Masters in Management in Germany is a 2-year postgraduate degree program which prepares students for a successful career in a global business environment. The admission requirements may vary depending on the university and program, but in general, applicants are required to have a Bachelor's degree in a related field with an overall aggregate of 75%. Additionally, several top universities for Masters in Management in Germany may also require you to submit strong GMAT scores for admission.
The tuition fees for MiM in Germany is relatively affordable as compared to other European countries, with the average cost around €15,000 to €45,000 (INR 13.50 lakhs – 40 lakhs) per year. Additionally, Germany also has a lower cost of living, making it an attractive option for international students. The cost of living in Germany varies depending on the city, with a monthly cost of €700-€1,000 (INR 63,000 – 90,000) for accommodation, food, and transportation.
After studying Masters in Management courses in Germany, graduates are usually placed at some popular companies, such as McKinsey & Company, Deutsche bank, BMW, and Nestle. These companies offer lucrative salaries of around £ 70,000 (INR 63.07 lakhs).
Masters in Management in Germany: Highlights
| Program | Masters in Management |
| Program Type | Full-time | Part-time |
| Program duration | 1.5 – 2 years |
| Eligibility criteria | A 3/4-year bachelor’s degree in a related discipline from a recognized institution, along with strong GMAT scores |
| GPA | 2.5 on a 4.0 scale (77 – 79%) |
| English proficiency requirements | IELTS : 6.5-7.0 | TOEFL-iBT: 90-100 |
| Tuition fee range | £15,000 - £ 45,000 (INR 13.50 lakhs – 40 lakhs) |
| Average Salary | £ 70,000 (INR 63.07 lakhs) |
| Top Employers | McKinsey & Company | Boston Consulting Group | Deutsche bank | Commerzbank | BMW | Volkswagen | Nestle | Henkel | Siemens | SAP | Bosch |
Top Universities for Masters in Management in Germany
Germany is home to some of the world's leading universities, offering exceptional Masters in Management programs for students seeking to advance their careers in business. In this section, we'll highlight the top universities in Germany that provide high-quality education and valuable industry connections to students pursuing a Masters in Management degree.
| University | Program | Deadlines | Total Tuition Fees (EUR) |
|---|---|---|---|
| CBS International Business School | MA. Financial Management | MA. Marketing Management | 15th October 2022 ( Summer intake) | 15th May 2023 (For winter intake) | 15,840 |
| Frankfurt School of Finance & Management | MS in Management | MS in Financial Management | 30th June 2023 | 35,500 |
| Munich Business School | MS in Luxury Management | MS in International Marketing and Brand Management | 31st October 2022 (Summer intake) | 15th April 2023 (Winter intake) | 24,900 |
| Technische Universität München | MS in Management | 31st May 2023 | No tuition fees, only a semester fee of £ 152.30 |
| ESMT Berlin | Master in Global Management | 31st July 2023 | 32,000 |
| University of Cologne | MS in International Management | 31st March 2023 | No tuition fees, only a semester fee of £ 318 |
| Mannheim Business School | Master in Management Analytics | 30th June 2023 | 29,000 |
| University of Mannheim | Masters in Management | 15th May 2023 | No tuition fees, only a semester fee of £ 1,500 |
| GISMA Business School | MS in International Business Management | MS in Business Management | Rolling basis | 15,500 |
| WHU - Otto Beisheim School of Management | Master in Management | 30th April 2023 | 34,800 |
Read More: Masters Of Management in Germany: Top Universities, Fees, Eligibility, Scholarship, Scope
Why study Masters in Management in Germany?
- Germany is home to several large and successful companies, including BMW, Siemens, and Deutsche Bank, which can provide excellent job opportunities for graduates. Additionally, Germany has a thriving startup scene, which is ideal for graduates who want to work in an entrepreneurial environment.
- In terms of rankings, several German universities offer Master of Management programs that are highly regarded worldwide. For example, the University of Mannheim's Mannheim Master in Management program is ranked 4th in Europe by the Financial Times. Other highly ranked programs in Germany include the WHU Master in Management program and the HHL Leipzig Graduate School of Management.
- Graduates with a Master of Management degree from Germany can expect to earn a competitive salary. According to data from the Federal Employment Agency, the average starting salary for graduates with a Master of Management degree is around €46,000 (41.39 lakhs INR) per year. However, salaries can vary depending on factors such as the graduate's level of experience, industry, and location.
- Germany's unemployment rate remains relatively low compared to other European nations, and despite a slight increase in recent years, it has remained stable overall. As of 2023, the average unemployment rate in Germany was recorded at 5.7 percent, which is a positive sign for the country's economy.
Overall, pursuing a Master of Management degree in Germany can provide students with excellent job prospects, high salaries, and a high quality of life. German universities offer highly ranked programs and graduates can expect to find jobs in large corporations, startups, or other entrepreneurial ventures.
Masters in Management in Germany: Admissions
To apply for Masters in Management courses in Germany, students need to fulfill certain eligibility criteria. These can vary depending on the university and program but typically include a bachelor's degree in a related field, proficiency scores in German or English, depending on the language of instruction. Some universities may also require applicants to have relevant work experience or to submit standardized test scores, such as the GMAT or GRE.
In terms of intakes and application deadlines, most universities in Germany have two intakes per year - in the winter semester (starting in September/October) and the summer semester (starting in March/April). Application deadlines for these intakes typically fall a few months prior to the start of the semester and vary depending on the university.
The application process for Master of Management courses in Germany typically involves submitting an online application form, academic transcripts, a CV, letters of recommendation, and a statement of purpose. Some universities may also require applicants to attend an interview or take an entrance exam. Additionally, international students may need to obtain a student visa before traveling to Germany to study.
Eligibility Criteria
Entry requirements for international students to obtain a Master’s in Management differ from one university to other. However, the general requirements that one must meet to be eligible for MM admission are:
- Academic Degree- A 3/4-year bachelor’s degree in a related discipline from a recognized institution, along with strong GMAT scores
- Minimum GPA- 2.5 out of a 4.0 scale (77-80%)
- GRE or GMAT Score- Required
- English Proficiency Test Score- IELTS : 6.5-7.0 | TOEFL-iBT: 90-100
- Statement of Purpose/Essay- Required
- Letters of Recommendation- 1-2 LoRs
- Coursework-. Accounting, Finance, Statistics, Economics, Organizational Behavior
- Experience- Optional requirement. (Two years or more preferred)
Certain universities have certain additional requirements as well so check the course details of each university to know the specific requirements for admission. Additionally, international applicants also need to have a Germany Student Visa for admission to MiM in Germany.
Masters in Management in Germany: Admission Requirements
The various admission requirements for MiM in Germany at the top universities are:
| University | Academic requirement | GMAT/GRE score | Additional documents |
|---|---|---|---|
| CBS International Business School | A bachelor’s degree from a recognized institution | Not required | CV | High school certificates | Letter of motivation | Proof of English proficiency |
| Frankfurt School of Finance & Management | A bachelor’s degree from a recognized institution | Required | Admissions interview | Proof of English language proficiency |
| Munich Business School | A bachelor’s degree from a recognized institution | Optional | Personal interview | CV | Proof of English language proficiency | Academic references |
| Technische Universität München | A bachelor’s degree from a recognized institution | GMAT score of at least 640 | Official transcripts | Proof of English language proficiency | CV | Essay |
| ESMT Berlin | A bachelor’s degree from a recognized institution in a related discipline | Required | Two years of professional work experience | Proof of English language proficiency | Personal essays | One letter of reference | Personal interview | CV |
| University of Cologne | A bachelor’s degree from a recognized institution in management, business administration, or economics | High ethical conduct | Optional | Work experience preferred | Proof of English language proficiency | CV/resume |
| Mannheim Business School | A bachelor’s degree from a recognized institution in a related discipline | Optional | Postgraduate work experience | Proof of English language proficiency | CV/resume |
| University of Mannheim | A bachelor’s degree from a recognized institution | GMAT score of 600 preferred | Relevant professional activities such as internships, jobs, etc.| Proof of English language proficiency |
| GISMA Business School | A bachelor’s degree from a recognized institution | Optional | Completion of GISMA entrance test | Proof of English language proficiency | APS certificate |
| WHU - Otto Beisheim School of Management | A bachelor’s degree from a recognized institution in a related discipline | GMAT score of 600 required | CV | Two years of professional work experience | Proof of English language proficiency | Official transcripts |
Masters in Management in Germany: Cost
The cost of study is a crucial factor to consider when pursuing a Master of Management in Germany. Tuition fees for Masters in Management courses in Germany can range from €15,000 to €45,000 (INR 13.50 lakhs – 40 lakhs) per academic year, depending on the institution and program. However, many top universities in Germany offer scholarships and financial aid to international students, which can significantly reduce the cost of study. These scholarships can cover tuition fees, living expenses, and travel costs.
Apart from tuition fees, the cost of living in Germany varies depending on the city and lifestyle. The average cost of living for a student per month in Germany is around €700-€1,000 (INR 63,000 – 90,000) , which includes accommodation, food, transportation, and other personal expenses. Annual costs can range from €9,000 to €12,000 (INR 8.10 lakhs – 10.80 lakhs) per year, depending on the location and lifestyle.
MiM in Germany: Tuition Fee
The tuition fees vary for most universities. The following table shows the total tuition fees for pursuing MiM in Germany:
| University | Total Tuition Fees (EUR) | Fees for Indian students (INR) |
|---|---|---|
| CBS International Business School | 15,840 | 14.25 lakhs |
| Frankfurt School of Finance & Management | 35,500 | 31.95 lakhs |
| Munich Business School | 24,900 | 22.41 lakhs |
| Technische Universität München | Semester fee of £ 152.30 | Semester fee of INR 13,710 |
| ESMT Berlin | 32,000 | 28.80 lakhs |
| University of Cologne | Semester fee of £ 318 | Semester fee of INR 28,627 |
| Mannheim Business School | 29,000 | 26.10 lakhs |
| University of Mannheim | Semester fee of £ 1,500 | Semester fee of INR 1.35 lakhs |
| GISMA Business School - Hannover Campus | 15,500 | 13.95 lakhs |
| WHU - Otto Beisheim School of Management | 34,800 | 31.32 lakhs |
Cost of living in Germany
As compared to other European countries, Germany is not an expensive study-abroad destination. However, the cost of living in Germany is still higher than that of India. The following table illustrates annual expenses of a student in Germany:
| Expense Type | Average Annual Expense (EUR) | Cost for Indian students (INR) |
|---|---|---|
| Accommodation | 6,000 | 5.40 lakhs |
| Meals | 2,400 | 2.16 lakhs |
| Transportation | 840 | 75,620 |
| Health insurance | 1,200 | 1.08 lakhs |
| Personal expenses | 1,800 | 1.62 lakhs |
| Total | 12,240 | 11.01 lakhs |
Masters in Management in Germany: Scholarships
The following table shows the list of scholarships and their details, which are available for International students:
| Scholarship | Eligibility criteria | Award Value |
|---|---|---|
| MBS BEST scholarship | Good GPA | Willingness to commit to the Munich Business School | Up to 40% tuition fee coverage |
| DAAD Scholarship Programs | Strong academic performance | Two years of professional work experience | £ 1,200 monthly stipend | Travel allowance |
| DeutschlandStipendium National Scholarship Programme | Strong academic performance | Monthly stipend of £ 300 | Full tuition fee coverage |
| Erasmus scholarships | Strong academic excellence | Must be part of the student exchange program in the host country | Full coverage of traveling, living, and other study-related costs |
| CBS Scholarship | Strong academic performance | Social commitment | A letter of motivation | A one-time stipend of £ 3,000 |
| Konrad Adenauer Foundation (KAS) scholarship | Have B2 level knowledge of the German language | Interest in social work | Strong academic performance | Monthly stipend of £ 850 | Tuition fee refund if up to £ 1,500 |
| Friedrich-Ebert-Stiftung (FES) scholarship | Strong academic performance | Commitment to society | Monthly stipend of up to £ 744 | Flat student fee of £ 300 |
You can also check out various International scholarships to study in Germany before applying to study.
Jobs after Masters in Management in Germany
After the successful completion of Masters in Management courses in Germany, graduates can expect various top-level placements. The following table shows the average annual salary that graduates can expect for different positions:
| Profession | Average Salary (EUR) | Salary for Indian Student (INR) |
|---|---|---|
| Management consultants | 73,200 | 65.89 lakhs |
| Business analysts | 53,182 | 47.87 lakhs |
| Marketing managers | 45,876 | 41.29 lakhs |
| Project manager | 60,224 | 54.21 lakhs |
| HR managers | 50,000 | 45 lakhs |
| Financial analysts | 50,156 | 45.15 lakhs |
Explore: Post-Study Work Visa in Germany
Masters in Management in Germany: Returns on Investment
The following table shows the comparison between total tuition fees and average salary per year for various universities:
| University | Total Tuition fee (EUR) | Average Graduate Salary per year (EUR) |
|---|---|---|
| CBS International Business School | 15,840 | 60,000 |
| Frankfurt School of Finance & Management | 35,500 | 54,500 |
| Munich Business School | 24,900 | 70,000 |
| ESMT Berlin | 32,000 | 53,000 |
| Mannheim Business School | 29,000 | 93,000 |
| GISMA Business School - Hannover Campus | 15,500 | 45,000 |
| WHU - Otto Beisheim School of Management | 34,800 | 63,500 |
MiM in Germany v/s 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 in Germany | MBA in Germany |
|---|---|---|
| Work Experience Required | 2-3 years | 3-5 years |
| Cost | £15,000 - £ 45,000 (INR 13.50 lakhs – 40 lakhs) | £10,400 to £49,500 (INR 9.1 Lakhs to INR 43.4 Lakhs) |
| Education Type | Theoretical | Practical |
| GMAT | Not Mandatory | Required |
MiM in Germany v/s MiM in USA and UK
Choosing the right country for pursuing a Masters in Management (MiM) can have a significant impact on one's career prospects. Germany, USA, and UK are popular study destinations for MiM programs. In this section, we'll explore the key differences between MiM in Germany, the USA, and the UK, helping students make an informed decision about where to pursue their degree.
| Parameter | Masters in Management in Germany | Masters in Management in the USA | Masters in Management in the UK |
|---|---|---|---|
| Duration | 2 years | 1.5-2 years | 1.5-2 years |
| Average Tuition fees | £15,000 - £45,000 (INR 13.52 lakhs – 40.56 lakhs) | $ 70,000 - $ 90,000 (INR 57.38 lakhs – 73.77 lakhs) | £ 40,000 – 44,000 (INR 36.05 lakhs- 39.59 lakhs) |
| Cost of living | £8,000 – 12,000 (INR 7.21 lakhs – 10.81 lakhs) | $ 18,000 (INR 14.89 lakh) | £ 11,500 (INR 9.51 lakh) |
| English proficiency tests | IELTS: 6.5-7.0 | TOEFL-iBT: 90-100 | IELTS: 6.0-6.5 | TOEFL-iBT : 79 overall | IELTS: 6.5 | TOEFL-iBT : 90 overall |
| Visa | German Student visa | F-1 student visa | Tier-4 study visa |
| Average Salary | £92,650 (INR 83,50,949) | $ 175,000 (1.43 cr INR) | £ 68,000 (INR 61.29 lakhs) |
Pursuing a Master of Management in Germany is a valuable investment in one's future. Students can gain a top-notch education, experience a vibrant culture, and enjoy an affordable cost of living. With highly-ranked universities, practical skills development, and a supportive academic environment, Germany is an excellent study destination for students pursuing a career in management.
FAQs
Ques. What is the duration of Masters in Management in Germany?
Ans. The duration of Masters in Management in Germany can range from 1 to 2 years, depending on the program and the university. Some programs may offer the option to complete the program on a part-time basis, which may extend the duration of the program
Ques. Are there any scholarships available for MiM in Germany?
Ans. Yes, there are various scholarship opportunities available for international students in Germany. These include scholarships offered by the universities, DAAD scholarships, and scholarships offered by other organizations such as foundations, non-profit organizations, and private institutions.
Ques. What is the average tuition fee for Masters in Management in Germany?
Ans. The average tuition fee for Masters in Management in Germany ranges from £15,000 to £45,000 per academic year. However, this may vary depending on the university, program, and the student's country of origin.
Ques. What is the language of instruction for Masters in Management courses in Germany?
Ans. Many MiM courses in Germany are offered in English, although some may also be offered in German. English proficiency tests such as TOEFL or IELTS may be required for non-native English speakers.
Ques. What is the cost of living for international students in Germany?
Ans. The cost of living for international students in Germany is relatively affordable compared to other European countries, with an average monthly cost of €850 to €1,000. This includes accommodation, food, transportation, and other living expenses. However, this may vary depending on the student’s location, cost of items, etc.
Ques. What are the job prospects for the graduates of Masters in Management in Germany?
Ans. Graduates of Master of Management programs in Germany have diverse career opportunities across different industries. They can pursue roles such as management consultants, business analysts, marketing managers, project managers, financial analysts, and human resources managers, among others.
Ques. What is the eligibility criteria for Masters in Management in Germany?
Ans. The eligibility criteria for Masters in Management in Germany can vary depending on the university and program. However, generally, applicants must have a Bachelor's degree from a recognized institution, meet the minimum GPA requirements, and demonstrate proficiency in the English language. Some programs may also require relevant work experience or a certain level of academic achievement.
Ques. Can international students work part-time while studying MiM in Germany?
Ans. Yes, international students are allowed to work part-time for up to 20 hours per week during the academic year and full-time during the semester breaks. This can help students earn extra income and gain work experience while studying.
Ques. What are the intakes for Masters in Management in Germany?
Ans. The intakes for Master of Management programs in Germany vary depending on the university, but typically include two intakes per year - the winter semester (beginning in October) and the summer semester (beginning in April). Some universities may also offer rolling admissions, allowing students to start their program at different times throughout the year.
Ques. What are the top-ranked Masters in Management courses in Germany?
Ans. There are several top-ranked Master of Management programs in Germany, including those offered by universities such as Mannheim Business School, ESMT Berlin, and HEC Paris. These programs are recognized for their academic excellence, quality of faculty, and strong industry partnerships.
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