Ultimate guide to pursuing MBA in Germany | Top colleges, fees & more!
Last Updated on June 30, 2021 by iSchoolConnect
MBA in Germany is a smart choice if you’re looking to pursue your management degree abroad at a very low cost. Germany is a hub for research, technology, and innovation, inviting more than 200,000 international students every year. If you want to be one of them, read on!
With 5 universities amongst the top 100 MBA programs in the world, Germany offers high-quality education at low costs. What’s more, an MBA in Germany will provide you with abundant internship and job opportunities after graduation.
But because the costs are low, the competition for getting admission into these universities is high.
This blog will not only give you in-depth details about pursuing your MBA in Germany but also share the eligibility criteria and application requirements you need to keep in mind while applying to German schools.
Why MBA in Germany?
While pursuing your MBA in USA, UK, or Canada is a great option, studying in Germany comes with its unique perks.
Some of them are-
- Low fee. Public universities in Germany are known for offering excellent education at zero tuition fees. You’re only expected to pay an administration fee before starting your classes. Private schools, on the other hand, charge a comparatively lower fee as compared to the top universities in other countries.
- High-ranking universities. As already mentioned, 5 of Germany’s MBA schools rank in the top 100 in the world. The professors at these universities have a strong background in teaching and years of experience that you can use to your advantage.
- Lower living costs. The cost of living in Germany is lower when compared to that of other European countries.
- Job opportunities. Germany is the 4th largest economy in the world. And yet, it experiences a shortage of skilled workers. As a result, the government encourages qualified international students to apply and offers lots of job opportunities to them.
- Scholarships. Not only does Germany offer the DAAD scholarship to international students but the top business schools of the country also provide scholarships to deserving students. Moreover, you will find a lot of privately funded scholarships for pursuing your MBA in Germany.
If you find these factors appealing, let’s look at which universities and MBA courses you can apply to.
Best universities for MBA in Germany
The standard MBA in Germany program can last for anywhere between 12 to 24 months depending on which university and course you’re applying for.
Some of the most commonly picked MBA programs by international students are a Full-time MBA, a Part-time MBA, or an Executive MBA.
Most German universities offer these courses at very low costs. What’s more, most of them are placed very high in the world rankings!
Here’s a list of the top MBA colleges in Germany–
- Mannheim Business School, University of Manheim
- Frankfurt School of Finance and Management
- WHU – Otto Beisheim Graduate School of Management
- ESMT Berlin
- HHL Leipzig Graduate School of Management
- European Business School
- ESCP, Berlin
- Technical University of Munich
- University of Cologne
- Berlin School of Economics and Law
While the exact entry requirements for MBA in Germany vary from one college to another, there are a few common conditions you need to consider.
You will be need to have-
- The German equivalent of a bachelor’s degree, i.e., a 4-year degree or a 3-year degree with 1 year of further education or relevant work experience
- Undergraduate transcripts
- Score 550+ in GMAT
- German language proficiency (if the course is taught in English, you will need to showcase your proficiency in the English language through IELTS, TOEFL)
- Statement of Purpose
- Letters of Recommendation
- Work experience of 1 to 3 years depending on which university program you’re applying to
To get the exact details regarding degree requirements, test scores, work experience, etc., it’s best to visit the official website of the university you’re applying to.
Once you have fulfilled all these conditions, you can start the application process!
MBA in Germany cost
The exact cost of pursuing your MBA in Germany will depend on the university and the course you wish to pursue.
For example, public universities in Germany levy no tuition and only ask you to pay the administration fee. Whereas private universities will charge you for your education. And naturally, some courses will be costlier than the others.
But to give you an overall idea-
- MBA in Germany cost (for public universities) – administration fee
- MBA in Germany cost (for private universities) – 15,000 to 50,000 euros (an Executive MBA will cost more)
Coming to the cost of living
Just like the tuition fee, the cost of living in Germany depends on a couple of factors – your university location and your lifestyle.
As a result, your monthly living expenses will be-
- Anywhere between 840 to 1200 euros a month
There are several ways to offset these expenses, like getting a scholarship, a part-time job, or finding ways to manage your money better.
What after MBA?
The quality education offered by German universities and the lucrative economy of the country ensure that business students get tons of job opportunities after graduation.
After graduating, the first thing you need to do is apply for the Residence Permit or the EU Blue Card, which will respectively allow you to find a job and work in the country.
There is a growing need for skilled professionals in Germany, especially in industries like Healthcare, IT, Education, Automotive, Finance, and E-commerce.
Several internationally recognized organizations like Adidas, Google, European Central Bank, Porsche, are located in the business hubs of Germany.
You can bag a position as an Executive Manager, a Company Manager, a Sales or an HR Manager. You can even work in Business or Product Management.
MBA graduates are some of the most highly paid professionals in Germany and earn anywhere between 70,000 to 120,000 euros per year!
If this isn’t enough to get you thinking about pursuing your MBA in Germany, drop us a comment or reach out to us.
We will clear all your doubts and answer any other questions you may have regarding studying in Germany.
All the best!