Master Of Management in Germany: A Complete Guide
Masters of Management in Germany is a 1.5 to 2 year long program offered to students with a previous experience in the field. Some of the best management institutions of Germany include, Frankfurt School of Finance and Management, Leipzig Graduate School of Management and many more. The country overall enrolls 52,168 students in business management, per year. With factors including no tuition fees, and housing 6 of the top 100 universities according to the Academic Ranking of World Universities (ARWU), Germany becomes a befitting country to study management.
Why Study Master of 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. There are a list of reasonable factors that’ll help you decide whether to study in Germany or not.
- 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: According to a 2017 study, 132,726 students were found enrolling for post graduate 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 the 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) 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 round the world will make you reach the epitome of your career.
- Highest paying degrees : A student completing Master of Management in Germany can earn up to 118,000 USD per year.
Master of Management in Germany: Top Universities
Masters of management in Germany is offered at some of the universities. According to QS News Ranking of 2020 for master in management, following are the top universities offering Master of Management in Germany:
|School/College||QS Ranking 2020||Program Duration||Annual Tuition Fees (USD)|
|Whu-Otto Beisheim School Of Management||13||21 months||17,538|
|Technical University, Munich||20||two years||144|
|Mannheim Business School||25||two years||3,330|
|Frankfurt School Of Finance And Management||52||two years||18,040|
|Esmt, Berlin||67||two year||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. A variety of specializations are offered in management degree 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.
Master in Management in Germany: What It is About
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 the part-time students.
MBA v/s Masters in Management
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.
|Work Experience Required||2-3||3-5|
Master of Management in Germany: Admission
A bachelor's degree preferably in management related discipline and relevant work experience is required to apply for Master of Management in Germany. The admission Requirements for Masters in Management in Germany are given below Germany.
- Duly-filled application form
- Passport, valid till the last day of your stay in Germany.
- A photocopy of the passport
- An evidence of higher education
- A Proof of English proficiency
- A proof of German proficiency, wherever required.
- Personal essays
- Proof of work experience
There might be other documents required depending upon the university you chose.
Master in Management in Germany: Eligibility
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.
- Three years of graduation in any related field.
- The average German grade required in an undergraduate degree is 2.6 to 3.5, which is approximately 65-80% percentile.
- Minimum required scores in the English proficiency test accepted by the chosen university. Generally, for IELTS, the minimum score is 6.5 and for TOEFL, it's 82.
- German language proficiency may be required for the programs offered partly in German.
- DSH level II or Goethe level C1
- Most of the management universities require 1-2 years of work experience
Note: These documents and eligibility criteria are general. It may vary from university to university.
Master of Management in Germany: Admission Deadlines
If you want to ensure admission in the university you want, you are advised to apply 2 months prior to the university deadlines.
- The academic calendar is semester-based, including winter and summer semester.
- The application process usually starts from December 1 and the deadline is January 15. As for winters, the process starts on June 1 and the deadline is July 15.
- A student will be notified within 3 weeks after the deadline. It may again differ from university to university.
Student Visa for International Students
Germany is the second most well-known destination in the world for migration. Therefore, the procedure for a student visa in Germany is a cake walk 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 a varied types of visas that the students can apply for, a standard student visa requires 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.
The money spent of application fees, variousexams 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)|
*Some universities do not charge an application fees.
Tuition Fees for Master of Management in Germany
At some of the German Universities no tuition fees is charged. However, international students are required to pay a mere amount as semester fees. Depicted below is a graph comparing the tuition fees/semester fees for the popular universities offering master in management in Germany:
The cost of the complete degree is minimum at TUM. An overall range of expense 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, 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)|
|Food And Drink||190|
|Working Or Learning Materials||23|
|Phone, Internet, Tv||35|
Master of 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.
- 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 the 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.
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!
Master in Management in Germany: Scope
Germany has maintained a commendable record of 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.
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 111,800 USD per year. Management graduates from top institutes in Germany were offered salaries ranging from 90,000 USD to 160,000 USD annually. Given below are some of the popular jobs in Germany after graduating in management:
|Designation||Avg. Annual Salary (USD)|
|Project Development Manager||187,530|
|Business Development Manager||208,000|
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.
Ques. Is there a possibility for international students to stay back in Germany after graduation?
Ans. In most cases, international students are offered an eighteen month stay-back in Germany after completion of their masters degree.
Ques. What are the basic eligibility requirements for Masters of Management in Germany?
Ans. To be eligible for the masters in management in Germany you must have 2-3 years of work experience along with a relevant bachelors degree. IELTS/TOEFL scores are also required for international students. IELTS-6.6, TOEFL-82 is the minimum score requirement for language proficiency. You may also need to have German language proficiency.
Ques. What is the cost of studying Masters of Management in Germany?
Ans. The tuition fee for Masters in Management in Germany ranges from 144 USD to 18000 USD per year. Some universities do not charge a tuition fees, but ask for a semester fees from international students..
Ques. Is GMAT score mandatory for Masters of Management in Germany?
Ans. GMAT is not mandatory for pursuing master in management in Germany.
Ques. How much can you earn with a Masters of Management in Germany?
Ans. You can earn as much as 200,000 USD/year depending on your job profile. However, the average annual salary for a postgraduate in management in Germany is around 70,000-100,000 USD annually at an entry level.