Updated on May, 23 2024 06:55 IST
MS in Financial Engineering in Germany
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MS in Financial Engineering in Germany combines financial theory, engineering methodologies, management tools, and mathematical and computational approaches in its course work. It also involves in-depth knowledge and skill in current financial mathematics and actuarial science, as well as the ability to apply these statistically and numerically. These skills are essential when looking for job opportunities in the statistical and financial sectors. As a student of MS in financial engineering one would be learning about the the field of finance, trade, banking, investment and insurance. Finance is something that is a major part of everyone’s life. It not only governs our life but regulates and affects it in innumerable ways. No matter what our personal outlook on life may be one simply cannot escape the financial aspect of it all. Therefore anyone looking to pursue MS in financial engineering should possess a multidisciplinary approach when going into this course. Moreover since this course involves usage of mathematical tools and computational methodologies, one also needs to be equipped with sound analytical and critical thinking skills along with problem solving and crisis management capabilities. Germany is home to some of the top-ranked universities in the world. Financial engineering in Germany is one of the most favorable courses among international students. Therefore, if you wish to get admission to MS in Financial Engineering in the country, here are a few things you must know.
| Program | MS in Financial Engineering |
| Course duration | 2 years |
| Language of Instruction | English |
| Tuition Fees | Free in Public Universities |
| Living cost in Germany | 700-1000 EUR per month |
| Sessions | Summer and Winter |
Education in Germany is quite popular for many reasons, including the amazing financial benefits the Government provides. The country is home to some of the top-ranked universities in the world, focusing on quality education. German universities are proficient in their subjects and ensure that they prepare their students well for future job opportunities.
If you are looking for reasons to study engineering in Germany, we will enlist a few –
Affordable Fee Structure: You can avail of free study in Germany in Financial Engineering in public universities. Furthermore, as of October 2014, the German government abolished tuition fees in Germany, and students now need to pay just administrative charges. So, when it comes to tuition fees, studying in Germany is advantageous, especially for overseas students.
Scholarship Programs: Numerous German universities provide scholarships to international students. The scholarship funds either cover the tuition fees or pay a portion of the monthly expenses, such as housing, study materials, etc., to aid the student in bearing their expenses.
Language: PG in Germany for many courses are provided in English for International students. Hence, language will not be a major issue for students studying in Germany. However, it is better if they are proficient in English and German.
Low cost of Living: International students who want to study in Germany need not worry about finances. Universities allow students to work 120 full days or 240 half days to supplement their income. Germany has a low cost of living compared to other European countries, with average monthly spending of 600 to 1000 EUR.
Amazing Job Opportunities: Germany is home to one of the highest engineering workforces in the world. Therefore, it provides ample jobs to its students. The manufacturing industry drives its economy; hence, it is easy to find jobs when it comes to the engineering sector in Germany.
World Class Universities: Germany has some of the leading universities in the world, providing quality education and infrastructure to their students. You can get admission in Financial Engineering, among other courses in Germany, and gain knowledge from an experienced faculty and trained staff.
These are the criteria to get eligible for taking admission to German universities:
Students must have completed their 10+2 in the science stream.
You should have completed your graduation with a minimum of 3–4 years of duration.
The minimum eligibility criteria is 70% to get admission to a popular university. You must have scored 80%.
The languages of instruction are English and German in the majority of universities.
You have to obtain a recognised English or German proficiency certification.
Students need to score 6.5-7 bands in the IELTS or a 90-100 score in the TOEFL.
You must have a C1 level to pursue your MS in German.
A letter of recommendation is not necessary to submit.
Students should have a GRE minimum score of 318.
A statement of purpose is mandatory to be eligible to pursue a MS in financial engineering.
You must have good communication skills in English. Both public and private universities offer MS degrees in financial engineering in English and German.
There are different criteria for choosing the English and German languages.
Students need to obtain an English or German proficiency certificate before choosing English or German as their language of instruction.
Students have to score 6.5-7 bands in IELTS and 90–100 in TOEFL certification.
C1-level certification is a requirement for the German language.
The duration varies at all universities. Students need to apply to their desired university before the deadline. There are two intakes in which students apply for MS programs. These intakes are in the summer and winter. A massive number of international students apply for the medical engineering program in the winter intake.
July–August is the timeline for winter intake.
January is the start of the summer intake.
Students are advised to keep an eye on the intakes to secure admission to the MS program.
These are the essential documents to secure your admission to the financial engineering program:
Certificate of class 10+2 and school leaving certificate
Certificate of German language proficiency
Certificate of English language proficiency like IELTS or TOEFL
SOP, or Statement of Purpose
LOR, or Letter of recommendation
Bachelor's degree copy
Enrolment certificate
Income Proof
Record of financial status
Student Visa
ID proof
Passport of the student
Application copy
Medical certificate
The fee structure for pursuing financial engineering at a German university differs from one university to another. The majority of public universities provide MS programs at no cost or minimal cost. On the other hand, the same course has fees of 1000–10.000 EUR at a private university.
The list of fees for popular universities is as follows:
| Popular University | Rank | City | Fees |
|---|---|---|---|
| Karlsruhe Institute of Technology | #119 | Karlsruhe | 15000 EUR |
| Technische Universität Kaiserslautern | #1401 | Kaiserslautern | 720 EUR |
| HTW Berlin, University of Applied Science | #82 | Berlin | 5000 EUR |
| HHL, Leipzig Graduate School of Management | #62 | Leipzig | 29,900 - 40,000 EUR |
| IU International University of Applied Science | #72 | Erfurt, Germany | 11000-15000 EUR |
German education is affordable, and government funding is available to help students financially. This makes Germany a favorite study destination for overseas students. However, even though Germany is an affordable country, some students might need scholarships or funds to continue their education. You can check for eligibility for scholarships in Masters in Financial engineering in Germany through the university. The eligibility for Financial engineering scholarships in Germany depends on the financial condition of the student, apart from merit. Students can avail of full scholarships that cover their entire tuition fees or partial scholarships that provide for a certain part of their tuition fee. Moreover, based on merit and good grades, multiple universities provide scholarships to students.
Here is a list of the most common scholarship programs that you get in Germany–
Hani Zeini Scholarship
QS Undergraduate Scholarship
Jared J. Davis Grant
Golden Key Graduate Scholar Award
DAAD Scholarships
Germany harbors some of the best universities in the world. For a PG in Financial Engineering, Germany is home to some of the most prestigious colleges that have gained a reputation over the years. When it comes to getting admission to MS in financial engineering, several reputed colleges offer comprehensive courses.
Here is a list of some of the best universities that provide amazing education when it comes to Financial Engineering –
Karlsruhe Institute of Technology
Technische Universität Kaiserslautern
HTW Berlin – University of Applied Science
HHL- Leipzig Graduate School of Management
IU International University of Applied Sciences
Anigdha fulfils the dream of students to pursue higher studies abroad. Here are the admission procedures for the MS program:
Consult: Students need to consult before taking admission to foreign countries. Anigdha experts guide students about the procedure, fees, application, etc.
Doubts: Students can resolve their doubts related to visas, studying patterns, schedules, and so on.
University preference: If you haven't selected any university yet, there's no need to worry. Anigdha members will assist you in shortlisting the university to secure your admission to a top university that would be suitable for pursuing a MS in financial engineering.
Fees: Students need to submit the essential application fees.
Visa application and passport: Once your application gets confirmation from German universities, our experts will assist you in applying for a visa and passport.
Additional services: We also offer some additional services, like preparing students for interviews and the IELTS or TOEFL exam.
Financial planning: The Anigdha team provides you with information about scholarships, the cost of living in Germany, accommodation, and food facilities.
Is German proficiency required in Germany?
Though universities teach in English for postgraduate courses, it is advantageous to know and be fluent in German. This opens up a lot of job opportunities for students.
Can students work in Germany while studying?
Students from other countries can apply for part-time jobs or internships in case they want to work in Germany. Universities allow 120 full days or 240 half days to work, while you are pursuing a course in Financial Engineering in Germany.
What part-time jobs pay the most in Germany?
Some of the highest paying part-time jobs in Germany are-
Research Scholars
Research assistants/academic assistants.
Support staff.
English tutor.
Industrial production assistants.
Which city in Germany has the most career scope?
Berlin is home to large, recognized worldwide corporations and industries and is among the world's largest employers. Because Berlin offers an infinite variety of job options and professional paths, multiple industries are opening up in the city offering jobs to foreigners.
Is Germany an affordable country to study in for international students?
Students can study free in Financial Engineering in Germany’s Public Universities. Students' monthly living expenses, including housing, food, and others, average between 700 and 1000 EUR.
Are financial engineers in high demand in Germany?
Yes, there is a rising demand for eminent financial engineers in Germany these days.
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