Germany is slowly picking up pace to becoming one of the most sought-after countries for a degree in Finance. Not only is a Master in Finance in Germany extremely affordable, it may also affirm a lucrative career with a good growth potential. Being home to some of the most exceptional universities in the world -offering top-quality higher education, a vibrant student life and innovative technology - Germany has become a student-favorite. Therefore, if an MS in Finance is something you are contemplating, we have curated a list of top universities along with essential details related to applying for a Masters in Finance in Germany.
Why Study MS in Finance in Germany?
Let us first begin by understanding what makes Germany a preferred choice for masters in Finance for international students -
- Thriving Financial Sector: Given the boom in the economy, Germany’s financial sector is also thriving at the moment. The financial industry contributes the most to the German economy, is ever-evolving and in constant need of more capable working professionals.
- Popularity: While Universities in Germany offer a myriad of programs from all disciplines, finance is quickly becoming the most sought after. Of the almost 40,000 Indian students enrolled in German universities almost a half of them are studying Finance.
- Very Affordable: If you are thinking about MS in Finance in Germany cost, you would be delighted to know that it's quite affordable. The best Finance universities in Germany are public universities that charge no to minimal tuition fees.
Therefore, if you have completed your Bachelors in Finance and are wondering where to apply for your masters, be rest assured that Germany is the best option for you.
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Eligibility Criteria & Admission Requirements for MS in Finance in Germany
Although every university has their own eligibility requirement, the best universities in Germany for masters in finance generally have a few things in common. These are requirements that are generally constant irrespective of the university you are applying to -
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A Valid Bachelor’s Degree
The first eligibility requirement for masters in Finance is that you must have a Bachelors in Finance or equivalent relevant field.
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Consistent Grades
German Universities are highly competitive. Therefore, to give an edge to your MS in Finance application, you will require consistently high grades for the duration of your Bachelor’s degree. Generally, top German universities prefer candidates with a GPA above 3.0.
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Aptitude Test
Depending on the university you are applying to, you may be asked to produce an aptitude test score. GATE, GRE are some of the exams that may be considered for examination.
Make sure you check with the university for any such exam requirements, well in advance.
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Language Proficiency Requirements
The mode of instruction in many German Universities is German Therefore, most universities may require German proficiency at a B2 level in accordance with the Common European Reference for Languages.. Apart from proficiency in German, students may also be required to produce the English proficiency scores in IELTS or TOEFL. A score of 80 or above in TOEFL or 6.5 or above in IELTS is considered a good score.
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Document Requirements
A student needs to produce the following documents for admission to MS in Finance course in Germany -
- Educational Transcripts
- Letter of Motivation (similar to Statement of Purpose)
- Updated Resume (CV)
- Proof of Language Proficiency (for example, IELTS or TOEFL for English; DSH for German)
- Letters of Recommendation
- Germany Blocked Account
- Current Photos and Copy of Passport
- Evaluation of Bachelor’s certificates by uni-assist for a degree obtained in a country outside of the EU/EEA
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Visa Requirements
Having met the admission requirements, the next step is to get a German student visa. It is mandatory for all foreign students accepted into German universities. The German National Visa Application also requires several documents including Health & Travel insurance, passport, Letter of Admission, etc.
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REMEMBER: Some German universities may have additional requirements for admission. Therefore, make sure you check the official website to understand any additional requirements. |
Admission Process for MS in Finance in Germany
The admission process for master in finance in Germany begins with respect to the application deadline. German Universities generally open their applications in two batches, depending on the University:
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Winter Season Applications open in December-January |
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Summer Season Applications open in July-August |
Along with the filled in application form, you will be required to attach the required documents mentioned above for the desired university.
Now, every university may have slight variations in terms of the admission process, but more or less, it remains the same. However, it is best to check with the university.
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Top Universities in Germany for Masters in Finance
Now that we now about the admission process and requirements for master in Finance in Germany, let us find out which ones are the top universities in Germany for Masters in Finance
The Technical University of Munich (TUM) is one of the top universities in Germany, ranking high on all major University excellence lists. The masters in Finance course at TUM offers students an in-depth knowledge in the field of Finance along with other areas. Students can choose between the streams that suit their needs the best.
|
Type |
Public university |
|
QS World Ranking 2022 |
50 |
|
Mode of Instruction |
English (But Basic German Proficiency required for International Students) |
|
Average Tuition Fee |
No Tuition Fee |
|
Program Offered |
Masters in Finance & Information Management M.Sc. Mathematical Finance and Actuarial Science |
Goethe University Frankfurt is one of the most established public Universities in Germany, renowned for its innovative and modern academic structure and course programs. While primarily a business school, the University has a stellar Masters program in Finance which is held entirely in the House of Finance in Frankfurt! If you are looking for the best masters in finance in Germany, this must be among your top choices. Frankfurt is also a major financial centre of the world - adding to the overall appeal of the program.
|
Type |
Public university |
|
QS World Ranking 2022 |
340 |
|
Mode of Instruction |
English |
|
Average Tuition Fee |
No Tuition Fee |
|
Program Offered |
Masters of Science in Money and Finance |
Philipps University of Marburg is one of the oldest public Universities in the state of Hessen, Germany and also an incredibly well-reputed one. With an enrollment of almost 30,000 students, an impressive 20% of students are International students - making the campus environment incredibly diverse and global. The University offers a Masters program in Finance replete with ‘state-of-the-art’ learning content and innovative, practical approaches to theoretical concepts.
|
Type |
Public university |
|
QS World Ranking 2022 |
701-750 |
|
Mode of Instruction |
German and English |
|
Average Tuition Fee |
No Tuition Fee |
|
Program Offered |
Master of Science in Quantitative Accounting and Finance |
Located in the scenic city of Kiel, The University of Kiel is one of the oldest public, research-oriented Universities in all of Germany. Given its excellent teaching methods, faculties, and programs, it has consistently been included in the ‘German Universities Excellence’ list. With respect to its Masters in Finance program, the University lays a firm emphasis on financial economics, theories of business management, econometrics, and more as the foundation for all learning.
|
Type |
Public university |
|
QS World Ranking 2022 |
494 |
|
Mode of Instruction |
English |
|
Average Tuition Fee |
No Tuition Fee |
|
Program Offered |
Masters in Quantitative Finance |
Established in 1477, the Johannes Gutenberg University of Mainz is one of the most distinguished and reputable Universities in Germany. It is also one of the most pioneering research-based universities, attracting scores of International students every semester. In fact, almost 15% of the student population here is a composite of International students. An important aspect of the Masters in Finance program, is a mandatory requirement of a Bachelors of Science in Economics.
|
Type |
Public university |
|
QS World Ranking 2022 |
427 |
|
Mode of Instruction |
German |
|
Average Tuition Fee |
No Tuition Fee |
|
Program Offered |
Masters in Accounting and Finance |
Founded in 1970, University of Kaiserslautern is a research-oriented public University renowned for its technical training programs. It is one of the highest ranked universities in Germany for its Mathematics, Finance and Computer Science Programs. Therefore, the Masters in Finance course at this University is primarily focused on mathematical finance and actuarial science.
|
Type |
Public university |
|
QS World Ranking 2022 |
NA |
|
Mode of Instruction |
English |
|
Average Tuition Fee |
No Tuition Fee |
|
Program Offered |
Masters of Science in Financial Engineering |
Career Opportunities in Germany After MS in Finance
The immense career opportunities that await students after graduation are not lost on anyone. With an MS in Finance, you could apply to some of the biggest companies in Germany, for instance, Audi, Deutsche Bank Group and more!
Exciting career opportunities await those completing their Masters in Finance. Germany is currently the fourth largest economy in the world, and therefore, there is no dearth of lucrative jobs for graduates in this field.
Average salaries after completing a MSc finance can go upto 1,00,000 EUR per year. Here are some of the prospective job profiles for graduates in Finance in Germany:
|
Job Title |
Average Base Salary |
|
Investment Banker |
71,803 EUR per year |
|
Accountant |
57,506 EUR per year |
|
Financial Analyst |
61,675 EUR per year |
|
Financial Advisor |
56,574 EUR per year |
|
Trader |
74,785 EUR per year |
Frequently Asked Questions About Masters in Finance in Germany
- Is MSc Finance Germany cheap for international students?
Most German public Universities do not charge tuition fees. Even private Universities who charge tuition are most likely highly subsidized. Therefore, masters in finance in Germany for international students is quite nominal as compared to other countries.
- Is Germany good for masters in finance?
Yes, Germany is an extremely popular choice for those considering Finance given its rapidly growing economy, technological advancement, and a skilled and diverse workforce.
- Which country is best for Masters in Finance?
Germany is a top contender for Masters in Finance given its affordable fees, cost of living as well as a booming economy and financial sector. Close follows with respect to career opportunities and quality of education are the United Kingdom, United States and France .
- Are private universities in Germany for MS in Finance good?
The best Finance universities for Finance in Germany are public universities.
- Is MSc Finance in Germany difficult?
MSc Finance Germany can be a challenging course that requires students to put in their best step forward. However, this is rewarded by equally well paying jobs.
German universities promise academic excellence for international students both in terms of quality and affordability. Therefore, pursuing an MS in Finance in Germany is an incredibly lucrative option for study abroad aspirants along with a wide scope of jobs in Germany after masters. So, go ahead, find the universities that best suit you and start applying.
