collageMasters in finance in Germany is a 2 years postgraduate course offered by a number of state-sponsored universities and private universities. Germany is a hub of top universities for pursuing a master degree in finance. As per the QS world university rankings the German universities come in the list of top 100 global universities for finance.
- Course fee of Master of Finance in Germany ranges between 129 EUR to 5,000 EUR per semester.
- Students are required to have a bachelor’s degree in finance or relevant subjects e.g. economics to apply for masters in finance in German universities.
- Students can earn an average salary of 49,000 EUR per annum in Germany after completion of this degree.
Why Study Finance in Germany
Cost of studying is the first thing to strike the mind of a student while thinking of studying abroad. So here is the one liner explanation that Germany has a ‘No tuition fee’ policy and apparently it is the most important factor to study in Germany.
German universities have a variety of courses for masters in finance. Also, as compared to other European Union regions the cost of living in Germany is considerably low. The people of Germany have a sense of rectitude. The work culture in Germany is vast and speedy, which makes it people-friendly.
The tuition fee for the courses is almost free in German university but there are some administrative charges for each semester. The total estimated fee for pursuing master’s in finance from German university is about 200 Euros for a semester. The cost of living in Germany is about 800-900 euros per month that include house rent, food, transportation, entertainment, outside dining, etc.
As a popular destination for the best universities, Germany provides a profusion of advantages. Some most attractive are discussed below:
- As per the QS world ranking 6 out of 100 universities in the world are in Germany
- The jobs after masters in finance in Germany are highly paid. The average salary is 2500 Euros per month which is almost 5 times more than India for the same profile.
- Being the 4th largest economy, Germany has a developed market and thus it generates a number of jobs in the finance sector.
- The students who avail of the education loan enjoy a flexible repayment system. The government of Germany provides 5 years after completing the degree to repay the loan amount.
Top Universities for Master of Finance in Germany
Some of the top colleges for masters in finance in Germany are listed below:
| University | Ranking(as per QS World Rankings 2020) | Courses offered | Duration of course | Course Fee Per Semester (In Euros) |
|---|---|---|---|---|
| Technical University Munich, Munich | 55 | M.Sc in Mathematical finance and actuarial science | 2 years | 129 |
| Free University Of Berlin, Berlin | 130 | M.Sc in finance, Accounting and Taxation | 2 years | 130 |
| Goethe University Frankfurts | 291 | M.Sc in Money & Finance | 2 years | 140 |
| M.A in Finance | 2 years | |||
| University Of Kaiserslautern, Rhineland, Palatinate | 301-350 | M.Sc in Finance and insurance mathematics | 2 years | 160 |
| Johannes Gutenberg University Of Mainz | 410 | M.Sc in Accounting & Finance | 2 years | 5000 |
| University In Kiel | 478 | M.Sc in Quantitative Finance | 2 years | 150 |
| University Of Duisburg-essen, Duisburg | 601-650 | M.Sc Business Administration- Energy & Finance | 2 years | 4200 |
| Philipps University, Marburg | 651-700 | M.Sc in Quantitative Accounting & Finance | 2 years | 130 |
Master of Finance in Germany: Course Context
Master of Finance is basically the study of finance and financial markets. It includes the study of market economy, investments and the financial structure of the corporate sector. As finance is considered as the backbone of the corporate it deals with the study of all financial aspects e.g. fund management, banking operations, positive and negative growth rate, financial reforms, etc.
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Specifically, Master of Finance deals with the questions of how an individual, company or government acquires the money needed (capital) in the company context and how they then spend or invest that money. This course is all about the management of large amounts of money, especially by governments or large companies.
Admission Process for Master of Finance in Germany
The universities in Germany come in the top 100 universities in the world and so the eligibility criteria are of higher standard. There are various exams for international students that need to be cleared in order to be eligible for admission.
Where to Apply: Application for admission can be made directly to the college website. Also, there is a centralized admission portal for the international students which is operated by the German Academic Exchange Services (DAAD) known as uni-assist, but it is not applicable in all the universities.
Intake Season: The admission process occurs twice a year i.e. winter and summer semesters in July and October respectively.
Eligibility for Master of Finance in Germany Admission
- Bachelor’s degree in finance or related field
- GRE test score
- Proof of English proficiency
Proof of English Proficiency
If the course is taught in English then the students have to pass the English proficiency exam that is IELTS or TOEFL.
Minimum score requirement for some universities is provided below:
| Colleges | Minimum TOEFL Score Required | Minimum IELTS Score Required |
|---|---|---|
| Technical University Munich, Munich | 88 | 6.5 |
| Freie University Of Berlin, Berlin | 80 | 5.0 |
| ULM University, ULM | 95 | 7.0 |
| Paderborn University, Paderborn | 80 | 6.0 |
| University Of Philipps, Marburg | 85 | 6.0 |
| University Of Kaiserslautern, Rhineland | 79 | 6.0 |
| Goethe University Frankfurts | 85 | 6.0 |
| University In Kiel | 79 | 6.5 |
| Johannes Gutenberg University Of Mainz | 80 | 7.0 |
| University Of Duisburg-Essen, Duisburg | 100 | 6.5 |
Cost of Studying Master of Finance in Germany
The average cost of living for students in Germany is around 8000-9000 Euros a year. The cost of living in Germany is comparatively less among all the other European Union regions. Public transport is the best suitable option in Germany for the students.
Most of the international students opt for student residence as it is the cheapest option. Alternatively, there is a system of interim renting i.e. the students who temporarily move to another place generally rent the place for the period they are out for. The charges for interim renting is almost half as compared to the other.
In most of the public universities, the tickets for traveling in public transport is provided and it is inclusive in the administrative cost charged by the universities.
Pre-arrival Cost
Pre-arrival cost is tabulated below:
| Type of Expense | Cost (in EUR) |
|---|---|
| German Student Visa | 75 |
| IELTS Fee | 229 – 233 |
| TOEFL Fee | 228 |
| Airfare | 250 -600 |
Cost of Living in Germany
The table below shows an average expenditure on food and housing accommodation:
| Type of Expense | Monthly Cost (in EUR) |
|---|---|
| Student residence | 250-300 |
| House Rent | 300-500 |
| Food | 500-600 |
| Traveling | 300-350 |
Scholarships for Master of Finance in Germany
There are a number of grants and scholarships available for international students in Germany. Usually, the scholarship is given to the students as a monthly stipend and the amount of stipend ranges between 850-1200 Euros a month.
Some of the scholarships are provided below:
| Scholarship Program | Eligibility Criteria | Stipend Paid Per Month (In Euros) |
|---|---|---|
| DAAD | Graduation with above-average results(top 30%) | 800-1500 |
| Heinrich Boll | Both undergraduates and postgraduates can apply | 800-1200 |
| Development Related Postgraduate Courses | Graduation with minimum work experience of two years | 750 |
The international students are also allowed to work during the vacations for 90 full days or 180 half days in a year so that they can support themselves financially. The income from this work ranges between 60,000-70,000 per month.
Jobs Opportunities after Master of Finance in Germany
Master of Finance in Germany is a course of great importance. After completing the masters in finance in Germany, the average salary goes up to 49,000 EUR per year. This is almost 5 times more than the salary provided in India for the same work.
As Germany is the 4th largest economy in the world, so the market in Germany has a surfeit of opportunities to work and earn handsome money. After studying masters in finance one can get a job in Germany with a salary starting from 2300-3000 euros a month.
There are a lot of companies that visit the college and offer a job from the college campus only. For example, Audi, BMW, Allianz Worldwide. Deutsche Bank Group, Munich Re, Ascribe, Commerzbank, etc.
Some of the most common job roles are as follows:
| Job Roles | Job Description | Average Annual Salary (In EUR) |
|---|---|---|
| Financial Analyst | Collecting and analyzing financial data, studying market trends. | 48,000 |
| Investment Banker | Providing assistance to clients for mergers and acquisitions, helping them to raise capital | 67,000 |
| Financial Examiner | Ensuring the working of financial institutions with respect to laws and regulations | 60,000 |
| Financial Advisor | Advising clients on issues of investments, taxes, insurance, etc. | 41,000 |
| Finance Manager | Monitoring accounts and reviewing the financial reports | 63,000 |
| Actuary | Assessing the probability of financial issues and repercussions | 67,000 |
| Accountant | Compilation and analysis of account information that is required to prepare various reports | 39,000 |
| Trader | Execution of trades in stocks, debentures or commodity | 56,000 |
| Insurance Specialist | Decoding the complex insurance laws and policies, advising clients on issues about insurance | 28,000 |
Masters in finance is a premium course for students who seek fast career growth in the financial sector. It is a sector that is needed for all kinds of corporate as well as non-corporate fields. There are as many as 20,000 Indian students studying in Germany out of which about 30% are studying finance.
After completing the degree it will be quite easy to get a job and to earn ample money. The German chancellor Angela Merkel said that as many as 20,000 Indian nationals are studying in Germany and the country would like to see more. Also, the government of both countries is working to establish a parallelism between the degree of Indian and German universities.
Germany is one of the leading countries in the global economy. It is also a nation that has many top universities to choose from for your degree in Finance. Having a degree from one of these top public German universities will certainly help you get a job anywhere in the world.
University of Freiburg, Freiburg
- University of Freiburg is a public research university located in Freiburg im Breisgau, Baden-Württemberg, Germany. It was founded in 1457 and has an enrollment of 23,000 students.
- The University of Freiburg was founded by Konrad III von Hochstaden (1398-1458), Bishop of Basle, who established it as a Studium Generale on 1 May 1457.
University of Mannheim
The University of Mannheim is one of the public universities in Germany that offers a Masters degree in Finance. The course is designed to equip graduates with the skills and knowledge needed to work as financial managers or analysts, including actuarial science, banking and investment.
The masters program requires students to complete four semesters (two years), which are usually spread over three terms each year: fall (September to December), winter (January to April) and spring (May to June).
TU München, Munich
- School type: Public
- Students: 42,000
- Location: Munich
- Language of instruction: German (with some English)
Tuition is €1,000 per semester and you can apply for a scholarship. The Masters in Finance program at TUM focuses on quantitative methods such as financial mathematics and risk management. It consists of eight semesters, which are divided into four terms. The first term consists of compulsory courses like corporate finance and financial risk management, while the second term gives students more freedom to choose elective courses from a variety of topics such as international business or entrepreneurship. The third term includes an internship at an international company or bank and the final fourth term includes classes about entrepreneurship for graduates who want to start their own companies instead of working for someone else after graduation.
Ludwig-Maximilians-Universität München, Munich
Ludwig-Maximilians-Universität München, Munich
Ludwig-Maximilians-Universität München is a public research university in Munich, Bavaria, Germany. It was founded in 1472 and is counted among the leading universities of Europe today. The university has about 40,000 students for bachelor’s degrees, master’s degrees and doctoral degrees. The University library contains more than 18 million items. The LMU consists of 19 faculties: 11 natural sciences faculties (biology & chemistry), 6 social science faculties (economics & business administration) and 2 humanities faculties (history & philology). Every year more than 7500 PhD students are graduated from LMU while more than 450 professors work at the faculty level at LMU as well as 1000 postdocs or scientific employees who have their own research activities within their disciplines at LMU’s various institutes under supervision by professors
Friedrich Schiller University of Jena, Jena
Friedrich Schiller University of Jena, Jena
Founded in 1558, Jena was the first university in the world to be established within the framework of a civic university. In addition to its academic offerings, the city’s cultural life is shaped by a number of museums, festivals and other events. The oldest and most famous festival is celebrated each year at Pentecost, namely “Jenaer Mai”. This festival has been held since 1815 and attracts tens of thousands of visitors every year from all over Germany and beyond.
Frankfurt School of Finance and Management, Frankfurt am Main
Frankfurt School of Finance and Management is a private university located in Frankfurt am Main, Germany. The university offers degrees in finance, accounting and management. It also has research departments with a focus on risk management, financial markets, banking and insurance. In addition, the school offers postgraduate programs for working professionals who wish to further their education.
Frankfurt School was founded in 1971 as the Institut für Bankwissenschaft und Bankpraxis by Professor Dr. Claus Peter Wulfhorst (1927–2004). The name of the institution changed several times before it adopted its current name in 1994.
Today Frankfurt School has over 10,000 students from 120 different countries worldwide—making it one of Germany’s largest private universities!
Humboldt-Universität zu Berlin, Berlin
Located in Berlin, Humboldt-Universität zu Berlin is a public university offering masters in finance degrees. It is one of the oldest universities in Germany and has been around since 1809. The university offers more than 60 undergraduate programs, including economics and business studies, law sciences, engineering sciences and media studies among many others.
The Masters of Finance program at this institution is taught entirely in English by lecturers with years of experience in the industry. They have also previously worked for some big banks such as JP Morgan Chase & Co., BNP Paribas and Deutsche Bank AG amongst others. Students can expect to complete their degree within 2 years after completing their bachelor’s degree from any recognized university with a GPA above 3 out of 4 points on an average scale system (4 being excellent). This program aims at providing students with knowledge on financial analysis; valuation techniques; investment strategies; risk management etc., while also preparing them for careers as investment bankers or financial analysts in private equity firms or hedge funds
Top Public Universities in Germany for Masters in Finance
Top Public Universities in Germany for Masters in Finance
- University of Stuttgart, Germany
- University of Duisburg-Essen, Germany
- University of Mannheim, Germany
Conclusion
The list of the top public universities in Germany for a master’s degree in finance is a great place to start if you are looking to study in Germany. It’s important that you choose a university that meets your needs and provides support services like on-campus housing or financial aid. If you’re looking for more information about studying abroad, we’ve got some great blog posts on how students can prepare themselves before they leave their home countries – check them out!
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