Last Updated: August 10, 2021
MBA from Germany
Candidates who opt to study MBA will generally be planning on switching careers or advancing their career prospects within the same field. People who wish to revamp their career entirely will do best if they move abroad for the same. Even studying the course in another country will give candidates a better perspective regarding the subject and provide them with better networking opportunities since most of the candidates will be from different parts of the world.
If the candidate is opting for a country like Germany, they will have to know that the main focus in an MBA course is that of research. Every subject that is taught under the course is dealt with in an in-depth fashion, providing candidates with better ideas and perspectives regarding both business and management. Due to the research-oriented approach the country has for MBA programs, candidates will be able to sharpen their existing skills based on the most recent changes in the business and corporate industry thereby excelling in their field.
Why Choose Germany for MBA?
Germany offers candidates a lot of options when it comes to MBA. The country has different specializations offered as part of the degree which may not easily be available in other parts of the world. When compared to the US, the country offers a large number of degrees to choose from which will help candidates procure admission without must hassle as long as they fit the eligibility criteria. Candidates will also be able to find institutions irrespective of what they have to offer.
Candidates will be able to compare the prices between MBA in the US and Germany to find that completing an MBA in Germany is financially more affordable. Due to the number of MBA degrees offered within the country, candidates will be able to find cheaper options that offer the best quality of education. The institutions in Germany also have an excellent pool of academicians in the field of business and management making students work with the best professors in the field during the duration of the course.
Since MBA is a professional degree, the most commonly considered question while choosing an institution is that of future career prospects. Germany being one of the strongholds of the economy in the world offers candidates with the best career prospects they want as soon as they complete the course. This can be in the form of internships or placements while candidates are already pursuing the course helping them create networks not just within their classroom but in the work-space they are familiar with. Candidates who pursue their MBA in Germany will have no trouble finding jobs both within Germany and in the US due to the recognition the degree holds everywhere in the world.
Tuition Fee for MBA in Top Business Schools in Germany
The tuition fee for MBA in Germany is considerably less when compared to the US. While the cost of pursuing an MBA can go up to $200,000 per year, the cost for pursuing the same degree will be around $59,000 on average. Candidates will also be surprised to find that most public-funded institutions in Germany will levy no fee for their degree programs and hence getting admission to one such institution will be one of the best options.
While public-funded institutions offer the course without a cost of attendance, they will be charging an admission fee which can change from institution to institution. On the other hand, private universities in the country are free to charge the fee they want which makes studying in private universities expensive. The fee they charge can be around $59,000 on average for an entire MBA degree. While this may seem to be a lot in Germany, the amount is substantially less when compared to the fee in the US. The general range for the cost of attendance in private universities for MBA is around 15,000 to 30,000 Euros per semester.
Candidates will have to pay around 200-300 Euros per semester as the admission fee will be around 230-350 USD. But this, along with the tuition is subject to variation depending upon the institution the candidate is studying in.
Financial Aid for MBA in Germany
Candidates who get admitted to universities in Germany will be able to avail themselves of scholarships and grants for their education. They will be able to cover the cost of attendance using these funds. In order to receive scholarships, candidates will have to register at DAAD/Deutscher Akademischer Austauschidienst which is the German Academic Exchange Service. Candidates will also be able to avail themselves of scholarships like-
- Heinrich Boll Foundation Scholarships
- Deustchland Stipendium National Scholarship Program
- Konrad-Adenauer-Stiftung Scholarships
- University College Dublin International Scholarships
- ESMT Americas Scholarship MBA
If the candidate wishes to receive scholarships relating to the university, they will have to send their details to the university they have been accepted in before the deadline. In order to know more details regarding the scholarships they can receive, they will have to contact the international office in their university who will guide them through the entire process. Candidates will have to send in their personal details along with their TOEFL/IELTS and GMAT scores.
Cost of Living in Germany
While Germany is not the most expensive country to live in within Europe, it can still seem to be expensive when compared to the EU average. The biggest expense that candidates will have while living in Germany as a student is that of rent. The other expenses include food, health insurance, and other cultural activities one might have to be part of.
On average, candidates will have to spend between 850 to 1000 euros per month for all these factors combined. The cost will vary depending on the location the candidate is staying in and while the minimum average is 850 euros, candidates who can manage their finances well will be able to spend way less in a month to survive in the country.
Duration of MBA in Germany
The duration of an MBA varies from university to university. While the country offers full-time, part-time, and executive MBAs, candidates will be able to do flexible courses as well depending upon the programs offered by their institution. The general duration for MBA is between 1-2 years. But candidates will also be able to complete their courses anywhere between 15 to 20 months depending on the pace at which they work and the requirements of the university.
Admission Requirements for MBA in Germany
Though the admission requirements can vary from institution to institution, there are general requirements that international candidates must meet if they wish to study in Germany. These requirements are-
- Passport/Identity Proof
- Transcript of recent degree
- Duly Filled Application Form
- Letters of Recommendation
- Statement of Purpose
- TOEFL/IELTS, as stated by institution
- GMAT Score, if specified
Residence Permit for Students
Candidates who wish to study in Germany will have to enquire whether they require a study visa or whether they only need a residence permit. People who are from the US, Canada, New Zealand, Israel, Japan, and South Korea, are not required to obtain a student visa before entering the country. These candidates will have to obtain a residence permit or Aufenthaltserlaubnis as soon as they arrive in the country.
Students who have been admitted for MBA will require a temporary residence permit which is issued for studying purposes. In order to apply for the residence permit, candidates will have to fulfill the following requirements:
- Candidate must have a valid passport
- Candidate must have a B1 level or above proficiency in German
- Candidate must have a German Health Insurance
- Candidate must not have a criminal record
The residence permit allows candidates to stay in the country for the duration of the course they have been admitted in. If they have the residence permit, they will also be able to work full-time or part-time for 120 or 240 days a year respectively. Candidates will also be able to extend this permit by 18 months after the completion of the course if they wish to find a job within the country.
Top Universities/Colleges for MBA in Germany
- Berlin School of Business and Innovation
- GISMA Business School
- IUBH University of Applied Sciences
- Manhein Business School
- HHL Leipzip
- WHU Otto Beisheim
- Munich Business School
- Frankfurt School of Management