MSc in Finance in Germany: Top Universities, Fees & Requirements

MS in Finance in Germany: Course Highlights

Before we go into the details, here is an overview of the best finance courses in Germany:

Also read: Top 10 MS Universities in Germany

Top Universities in Germany for Masters in Finance

Germany is one of the best countries to pursue an MSc in Finance. Germany is famous for practical training and forging industry connections. A Master’s program in Germany usually lasts for two years. Here are some of the top universities that offer Finance programs:

• Technical University of Munich 
• Goethe University Frankfurt 
• Philips University, Marburg
• University of Kiel 
• Johannes Gutenberg University 
•  University of Kaiserslautern 
• Free University of Berlin
• University of Mannheim
• University of Cologne 
• Ludwig Maximilian University of Munich

Let’s go through each university in detail:

1. Technical University of Munich

The Technical University of Munich (TUM) is one of the top universities in Germany. The Master in Finance course at TUM offers students in-depth knowledge of the field of finance along with other areas. Students can choose between the streams that suit their needs the best.

2. Ludwig Maximilian University of Munich 

Founded in 1472, Ludwig Maximilian University has a long and distinguished history as one of Europe’s finest universities. It has produced numerous Nobel Laureates, scholars, and influential figures. It offers multiple exchange programs, dual-degree options, and English-taught courses to international students and promotes cross-cultural learning experiences.

It offers a Master’s Program in Management with a specialization in Finance. The students in this program can choose elective courses or concentrations to tailor their degree to their specific interests. 

3. Freie University of Berlin

Freie University of Berlin is one of the largest universities in Germany, mainly known for its meticulous teaching and research facilities. Founded in 1948, it is constantly ranked amongst the top universities internationally, offering Undergraduate, graduate, and doctoral programs across various disciplines.

The Master’s in Finance program covers multiple topics, including financial markets, financial analysis, corporate finance, investment management, risk management, and financial econometrics.

4. University of Cologne 

The prestigious University of Cologne was founded in 1388 and is highly regarded for its programs in various disciplines such as business administration, economics, law, social sciences, humanities, natural sciences, and medicine. It offers a Master’s in Finance, providing individuals with advanced knowledge and skills in finance theory, quantitative methods, and practical applications in the finance industry. The program prepares students for careers in finance, banking, investment management, consulting, and other related fields.

5. Goethe University Frankfurt

Goethe University Frankfurt is one of Germany's most popular public universities. It is renowned for its innovative and modern academic structure and course programs. While primarily a business school, the university has a stellar master's program in Finance, held entirely in the House of Finance in Frankfurt!

If you are looking for the best master's in finance in Germany, this must be among your top choices. Frankfurt is also a major financial center of the world - adding to the program's overall appeal.

6. University of Mannheim

This leading University of Germany was established in 1967. This university is highly regarded for its business, administration, economics, social sciences, humanities, law, and natural sciences programs—one of the flagship programs at the University of Mannheim Master in Management (MMM). 

The University of Mannheim is committed to internationalization and maintains partnerships with universities. The University offers a Master’s program in Finance, which is part of the MMM program mentioned above. 

7. Johannes Gutenberg University of Mainz

Established in 1477, the Johannes Gutenberg University of Mainz is one of Germany's most distinguished and reputable Universities. It is also one of the most pioneering research-based universities, attracting scores of International students every semester.

Almost 15% of the student population here is a composite of International students. An essential aspect of the Masters in Finance program is the requirement for a mandatory Bachelor of Science in Economics.

8. Philipps University, Marburg

Philipps University of Marburg is one of the oldest public universities in the state of Hessen, Germany, and it is also an incredibly well-reputed one. With an enrollment of almost 30,000 students, an impressive 20% are International students - making the campus environment extremely diverse and global. The University offers a master's program in Finance with ‘state-of-the-art’ learning content and innovative, practical approaches to theoretical concepts.

9. University of Kaiserslautern

Founded in 1970, the 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 Master in Finance course at this University is primarily focused on mathematical finance and actuarial science.

10. University in Kiel

Located in the scenic city of Kiel, the University of Kiel is one of Germany's oldest public, research-oriented universities. Given its excellent teaching methods, faculties, and programs, it has consistently been included in the ‘German Universities Excellence’ list. 

Concerning its Master in Finance program, the University strongly emphasizes financial economics, business management theories, econometrics, and more as the foundation for learning. 

Suggested: Top MIM Colleges in Germany 

MSc in Finance Course Structure & Duration

The course consists of modules that include studies across financial markets, corporate finance, financial statement analysis, financial economics, quantitative finance, and investment analysis. It also contains electives like

• Advanced Corporate Finance
• Behavioral Finance
• Financial Markets and Institutions
• Private Equity
• Venture Capital
• Mergers and Acquisitions

The course spans 2 years or 4 semesters in general. While there are no tuition fees for many Public Universities in Germany, the average cost for other private schools can be INR 32,89,143 (EUR 36,500). There are various Merit-based and need-based scholarships. Other scholarships include WHU Excellence Scholarships, HHL Women in Business, HHL Young Leader, and the ESMT Women’s Scholarship. 

MS in Finance in Germany: Eligibility & Admission Requirements

Although every university has its eligibility requirement, the best universities in Germany for masters in finance generally have a few things in common. These are requirements that are usually constant irrespective of the university you are applying to: 

A Bachelor’s Degree

The first eligibility requirement for a master's in finance is that you must have a bachelor's degree in finance or an equivalent relevant field.

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 your Bachelor’s degree. Generally, top German universities prefer candidates with a GPA above 3.0.

Aptitude Test

Depending on the university you are applying to, you may be asked to produce an aptitude test score. GMAT and GRE are some of the exams that may be considered for examination. Ensure you check with the university well in advance for exam requirements.

Language Proficiency Requirements

The mode of instruction in many German Universities is German. Therefore, most universities may require German proficiency at a B2 level. Apart from proficiency in German, students may also be required to produce English proficiency scores in IELTS or TOEFL. A score of 90 or above in TOEFL and seven or above in IELTS is considered good.

Document Requirements

A student needs to produce the following documents for admission to the 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

Suggested: Sample SOP for Germany

Visa Requirements for Germany

The next step is to get a German student visa. It is mandatory for all international students accepted into German universities. The German National Visa Application also requires several documents, including Health & Travel insurance, a passport, a Letter of Admission, etc.

Also read: Everything you need to know about student visas in Germany

Admission Process for MS in Finance Germany 

The admission process for a master's in finance in Germany begins with the application deadline. German Universities generally open their applications in two batches, depending on the University:

You must attach the required documents for the desired university and the filled-in application form.

Applying to a university in Germany for a Master's in Finance involves several steps. Here’s a step-by-step guide to help you navigate the process:

Step 1: Research and Choose Universities

1. Identify Programs: Research universities in Germany that offer a Master’s in Finance. Use resources like DAAD (German Academic Exchange Service) and university websites.

2. Check Eligibility: Ensure you meet the academic requirements for each program. This typically includes having a relevant bachelor's degree and meeting specific GPA criteria.

3. Language Requirements: Check if the program is taught in English or German and if you meet the language proficiency requirements (e.g., TOEFL, IELTS for English; DSH, TestDaF for German).

Step 2: Prepare Necessary Documents

• Academic Transcripts: Obtain certified copies of your bachelor's degree transcripts.
• Proof of Language Proficiency: Collect your TOEFL/IELTS scores for English or DSH/TestDaF for German-taught programs.
• Statement of Purpose (SOP): Write a compelling statement explaining your interest in finance and why you want to study at that particular university.
• Letters of Recommendation: Obtain 2-3 academic or professional references.
• Curriculum Vitae (CV): Prepare an updated CV detailing your academic and professional background.
• Passport: Ensure you have a valid passport.

Step 3: Apply Online

• Uni-Assist: For some universities, you’ll need to apply through Uni-Assist, a service that pre-screens applications for many German universities. Create an account, fill out your profile, and submit your documents.
• Direct Application: Other universities might require you to apply directly through their online portals. Follow their specific application instructions and upload your documents accordingly.

Step 4: Pay Application Fees

Pay any application fees required by the universities. This is often done through online application portals.

Step 5: Submit Applications

• Double-check Submissions: Ensure all required documents are uploaded and correctly filled out.
• Submit Before Deadlines: Submit your applications well before the deadlines.

Step 6: Attend Interviews (If Required)

Some universities may invite you for an interview. Prepare thoroughly and be ready to discuss your academic background and motivation.

Following these steps methodically will help you manage the application process smoothly and increase your chances of securing admission to a Master’s in Finance program in Germany. Every university may have slight variations in the admission process, but it remains the same. However, it is best to check with the university.

Important: Application Process & Requirements for MS in Germany

Cost to Study MSc Finance in Germany

The tuition fees for studying MSc Finance in public universities in Germany can be up to EUR 3,000 per annum, compared to an annual tuition fee of EUR 10,000 to EUR 40,000 at private colleges.

The total cost of studying for a German finance master's also includes the living expenses for Germany, which are approximately EUR 5,000 to EUR 10,000 per annum, depending on your lifestyle. 

Suggested: What is the Total Expense of studying in Germany?

Scholarships Available for MSc Finance Germany

Given below are some popular scholarships available at the best universities for MSc Finance Germany:

Read more on the Fully Funded Scholarships in Germany

Career Opportunities in Germany After Germany Finance Masters 

With an MS in Finance, you could apply to some of the biggest companies in Germany, such as Audi, Deutsche Bank Group, and more! Exciting career opportunities await those completing their Masters in Finance. Germany currently has the fourth largest economy in the world; therefore, there is a reasonable number of lucrative jobs for graduates in this field.

After an MSc in finance, average salaries can go up to EUR 1,00,000 annually. Here are some of the prospective job profiles for graduates in Finance in Germany:

From the Desk of Yocket

German universities promise academic excellence for international students. It offers top-quality education at affordable costs. Pursuing an MS in Finance in Germany is a lucrative option for study-abroad aspirants. It also provides excellent investment banking, accounting, private equity, and financial analysis opportunities.

Yocket’s team of study abroad experts, with over 10,000 success stories, offer invaluable advice that makes your application stand out. We have helped students get up to USD 25 million in scholarships to study at top universities in various countries. Explore Yocket Premium today and embark on your journey to success!

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