collageMasters Of Management in Germany: Top Universities, Fees, Eligibility, Scholarship, Scope
Masters in Management in Germany is a 1.5 to two-year long program offered to students with previous experience in the field. To get into MiM courses in Germany, GMAT scores are not mandatory but are strongly recommended. Additionally, some universities ask for prior work experience of at least 3 months. International applicants are required to have language proficiency (usually English language proficiency). However, Mannheim Business School asks applicants for German language proficiency as some part of the course is conducted in the German language.
Some of the best management institutions of Germany include the Frankfurt School of Finance and Management, Leipzig Graduate School of Management, and many more. For educating international students with higher education, German public institutions do not charge any tuition fees. However, some universities may require you to submit a semester fee ranging between 300-3500 USD. Pursuing a master’s in management (MIM) in some of the top institutions in Germany will cost you around 144-18,000 USD/year. This for an Indian student will range between 11,000 USD to 13.4 lakh INR a year. The cost of living in Germany can go up to 63,000 INR per year.
Top Universities for Masters in Management in Germany
Masters of management in Germany is offered at a handful of universities. According to QS News Ranking of 2022 for Master in Management, following are the top universities offering Masters in Management in Germany:
| University | Program Duration | Annual Tuition Fees (USD) |
|---|---|---|
| Whu-Otto Beisheim School Of Management | 21 months | 17,538 |
| Frankfurt School Of Finance And Management | 2-years | 18,040 |
| Technical University, Munich | 2-years | 144 |
| Mannheim Business School | 2-years | 3,330 |
| HHL Leipzig Graduate School of Management | 21-24 months (self-paced) | 15,890 |
| ESMT Berlin | 2-years | 16,050 |
Apart from the above-mentioned degrees, you can also find a variety of dual-degree programs offering a postgraduate in management in Germany. Institutes like PFH Private University of Applied Science offer such dual degree programs in collaboration with Iona College, Kedge Business School, etc. A variety of specializations are offered in management degrees such as engineering management, digital marketing management, and project management, etc. Other Management related degrees that you can apply for as MBA in Germany, international business in Germany, and others.
Why Study Masters in Management in Germany
Educating more than 350,000 international students, Germany is giving a cut-throat competition to countries like the USA, UK and Canada. Approximately, 14.90% of students enroll themselves for a post-graduation management course. Here is a list of legitimate factors that’ll help you decide whether to study in Germany or not.
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- Cost-free Education: Approximately 35% of international students choose Germany over other countries because of this feature. Although the students still have to bear a minimum administration cost per semester and their cost of living which is quite affordable.
- World-class Education: 132,726 students were found enrolling for postgraduate courses in German universities because of its world-class education system and well-developed research and development facilities in public and private universities.
- Bridging the language gap: The country has taken care of this issue by introducing varied English-language programs in their universities. You just need to learn the language on a basic level to not feel estranged in a far-off country.
- Work while studying – Though Germany offers a cost free-education, a student still has to bear the cost of living, which can be a pocket pinch. For this, work permits in Germany are issued for international students so that they can take up a part-time job while they study. The working hours are limited up to 120 full days or 240 half days. Anything more than that requires authorization from the employment agencies. A student can earn up to roughly 508.59 USD (5.65 USD to 16.96 USD in a day) per month.
- Top institutions of the world: Some of the top management schools in Germany are namely Frankfurt School of Finance and Management, Leipzig Graduate School of Management, WHU Otto Beisheim School of Management, Universitat Mannheim Business School, Berlin School of Economics.
- Master of Management is a premium postgraduate course and doing it from the institutions known around the world will make you reach the epitome of your career.
- Highest paying degrees: A student completing Master in Management in Germany can earn up to 118,000 USD per year.
Masters in Management in Germany: Highlights
| Duration | 2 years |
| No. of Universities | 6 |
| Tuition Fees | 300-3500 USD/per semester |
| Eligibility | Bachelors degree in relevant field; GMAT score above 600 |
| English Proficiency Requirement | IELTS: 6.5; TOEFL iBT: 90 |
| Salary Offered | 77,000-137,000 Euro per annum |
Master in Management in Germany: Admission
For getting admission with any of the German institutions offering masters of management applicants must fulfill certain specific eligibility criteria, submit related documents, and attend interviews (if required). Discussed below are the details for applying with German universities:
Some of the general requirements that you must fulfill include:
- A bachelor’s degree preferably in management related discipline and relevant work experience is required to apply for Master of Management in Germany.
- Passport, valid till the last day of your stay in Germany.
- A photocopy of the passport
- Transcripts of higher education
- Scores of tests required to study in Germany, such as English and German language proficiency.
- Personal essays
- Proof of work experience
| Professional LOR | SOP for Germany | LOR for Germany | LOR for Management |
Eligibility for Master in Management in Germany
These criteria must be duly filled if you’re looking for studying master of management in Germany
- You must have completed 16 years of higher secondary education from a recognized institution.
- Every institution in Germany requires you to have a bachelor’s degree in a relevant subject.
- If you have bachelor’s in a non-related degree, the minimum work experience requirements are increased.
- Three years of graduation in any related field.
Master in Management in Germany: GMAT Requirements
Only some of the universities of Germany offering Masters in Management GMAT score. The minimum score is provided as follows:
| University | Minimum score required |
|---|---|
| WHU-Otto Business School of Management | 600 |
| TUM | Not required |
| Mannheim Business School | 600 |
| Frankfurt School of Management | Required or Frankfurt School Test |
| HHL Leipzig Graduate School of Management | 600 |
| ESMT Berlin | 640 |
Masters in Management in Germany: Work Experience Requirement
Work experience is an important aspect of Masters in Management admission in universities of Germany. Minimum requirement for popular universities are tabulated as follows:
| University | Work Experience Required |
|---|---|
| WHU-Otto Business School of Management | 3+ months |
| TUM | Not mandatory |
| Mannheim Business School | Required |
| Frankfurt School of Management | Not mandatory |
| HHL Leipzig Graduate School of Management | 3+ months by program start |
| ESMT Berlin | 18 months |
English Proficiency Requirement for International Students
International students are required to submit IELTS or TOEFL test scores to demonstrate proficiency in this language. The minimum requirement is tabulated as follows:
| University | Minimum Score Required |
|---|---|
| WHU-Otto Business School of Management | TOEFL: 100 IELTS: 7.0 |
| TUM | TOEFL: 88 IELTS: 6.5 |
| Mannheim Business School | German- C1 |
| Frankfurt School of Management | TOEFL:90 IELTS: 7.0 |
| HHL Leipzig Graduate School of Management | TOEFL: 90 IELTS: 7.0 |
| ESMT Berlin | TOEFL: 97 IELTS: 7.0 |
German Student Visa
Germany is the second most well-known destination in the world for migration. Therefore, the procedure for a student visa in Germany is a cakewalk if the documentation is done correctly.
Only when the student has received the acceptance letter or anything equivalent from the university, he or she can apply for the visa. Although there are varied types of visas that the students can apply for, a standard student visa requires the following documentation:
- A valid passport
- Two recent photographs
- Acceptance letter or any equivalent proof of admission.
- Official high school transcripts
- Evidence of financial status
- Health insurance
- Proof of payment of visa application fee
- Proof of English proficiency (TOEFL, IELTS)
- Proof of German proficiency (optional if a student is not pursuing language or mixed language studies)
Master in Management in Germany Cost of Study
Though the cost of tuition is almost negligible, still a student has to bear the cost of living in Germany which includes accommodation, transportation, social activities, and a decent administration fee per semester. The cost of living may range from 1000 to 1530 USD including the administration fees.
Pre-Arrival Cost
The money spent on application fees, various exams required to study in Germany, visa fees, etc is a part of your pre-arrival expense. The details of the same are as follows:
| Type of Expense | Cost (USD) |
|---|---|
| Program Application Fees | 100-150* |
| Visa Application Fees | 84 (75 Euro) |
| Health Insurance | 90-180** |
| IELTS Fees | 185-190 |
| TOEFL Fees | 160-250 |
| GMAT Fees | 250 |
| GRE Fees | 205-230 |
| Airfare | 450-1400 |
*Some universities do not charge an application fee.
Tuition Fees for Masters in Management in Germany
At some of the German Universities, no tuition fees are charged. However, international students are required to pay a mere amount as semester fees. The estimated costs that you will need to submit to study at popular German universities offering masters in management are detailed below:
| University | Fees in INR |
|---|---|
| WHU-Otto | 25.71 lakhs |
| TU Munich | 21,100 |
| Mannheim Business School | 4.8 lakhs |
| Frankfurt School of Finance & Management | 26.44 lakhs |
| ESMT, Berlin | 23.53 lakhs |
The cost of the complete degree is minimum at TUM. An overall range of expenses that an Indian student may need depending on the total program fees at various universities in Germany is around 22,000 INR to 27 Lakhs.
Cost of Living in Germany
The cost depends on the city you’re living in, transportation, and the kind of lifestyle you’ve adapted. A basic division of the total expense of the month would look like this:
| Type of Expense | Cost (USD) |
|---|---|
| Accommodation | 254-398 |
| Food And Drink | 190 |
| Clothing | 45 |
| Working Or Learning Materials | 23 |
| Travel | 110 |
| Health Insurance | 90 |
| Phone, Internet, Tv | 35 |
| Social Life | 68 |
| Total | 815-859 |
Masters in Management in Germany with Scholarships
In spite of following a tuition-free higher education system, you will be required to pay an administrative cost per semester. The government and private institutions bridge the deficit gap between the student’s financial ability and their needs.
The scholarship for international students in Germany ranges from 172 USD to 943 USD, per month. The country attracts 350,000 international students from all over the world for offering its students varied merit-based and need-based scholarships, grants, and other financial aids. Some of the financial aids available for those pursuing masters in Management are:
Government-funded Scholarships
- DAAD: The German academic exchange service (DAAD) is famous for granting aid to more than 100,000 German and international students pursuing various degrees. It offers almost 215 scholarship opportunities and other forms of aids. The students receive scholarships for their research-work, education, and assignments.
- Development-related postgraduate courses (EPOS): This scholarship is available for graduate students with outstanding academic performance and two years of work experience. The amount awarded is approximately 840 USD.
- Erasmus+: This scholarship program is conducted by the European mission, providing German students an average of 315 USD per month.
University Scholarships for Masters in Management in Germany
- WHU-Otto Business School: WHU merit scholarship offered to students with GMAT scores above 700. The award offered varies.
- ESMT Berlin: 5880 USD (number of scholarships offered-4) is offered to students with a 700+ GMAT score.
- HHL Leipzig: HHL Woman in Business- 5880 USD is offered to women students enrolled in MSc Management programs.
General Scholarship Requirements
- No age barriers
- A student can apply from any time between the last academic year and completion of the university degree.
- The scholarships are available only for full-time students
- Language proficiency certificates can be required by the students.
Find out more scholarships to study in Germany, here!
Jobs after Master in Management in Germany
Germany has maintained a commendable record of a 2.3% unemployment rate. Almost 62% of 350,000 international students choose to stay in Germany after they complete their education. Masters in management graduates are hired by companies for the job role of analysts, project leaders, managers, and many more. The average salary of Master’s in Management graduates in Germany is 105,000 Euro per year, indicating a satisfactory ROI.
Approximately, 37% of Master of Management graduates are recruited in the field of finance and 24% in finance. A student holding a degree of Master of Management in Germany can earn up to 96,000 Euro per year. Management graduates from top institutes in Germany were offered salaries ranging from 77,000 to 137,000 Euro annually. Given below are some of the popular jobs in Germany after graduating in management:
| Designation | Avg. Annual Salary in Euro |
|---|---|
| Project Development Manager | 161,664 |
| Revenue Manager | 155,000 |
| Business Development Manager | 179,000 |
| Project Planner | 133,000 |
| Reporting Managers | 149,000 |
Masters in Management vs MBA in Germany
Masters in management is a first-class post-graduation degree, designed to provide intense knowledge about management in the fields of Finance, Marketing, Entrepreneurship, and many others. The duration of the course varies depending on whether the student is studying part-time or full-time. For a full-time student, it takes 18-24 months to finish the course. The duration increases for part-time students.
There’s a very fine line drawn between MBA and Masters in management. The idea of both courses is the same. The differences lie in the composition of people pursuing it and the technicalities.
| Criteria | MIM | MBA |
|---|---|---|
| Work Experience Required | 2-3 | 3-5 |
| Cost | 36,000 | 48,600 |
| Education Type | Theoretical | Practical |
| GMAT | Not Mandatory | Required |
You are advised to apply in June, for winter intake, and in December, for summer intake to ensure admission in your choice of university. Pursuing masters in management in Germany is one degree offering high returns with very low investment for a study abroad aspirant. If you are planning to visit a country to pursue Master’s in Management, Germany is surely one of the best option to look into.
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