Updated on May, 23 2024 06:55 IST
Study MBA in Finance in Germany
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MBA in Finance in Germany is a 2-year postgraduate program in management with a specialization in finance. The program prepares students to pursue job roles in the finance department. International students will learn all aspects of management in the finance department. MBA in finance is a study of collecting, organizing, planning, assessing, and managing finances in organizations. Students will understand various job roles in the finance department at the managerial level. Whether you are a fresher or experienced in the finance sector, the program will give you comprehensive coverage in finance management. Professionals will focus on and manage the financial resources of organizations. Germany has many financial organizations offering job and internship opportunities for students. The exposure can give real-time experience and understanding of industries. If you are wondering about taking admission to an MBA in finance in Germany, this guide will help you.
Here's a crux of all you need to know about MBA in Finance in Germany:
| Name of the Program | MBA in Finance |
| Intakes | 2 (Summer and Winter) |
| Duration of the Program | 1 - 2 years |
| Language of Instruction | English |
| Cost of the Program | 10,000 EUR - 30,000 EUR |
| Work Experience Required | Min. 1 year |
| GMAT/GRE Requirement | Varies with University |
| English Proficiency | TOEFL or IELTS |
| German Proficiency | Recommended |
| Cost of Living in Germany | 700 EUR - 1700 EUR |
| Interview Time | 30 - 60 minutes (if applicable) |
Germany gives you endless reasons to study in their country, these are some of the key factors that you can consider:
Highly demanding: MBA in Finance is one of the most in-demand MBA specializations across the globe. With global exposure and the best universities in Germany, you can pursue a finance specialization.
Lucrative job roles: One of the best reasons to pursue an MBA in finance in Germany is lucrative job roles. Germany has wide industries in the country, they offer job roles to international students.
Networking: Germany welcomes students across the globe being the 4th most attractive destination for studying abroad. This allows students to network with global faculty as well as fellow students.
Upgraded curriculum: German universities believe in regular upgrades as per industry needs. The universities change their curriculum as the industry demands to ensure students gain the required skills.
Employability: Pursuing your masters in MBA in finance will increase your employability. You will add more value to your resume and can have a competitive edge over candidates thus increasing your chances of landing a job.
Infrastructure: German universities are known for their world-class infrastructure and technology. Despite offering free study to international students they offer the best and upgraded facilities.
There are many business schools offering MBA with finance specialization. Many universities are even ranked among the top 100 universities in the world. Here are some universities you can apply for:
| Universities/ Business Schools | Rankings(Global) | Location/Cities |
|---|---|---|
| Mannheim Business School | 23 | Mannheim |
| WHU-Otto Beisheim Graduate School of Management | 102 | Vallendar and Düsseldorf |
| European Business School | 131 | Oestrich-Winkel |
| European School of Management & Technology (ESMT) | 46 | Berlin |
| Frankfurt School of Finance and Management | 42 | Frankfurt |
Note: Rankings by Qs 2021/2022/2023
Each institute in Germany has its own set of criteria that students must meet to be admitted to the MBA in Finance program. Our Anigdha counselors verify the universities' specific demands and assist candidates accordingly. Here are a few fundamental admittance criteria that nearly all German universities require for admission to an MBA program:
| Undergraduate Degree | To pursue an MBA, a candidate must have completed 3 to 4 years of an undergraduate degree or the German equivalent of an undergraduate degree. |
| Scholastic Performance | An applicant must have at least a 50% average in both high school and undergraduate courses. |
| Aptitude in English | Applicants must qualify for tests to show their English language spoken and written dexterity, such as IELTS with a scope of more than 6.5 bands or TOEFL with their score landing between 90 to 100. |
| Examinations Required | In addition to taking and qualifying for respective university exams, candidates also need to take international-level exams like the GRE with a score of 300+ or the GMAT with a total of 500-600 score to examine their merit for admission to an MBA programme in Finance. |
| Work Background | To be eligible for an MBA in Finance, most colleges need students to have at least one year of work experience. |
Collecting all the important documents is crucial to ensuring the prevention of any hindrances and nuisances at the last step. Make sure you have all the following documents at hand before applying for an MBA in Finance in Germany- your academic certificates like high school mark sheet, undergraduate degree, etc.; academic transcripts of exams like GRE, IELTS, etc.; character proofs like letters of recommendation, statements of purpose, et.; records of previous job experiences; other necessities like passport, VISA, recent passport-size photo, etc.
The Procedure for admission that the students have to follow to take the MBA program in Finance from the German universities are:
Join Anigdha and take our guidance on how to get admitted to the best university in Germany, providing the MBA in finance course.
Choose the appropriate university for you. We will provide you with the best opportunities in finance.
Complete the proper application process of the university, then also pay the required amount of application fees.
Submit the documents that are essential for your selection.
The international students must provide a proper Passport and Visa to the university.
The language proficiency test result is also an essential part of the selection.
MBA courses in Germany are admitted in two sets, due to which students have the prospect to apply multiple times for their chosen course in Germany. To prevent skipping any last date, review the essential periods for both admission periods:
September intake: Also known as the primary or summer intake, the summer intake begins in April and concludes in July or August. Students admitted in this first round of admission can begin classes the following academic year.
March intake: Also known as secondary or winter intake, begins in September or October and lasts until February or March. This type of admission allows students to start classes the next academic year.
Mostly, MBA finance courses in German universities last about two years. Most universities provide a full-time course, yet, a few may also propose part-time programmes. If you want to learn more about the type of course offered, it is best to visit each university's website.
Various factors have led to more and more German universities turning to English as their primary form of instruction, such as Germany’s multicultural environment due to a variety of students coming from different countries to study there, and the possibilities of greater job opportunities in a globalized world. Hence, more and more German universities are looking for candidates who are skilled in the English language for an MBA in Finance and are required to present documents to prove the same like your scorecards of language ability tests like IELTS or TOEFL. Additionally, even though these courses are more geared towards native students, some German institutions, though not frequently, may also offer courses in the language and need applicants to be proficient in it by passing German aptitude tests with a B1 level competence.
The following documents must be submitted by applicants to most German colleges as confirmation of their command of the English language:
| IELTS scores | 6.5 or above |
| TOEFL scores | between 90 and 100 |
| GMAT score | from 500 to 600 |
Tuition fees can be different in public and private universities. Some private schools charge high costs while some offer reasonable courses. These are some insights on tuition fees of universities you can apply to:
| Universities/ Business Schools | Course Duration | Tuition Fee ( Per year) |
|---|---|---|
| Mannheim Business School | 2 years | €42,500 |
| WHU-Otto Beisheim Graduate School of Management | 1-2 years | €39,951 |
| Frankfurt School of Finance and Management | 12 Months | €39,000 |
| European Business School | 2 Years | €6,950 |
| European School of Management & Technology (ESMT) | 1- 2 Years | € 49,000 |
Germany gives scholars many possibilities to pay for their scholastic expenditures by awarding varied sorts of scholarships, in addition to offering a reasonable education. Along with several government-funded fellowships, multiple institutes too, deliver financial aid. Here is a list of all the scholarships available to you in Germany:
HHL Leipzig Graduate School Of Management Scholarship: This is a scholarship provided by the university, is partially funded for women, and covers 25% of the entire MBA expenditure.
The Friedrich Ebert Stiftung: This is a scholarship provided by a Non-Governmental Organisation, is partially funded and covers 1000 EUR out of the total tuition fee.
DAAD: This is a scholarship provided by the government, is fully funded, and covers the entire MBA fees.
What are the key skills required to take admission to an MBA in finance?
To take admission to an MBA in finance, you must have skills like quantitative skills, pressure handling, communication skills, financial skills, business management, critical thinking, analytical skills, etc., that will help you succeed in your career.
What are the best firms to apply for after MBA in finance in Germany?
Germany has many financial institutions and companies offering job roles such as Deutsche Bank, HSBC, Goldman Sachs, Commerzbank, Allianz, and more. You can check out job options in these industries for finance management after your program is complete.
What are the prerequisites of taking admission to an MBA in finance?
To take admission to an MBA in finance, you must have a bachelors degree in finance or a bachelors in related disciplines such as accounting, business, economics, etc. In addition, these eligibility criteria can vary from university to university.
What are the key subjects that you will learn in MBA in finance?
During your MBA in finance, you will learn subjects like business economics, Cost and Management Accounting, financial accounting, taxation, business law, corporate finance, capital market, portfolio management, marketing for financial services, strategic management and more.
Is it mandatory to have knowledge of accounting for an MBA in finance?
Yes! Accounting is a critical part of an MBA in finance so having basic knowledge of accounting will be helpful and can give you a better idea about financing. In addition, you can understand accounting subjects and pursue careers in accounting.
Is an MBA in finance difficult?
Yes! MBA in finance is slightly more intensive and rigorous compared to other specializations. You will have to understand more technicalities to pursue MBA in finance.
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