at most three months' rent. This pertains to the "cold rent," excluding utilities and other costs.
Living expenses form a significant portion of the total fees for an MBA in Germany. International students typically spend INR 89,000 to INR 1,34,000 (EUR 1,000 to EUR 1,500) monthly. The amount varies with their chosen standard of living in Germany.
Also read: Cost of Studying MBA in Germany
Travel Expenses to Germany
Travel expenses to Germany are crucial to consider when planning a trip. Understanding the costs involved is essential for effective budgeting and ensuring a smooth travel experience.
Navigating travel expenses to Germany requires careful consideration and planning. Assessing costs for transportation, accommodation, and other essentials is essential to budget effectively and make the most of your journey.
By flight, it costs INR 35,000 - INR 80,000.
|
Expenses |
Cost (in INR) |
|---|---|
|
Application Fees |
4,400 - 13,400 |
|
Examination Fees |
40,000 |
|
Visa Fees |
7,800 |
|
Housing Deposit |
89,000 - 1,34,000 |
|
Travel Expenses |
35,000 - 80,000 |
Post-Arrival Cost Breakdown for MBA in Germany
The breakdown shows the costs after arrival. The critical key for planning an MBA in Germany. It is an essential key aspect for prospective students. You need to navigate these post-arrival expenditures. They cover accommodation, living, and academic materials. They are doing this to achieve a smooth transition and successful studies in Germany. This overview aims to shed light on the costs of living and studying in Germany as an MBA student. It offers valuable insights for budgeting and financial planning. Here are some key factors to consider:
- Accommodation
- Food and Groceries
- Transportation
- Health Insurance
- Books and supplies
- Miscellaneous
Cheapest MBA colleges in Germany
Living Cost in Germany
Finding housing is crucial for international MBA students in Germany—a critical key to success in their studies. Germany offers diverse housing options, from university-provided to private rentals. They know these characteristics are essential for a smooth transition. They also create a suitable living environment.
Living expenses are a big part of getting an MBA in Germany. As an international student, you can expect to spend EUR 1,000 to 1,500 per month. The exact amount depends on your chosen standard of living.
The living expenses for an MBA in Germany have been tabulated below:
|
Expenses |
Cost (in INR) |
|---|---|
|
Accommodation |
35,700 - 62,500 |
|
Transportation |
17,900 |
|
Study Materials |
4,500 |
|
Health Insurance |
9,300 |
|
Food |
17,900 - 24,000 |
|
Social Activities |
9,000 - 13,400 |
|
Miscellaneous |
17,900 - 26,800 |
9 Tips to Save Money in Germany
Save on accommodation by living off-campus or in shared spaces. Consider dorms or hostels. Explore services like KC Overseas Education for cheap housing.
- Travel smart: Save on travel with a frequent flyer account. Stay informed about delays. Remember the importance of travel insurance. It's often mandatory for students abroad. It covers expenses like lost belongings and medical emergencies.
- Student Discounts: Get an ISIC card for exclusive student discounts. They are for various activities, public transport, museums, and more. Maximise these discounts to ease financial pressures.
- Cook owns meals: Learn to cook for savings, health, and stress relief. Plan, shop smartly, and enjoy the therapeutic benefits of preparing your meals.
- Sustainable commuting: Avoid the expense of owning a car. Opt for biking, public transport, or walking for savings and improved well-being.
- Second-hand study materials: Cut study costs by purchasing second-hand textbooks and materials. Utilise university library services and seek guidance from seniors to access affordable resources.
- You can explore local attractions and cultural spots for free. Just take advantage of free entertainment options. Uncover the charm of your new city on a budget.
- Budget-friendly communication: Keep communication costs low with apps like WhatsApp and Skype—Utilise free Wi-Fi from your university and restaurants. Explore options like GoogleFi for affordable international calls.
From the Desk of Yocket
Pursuing an MBA in Germany requires careful financial planning, encompassing pre-arrival and post-arrival expenses. Understanding the economic landscape is crucial for a smooth transition from application fees to accommodation and tuition fees. At Yocket, we provide comprehensive support to students, empowering them to make informed decisions and embark on their MBA journey in Germany with confidence.
At Yocket, our counsellors offer personalised support and guidance tailored to your needs as you navigate the complexities of studying abroad. From visa applications to managing living expenses, we're here to empower you to make informed decisions and achieve your academic goals with confidence.
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