Germany is home to more than 80 million people and a wide range of religions, customs, and traditions that contribute to the country's unique culture. Germany is famed for its long and illustrious past, placing it at the forefront of European ideas, politics, and art for over a thousand years.
Denmark, Poland, France, Luxembourg, Belgium, the Netherlands, the Baltic Sea, and the North Sea are all located within its borders. Furthermore, while studying in Germany, you can take advantage of the excellent transportation links between Germany and other European nations, which allow students to travel to and explore other popular cities in Europe, enriching their study abroad experience.
Overview Of MBA In Finance In Germany
For international students, Germany is one of the most popular locations. Quality education and several bachelor's and master's programmes taught in English are available at German universities. The majority of study programmes are likewise free for all international students.
Following an MBA, there are a variety of job prospects in Germany. MBA in finance colleges in Germany allows better exposure and prepares students for corporate world challenges. Germany is one of the most sought-after locations for MBA study globally, with state-of-the-art infrastructure, world-class facilities, and no tuition costs. Most government-funded colleges in Germany do not charge tuition to students pursuing a Master of Business Administration (MBA). After completing an MBA in finance, you will get a promising job in Germany to help you pay your bills.
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Top Universities In Germany For MBA In Finance
MBA in finance colleges in Germany offers a variety of MBA programs, including Executive, Online, and International MBAs. According to the QS Global Ranking 2022, six German business schools are among the top 73 full-time MBA programmes in Europe. The following are the best MBA finance colleges in Germany:
- Mannheim Business School
- Frankfurt School of Finance and Management
- WHU (Otto Beisheim)
- ESMT Berlin
- HHL Leipzig Graduate School of Management
|
University |
Fee in EUR Annually |
Fee in INR Annually |
|
Mannheim Business School |
40,500 EUR |
Rs 33,32,707 |
|
Frankfurt School of Finance and Management |
38,943 EUR |
Rs 32,04,583 |
|
WHU-Otto Beisheim Graduate School of Management |
39,951 EUR |
Rs 32,87,530 |
|
European School of Management & Technology (ESMT) |
24,098 EUR |
Rs 19,83,002 |
|
European Business School |
24,214 EUR |
Rs 19,92,547 |
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Requirements to Study MBA in Finance in Germany
The admission process for MBA in finance in Germany varies from university to university. However, the documents required and the online application process remain similar. You need to apply for admission from the official website of the university. The following documents are required of a student who wants to take an MBA in finance in Germany:
- Recognized bachelor’s degree
- Undergraduate Transcripts
- German or English Language Proficiency Score
- SOP/LOR
- References
- Work experience
- Financial Documents
Eligibility Criteria For MBA In Finance In Germany
There are two types of universities in Germany: public and private. In Germany, each university has its own set of MBA eligibility requirements. In Germany, an MBA can be obtained without prior work experience, unlike in many other nations where prior work experience is required.
Since German colleges are not controlled by a central organisation, MBA requirements in Germany are fairly diverse. The generalised eligibility criteria are mentioned below:
- A bachelor's degree in relevant areas is equivalent to a German bachelor's degree; it could be a 4-year degree or a 3-year degree with a 1-year master's degree.
- Valid GMAT/GRE/IELTS/TOEFL score. Each university accepts various exam scores. It is feasible to apply for an MBA in Germany without taking the GMAT because most German colleges just demand a valid TOEFL score.
- Basic German language skills are required. Although most colleges in Germany offer MBA programmes in English, it is preferable to have language skills.
- Work Experience
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There are no guidelines for determining if an applicant qualifies for an MBA in finance in Germany because different universities and programmes have varying requirements.
Another popular and versatile degree for seasoned professionals is the Executive MBA in finance, which is available in Germany. This MBA is mostly funded by employers and requires at least two years of prior work experience.
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Cost Of Living And Studying MBA In Finance
Germany is one of Europe's most cost-effective nations. Your monthly expenses as an Indian student studying in Germany will be roughly 902 EUR/ Rs 74,230 annually. With this monthly spend, your yearly cost of living in Germany as an international student will be around 10826 EUR/ Rs 8, 90,760.
Some of the cost students will incur are-
|
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 |
If you are pursuing an MBA in Germany, the expenses will vary depending on the institute you attend. Presently, the fee is around 30K EUR/ Rs 2469174. Each university has its own set of fees. Students at public universities who do not charge tuition only have to pay a semester fee of roughly 500 EUR/ Rs 41152 per semester.
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Free MBA In Finance In Germany For Indian StudentsFor Indian students pursuing MBA in finance from Germany will cost free, but limited to only public universities in Germany. This means that international students can get a free MBA in Germany! Students only have to cover the costs of food and lodging. However, tuition fees for non-EU students were reinstated at public universities in a few German states in 2017. |
Scholarships For MBA In Finance In Germany
Scholarships help international students who want to pursue an MBA in finance at a German university because they can cover all or part of their tuition costs. The following are some of the top MBA scholarships in Germany for Indian and international students:
|
Scholarship |
Eligibility |
Amount |
|
Semester Scholarships for Students of Indian Institutes of Management (IIM)
|
Students of IIM Ahmedabad, Bangalore, Indore, Kolkata, Kozhikode, Lucknow, or Udaipur in the second year of their postgraduate study
|
750 EUR/ Rs 61,729 Health, accident and liability insurance cover
|
|
Master’s Scholarships for Public Policy and Good Governance (PPGG)
|
Graduates with a strong academic record who want to pursue a master's degree in a field that is particularly relevant to their native country's social, political, and economic growth. |
750 EUR/ Rs 61,729 monthly
|
|
Central Sector Scheme of National Overseas Scholarship
|
Indian students with good academic records |
35956 EUR/ Rs 2959388/-
|
|
Friedrich Ebert Foundation: Scholarship for International Students
|
Students who have been accepted to a German Higher Education Institute and have an outstanding academic record are eligible to apply for the award. |
Amount- 670 EUR/ Rs 55144/-
|
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Job Opportunities After MBA in Finance in Germany
Germany is a hotspot for MBA specialists, thanks to its state-of-the-art infrastructure and expanding need for Business Management professionals. MBA finance salary in Germany is quite promising. Students can take up part-time jobs while studying. Working part-time as a student in Germany can get you a minimum wage of 9.19 EUR/Rs 781.35 per hour. This income varies depending on the city you live in and the type of job you have. Some of the recruiters and Payscale are mentioned below-
|
Job Position |
Company |
Annual Package |
|
Consultant |
Siemens |
79,000 EUR/ Rs 65021603 yearly |
|
Finance Manager |
BMW |
127,000 EUR/ Rs 10452840 yearly |
|
Project Manager |
Deutsche Bank |
83,000 EUR/ Rs 6831383 yearly |
|
MIS Executive |
Porsche |
85,000 EUR/ Rs 6995995 yearly |
Suggested: Jobs and Salary after MBA in Germany
German MBA in Finance colleges are research-based universities that seek to equip you with the information and skills necessary for success in the job market. Pursuing MBA in finance from Germany will give a promising career opportunity in the financial market and job security. Connect with Yocket Professionals to smooth your process of applying to B schools in Germany.
Frequently Asked Questions About MBA in Finance in Germany
Ques. Is an MBA in finance in Germany costly?
Ans. No, an MBA in Germany is very reasonable, even by Indian standards, and given the high level of education offered there, it is a very popular choice among students.
Ques. What is the best time to apply for an MBA in Germany?
Ans. The deadlines for MBA programmes vary by school. For an October start, the optimal time to apply is between November and January.
Ques. Does an MBA in Finance in Germany require work experience?
Ans. Yes, most of the top MBA colleges in Germany require you to have 1-year work experience.
Ques. Is an MBA in Germany Good?
Ans. Yes, for Indian students, an MBA in Germany is a fantastic option. For an Indian student, the overall cost of education is reasonable when compared to other study abroad possibilities.
Ques. Is seeking admission in Germany tough?
Ans. No, the application process is simple. All you have to do is contact the university's foreign office, and they will assist you with the relevant procedures