Updated on May, 23 2024 06:55 IST
Study MBA in Risk Management in Germany
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MBA in Risk Management in Germany is an advanced degree designed to train students for a successful career in the risk management industry. The curriculum focuses on both the theoretical and practical aspects of managing risk, from financial analysis and investments to portfolio management and enterprise risk management. In addition to learning about core topics such as economics, finance, accounting, marketing, and organizational management, students pursuing an MBA in risk management in Germany will gain specialized skills that will help them succeed as risk managers. The MBA in risk management program typically takes one to two years to complete and involves project work, theory classes, seminars, and workshops. Those who graduate from it will be well-positioned to pursue careers in government, finance, or business sectors. So if you are interested in getting admission to MBA in risk management in Germany and wish to know how you can get free study in Germany, read on!
Here's a crux of all you need to know about MBA in Risk Management in Germany:
| Name of the Program | MBA in Risk Management |
| 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) |
If you're looking for an MBA program that offers both a high level of education and the opportunity to gain experience in one of the most advanced countries in the world, then studying MBA in risk management in Germany is a great choice.
Here are 6 reasons why:
Quality Education: Germany has a long-standing history of providing quality higher education opportunities to international students, making it an ideal study-abroad destination.
Comprehensive Curriculum: An MBA in risk management in Germany will provide students with comprehensive instruction on risk management topics that will prepare them for operating in real-world scenarios and succeeding at their jobs.
Excellent Resources: German universities have modern computer labs, libraries, and other resources that ensure students stay up to date with the latest trends in the industry, providing them with the tools necessary to get the best education possible.
Cost Effective: The cost of living and tuition fees in Germany are lower when compared to other European countries, making it a more affordable study destination for those wishing to pursue an MBA in risk management. You can even study free in Germany.
Career Prospects: An MBA in risk management is highly sought after by employers due to the specialized knowledge gained through studying the program, providing graduates with numerous opportunities for career advancement and growth.
Experienced Faculty: German universities employ experienced faculty members who have definitive experience working within the risk management field so they can provide valuable insights on how to apply theory into practice.
Germany is home to some of the best universities for pursuing MBA in risk management in the world, and each one has its own strengths and weaknesses. Some of the best include:
| Universities/ Business Schools | Rankings(Germany) | Location/Cities |
|---|---|---|
| Dresden International University (DIU) | #152 | Dresden |
| HSBA Hamburg School of Business Administration | #286 | Hamburg |
| Technische Hochschule Ingolstadt | #153 | Ingolstadt |
We suggest checking your eligibility for MBA in risk management in Germany before applying to any of these universities.
When thinking of applying to German universities for an MBA course in risk management, you should keep track of the following pointers to help you understand your prospects better and apply to universities according to the type of criteria you fulfil.
Applicants must have completed 3 to 4 years of an undergraduate course or an undergraduate course similar to their German counterparts to pursue an MBA course.
Less than 50 percent sum during any time in the applicant’s academic life will result in non-approval of the candidate, be it high school, undergraduate, or a masters course.
Most universities need their applicants to submit proof of language ability tests in English like IELTS or TOEFL, while a few may ask for German ability tests like TestDAF.
Apart from the aforementioned assessments, other merit exams like the GRE (gaining more than 300 marks) and GMAT (gaining a score of around 500 to 600 marks) also need to be submitted to be eligible for admission to an MBA in Risk Management in Germany.
For an MBA course, most German degrees will look for candidates who can live up to the demands of an MBA by furnishing evidence of at least a rudimentary understanding of the job market through past job background.
Do not forget to collect the following paperwork, without which your admission will not be possible:
Certificates showing marks of tests taken like GRE, GMAT, IELTS, TOEFL, etc.
Academic transcripts and certificates of high school (10+2) level. Undergraduate course or earlier postgraduate degree in any field.
Certificates to prove your good demeanor like statements of purpose, letters of recommendation from your previous teachers, character certificates from your alma mater, etc.
Essentials like recent passport size photo, VISA, passport, etc.
Certificates and letters of recommendation from last apprenticeships done or positions managed.
The students must follow a particular admission procedure for studying for an MBA in Risk Management from a German university. The students should follow this process to get admitted to the top universities. The details are:
Contact Us: You should contact us at Anigdha, we have the best team to guide you through the admission procedure and help you get admitted to the top universities of Germany.
Select the university: After deciding to study your MBA course in Germany, you should select the university perfect for you. The choice of University might be difficult so we would assist you in this process and help you choose the perfect university.
Apply: After selecting the perfect university, you must complete the application process and pay the required fees. We would also assist you with the documents that you must submit to the university for your selection.
Passport and Visa: International students must have a proper Passport and Visa that is compulsory for them to study at a foreign university. We will help you solve all problems regarding your visa and Passport.
Language Proficiency: Students must take the language proficiency test for any language they want to take their course in. IELTS or TOEFL is compulsory for English language courses in Germany.
If you're applying for an MBA designation in Germany, two opportunities for admission are available for you. Regardless of the kind of university you are applying to(public or private), you can choose to apply in any of the following two forms of admittance:
Summer Intake: The summer intake starts around April and ends around July or August. This first round of admission is also called the September intake and allows students admitted in this round of intake to begin their classes in the same academic year.
Winter Intake: The winter intake begins around September or October and ends between February to March. This second round, also called the March intake, allows students to begin their classes in the next academic year.
Among the two, the winter intake is more famous among applicants. However, all universities give equal preference to all the students admitted in any round. Also, different universities may not comply with both kinds of intakes for different courses. Hence, it is advisable to check each university’s website individually.
MBA courses in Germany are for not more than 2 years, be it in any discipline. Part-time as well as full-time MBA degrees are available at a variety of German universities. In both kinds of courses, you will have to spend around two years in the country to pursue the course and attain the designation of an MBA graduate.
As the world is coming closer than ever before, universities in Germany are coming up with new ways to accommodate and cater to the needs of students who come from different parts of the world and represent a multinational background to study in Germany. German universities mandate applicants to be efficient in English and prove the same through tests like IELTS and TOEFL. However, some German universities may still stick to teaching in German, even though these courses are more likely to be centered around German-national students. Hence, to increase your chances of application, it is advisable to take up German speaking and writing ability tests like TestDAF or DSH.
To show command over the English language, you should be able to submit the grade transcripts of the following at the time of admission:
A score bar more than 6.5 in IELTS
Marks in a breadth of 90-100 in TOEFL
Any score between 500 to 600 on the GMAT
German MBAs are highly respected and sought-after by employers around the world. But there is no standard tuition fee across all universities offering these programs. And this is justified, given the variety of resources, facilities, etc., that vary from one university to another.
Here's a look at the tuition fees of the top universities in Germany:
| Universities/ Business Schools | Course Duration | Program name | Tuition Fee |
|---|---|---|---|
| Dresden International University (DIU) | 4 semesters | MBA in Risk Management | 13,000 EUR - 17,000 EUR total |
| HSBA Hamburg School of Business Administration | 2 to 4 semesters | MBA in Risk Management | 1,000 EUR - 1,500 EUR per semester |
| Technische Hochschule Ingolstadt | 4 semesters | MBA in Strategy, Global Risk & Security Management | 6,000 EUR - 7,000 EUR per semester |
Germany allows its students to not worry about their tuition fees through the availability of both institute and government sources of fellowships to cater to different sections of society. Here is a table representing the different kinds of grants you can enjoy while pursuing an MA in Risk Management in Germany:
Government-Provided Scholarship
DAAD Scholarship
Fully funded
Total MBA academic costs
NGO-Provided Scholarship
Heinrich Boll Scholarships for International Students
Partially funded based on merit
1000 EUR - 5000 EUR
University-Provided Scholarship
Mannheim School of Business Scholarships
Partially funded based on merit
5000 EUR
Name the five essential techniques of risk management?
The five essential techniques of risk management include - avoidance, spreading, retention, transfer, and loss prevention and reduction.
What is the importance of risk management in various sectors?
Risk management is an important tool that helps businesses and organizations identify potential risks, assess the likelihood of those risks occurring, and develop strategies to mitigate or avoid them.
What are the necessary skills to be a successful risk manager?
To be successful, risk managers need to have strong analytical and problem-solving skills.
Is SWOT a good tool for risk management?
The SWOT (Strengths, Weaknesses, Opportunities, and Threats) framework can be a helpful tool for identifying and assessing risks.
Will the demand for risk management professionals increase in the future?
The demand for risk management professionals is expected to increase in the future as organizations become more complex and the need to manage risks becomes more critical.
What is the best way to control risk in an organization?
The first step in controlling risk is to identify the risks that are present. This can be done through a variety of means and tools with the help of eminent risk management professionals.
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