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Masters of Finance in Germany 2024: Public Universities, Fees, Requirements

Masters of Finance in Germany 2024: Public Universities, Fees, Requirements

Edited By Stuti Jain | Updated on Jul 19, 2024 05:30 PM IST

Masters of Finance in Germany is an excellent option for those seeking to pursue a career in the field of finance and accounting. Germany is one of the top sought-after study abroad destinations by international students due to its low educational costs and high standards of living. The total course duration for MIF in Germany is 2 years. Masters in Finance in Germany salary for graduates is approximately EUR 60,000, i.e. Rs 50 lakhs per annum.

Students planning to pursue a career in Masters of Finance in Germany must meet the course-specific requirements. In addition to this, they must have a strong application with a high GPA, involvement in extracurricular activities, and well well-written Statement of purpose. Having an LOR and work experience would be an advantage to international students, as the competition is quite high in top German Universities.

Some of the top universities that offer a masters of finance in Germany include Technical University of Munich, Free University of Berlin, WHU (Otto Beisheim), Ulm University, and more. The fees for Masters of Finance in Germany range from EUR 24,000 - EUR 37,000 for the complete course.

To reduce the cost of educational expenses, students can seek various scholarships offered by universities and organisations, these include DAAD, Erasmus Scholarships, and other scholarships in Germany. To learn more about the Masters of Finance in Germany, students must read the complete article which includes top universities, educational costs, free universities, scholarships, and career opportunities.

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Masters of Finance in Germany: Highlights

Particulars

Details

Programme Name

Masters of Finance in Germany

Programme Type

Full-time

Masters of Finance in Germany Duration

2 years

Masters of Finance in Germany requirements

Bachelor's degree

Language Proficiency Requirements for Masters of Finance in Germany

Minimum 6.0-6.5 IELTS band, TOEFL/PTE, or German language proficiency equivalent

Masters of Finance in Germany fees

EUR 10,000 - EUR 12,000 per year.

Top universities for Masters of Finance in Germany

  • Technical University of Munich

  • Free University of Berlin

  • WHU (Otto Beisheim)

  • Frankfurt School of Finance & Management

Masters of Finance in Germany Salary

EUR 40,000 - EUR 60,000

Standardised Test for Masters of Finance in Germany

GMAT/GRE

Top Masters of Finance in Germany Specialisation

  • Corporate finance

  • International Finance

  • Risk management

  • Financial economics

Top universities for Masters of Finance in Germany

Numerous universities in Germany offer master's programmes in English to international students. Some of the top universities ranked by QS 2024 Subject Rankings for finance are mentioned in the table below.

Best Universities for Masters in Finance in Germany for International Students

University

QS Masters of Finance Germany Ranking

WHU (Otto Beisheim)

22

Frankfurt School of Finance & Management

65

Goethe Business School

101+

Masters of Finance in Germany Public Universities

University

QS 2025 World University Ranking

Technical University of Munich

28

Free University of Berlin

97

University of Cologne

285

Ulm University

554

University of Kiel

611-620

University of Kaiserslautern

1201-1400

Masters of Finance in Germany Requirements

Candidates planning to seek admission to the Masters of Finance in Germany are required to meet the following admission criteria and submit the below-mentioned documents:

  • All Indian applicants must have a required bachelor’s degree (3-4 years) from an accredited and recognised university.

  • Students must have a high GPA of 3.0 or more.

  • Certain universities require GRE or GMAT scores for admission to masters of finance programmes.

  • Students from non-English speaking countries or whose first language is not English are required to provide proof of English language proficiency by taking IELTS, TOEFL, or PTE.

  • Some universities in Germany might require proficiency in the German language.

  • Candidates must also meet other course-specific requirements set by their chosen university.

Documents Required for Masters of Finance in Germany

Cost of Studying Masters of Finance in Germany

The cost of pursuing a Masters of Finance in Germany for Indian students varies depending on the university they choose. Public universities in Germany provide master's programmes at a low or no cost, with students just paying semester or enrollment fees. The average Masters of Finance fees in Germany are approximately EUR 10,000 - EUR 12,000 per year.

This cost includes international educational expenses in addition to living expenses in Germany. Although tuition is low in Germany, living expenditures are highly expensive. The cost of living in Germany is approximately 196.4% higher than in India, thus students must manage their finances accordingly.

Masters of Finance in Germany Fees

University

Masters of Finance in Germany Fees

WHU (Otto Beisheim)

EUR 30,300 - EUR 37,200

Frankfurt School of Finance & Management

EUR 39,000

Goethe Business School

EUR 20,500 - EUR 23,500

Technical University of Munich

EUR 4000 - EUR 6,000 per semester

Free University of Berlin

Free

Masters of Finance in Germany for Free

Although there is no tuition fee for public universities in Germany, students are required to pay the semester fees, which might vary depending on the university chosen by them. Some of the universities that offer masters of finance in Germany for free or at low tuition cost are mentioned below:

Read More: Cost of MS in Germany

Masters of Finance in Germany Scholarships

The cost of tuition in Germany is low, however, apart from the cost of tuition, students have to cover living expenses, which include accommodation, food, study materials, and other expenditures. To minimise the financial burden, students can apply for financial aid offered by universities and organisations in Germany. A few popular master finance germany scholarships are as follows:

  • The Deutschlandstipendium

  • DAAD Scholarships

  • TUM scholarships for international students

  • Heinrich Boll Scholarships

  • Erasmus Mundus Scholarship

Career opportunities After Masters of Finance in Germany

Students after completing a masters of finance in Germany can search for career opportunities in the fields of banking, finance, consulting, corporate, and international finance. The average master in finance salary in Germany is around EUR 40,000 - EUR 60,000 per year. There is a wide range of career prospects for MS finance graduates, and they are recruited by several reputable companies such as Deutsche Bank Group, Commerzbank, PwC, Allianz Worldwide, McKinsey & Company, and BMW Group. Popular career prospects after Masters of Finance in Germany are:

  • Investment Banking

  • Financial Analyst

  • Accountant

  • Financial adviser

  • Actuary

  • Finance Manager

  • Consultant

  • Corporate finance

  • Insurance

  • Risk management

Frequently Asked Questions (FAQs)

1. Is Germany good for masters in finance?

Yes, Germany is one of the best countries to pursue an MS in Finance, this is due to the high quality of education and a wide range of career opportunities. Germany is one of the most popular destinations among international students due to its low educational costs and high quality of living.

2. What is the salary of MS finance in Germany?

After the completion of MS finance in Germany, graduates can work in various sectors including banking, finance, consulting, corporate, and international finance. The average master in finance salary in Germany is around EUR 40,000 - EUR 60,000 per year. Students are recruited by several reputable companies such as Deutsche Bank Group, Commerzbank, PwC, Allianz Worldwide, McKinsey & Company, and BMW Group.

3. How much does it cost to do Masters in Finance in Germany?

The average cost of studying Masters of Finance in Germany are approximately EUR 10,000 - EUR 12,000 per year. In addition to this, students are also required to cover the cost of living expenses in Germany, which are around EUR 700 to EUR 1,200 per month.

4. Is GMAT required for Masters in Finance in Germany?

No, GMAT is not a mandated requirement for admission to Masters in Finance in Germany, however, some top universities might require GMAT scores as a part of their prerequisites. Also, having a good GMAT score will not only increase your chances of admission but also give you an edge over other applicants by making your application strong.

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Yes, it is absolutely possible to change fields in Germany after completing a BScYes, it is absolutely possible to change fields in Germany after completing a BSc in Biotechnology and pursue a Master's in Design, as Germany generally allows students to switch fields for postgraduate studies, provided you meet the necessary academic requirements and demonstrate a strong interest in design through relevant coursework or portfolio work.


Before applying just do courses related to graphic design software proficiency, creative projects, or relevant internships to strengthen your application and also course of Germany language helps you to gel up with other students

.



There are several scholarships available for international students who want to study medicine in Germany in English. Here are some options you can explore:

Government Scholarships:

  • DAAD Scholarships: The German Academic Exchange Service (DAAD) offers a variety of scholarships for international students, including for medical studies. These scholarships can cover tuition fees, living expenses, and health insurance.

  • BMBF Scholarships: The Federal Ministry of Education and Research (BMBF) also provides scholarships for international students, including those studying medicine.

University-Specific Scholarships:

  • University of Heidelberg: The University of Heidelberg offers several scholarships for international students, including for medical studies.
  • Charité - Universitätsmedizin Berlin: Charité also offers scholarships for international students, including for medical studies.
  • Technical University of Munich: The TUM offers several scholarships for international students, including for medical studies.

Private Scholarships:

  • Rotary Foundation Global Grants: The Rotary Foundation offers global grants for international students, including for medical studies.
  • Fulbright Program: The Fulbright Program offers scholarships for international students to study in the United States, but they may also be eligible for funding to study in Germany.

Tips for Applying for Scholarships:

  • Start Early: Begin your research and applications well in advance, as many scholarships have early deadlines.
  • Research Thoroughly: Explore all available scholarship options and carefully read the eligibility criteria for each one.
  • Prepare Strong Applications: Make sure your applications are well-written, highlight your academic achievements, and clearly articulate your motivation for studying medicine in Germany.
  • Network: Build relationships with professors, mentors, and other professionals who can provide you with letters of recommendation and support your applications.
  • Be Patient: The scholarship application process can be competitive, so be patient and persistent.

It's important to note that the availability and requirements for these scholarships can change from year to year, so it's recommended to check the websites of the specific scholarships you're interested in for the most up-to-date information. Additionally, you may want to consider consulting with an education consultant who specializes in studying in Germany to get personalized advice and support.

I hope it helps !!

Hi there,

Hope you are doing fine.

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Hope this resolves your query.

Hy,

Studying in Germany can be an attractive option due to its high-quality education and relatively low tuition fees. While "free" education is not always entirely accurate, many public universities in Germany do offer low or no tuition fees for international students. Here’s a guide to help you understand the process:

1. Understanding Tuition Fees

  • Public Universities : Many public universities in Germany charge low or no tuition fees for international students. However, there may be a nominal semester fee (which covers administrative costs, student services, etc.) that ranges from EUR 150 to EUR 300 per semester.
  • Private Universities : Private institutions generally charge higher tuition fees.

2. Eligibility for Free or Low-Cost Education

  • Public Universities : You can study at public universities with minimal tuition fees if you meet the admission requirements and apply to a program that does not have additional costs.
  • Scholarships : Various scholarships are available to cover living costs and other expenses. Check for scholarships offered by universities, government programs (like DAAD), or private organizations.

3. Application Process for German Universities

  1. Research Universities and Programs : Identify universities and programs that match your interests. Use resources like the DAAD (German Academic Exchange Service) website to find suitable options.

  2. Check Eligibility Requirements :

    • Academic Requirements : Ensure you meet the academic qualifications for the program you’re interested in. For undergraduate programs, this typically involves having completed secondary education equivalent to the German Abitur.
    • Language Requirements : Many programs are in German, so proficiency in German might be required. For programs in English, you will need to demonstrate proficiency in English (e.g., through TOEFL or IELTS scores).
  3. Prepare Documents :

    • Transcripts and Certificates : Your intermediate or high school transcripts and certificates.
    • Proof of Language Proficiency : If applicable.
    • Motivation Letter : Explaining why you want to study the chosen program.
    • CV/Resume : Detailing your educational background and any relevant experience.
    • Passport : A valid passport.
  4. Apply Through University or Uni-Assist :

    • Direct Application : Some universities allow direct applications through their own online portals.
    • Uni-Assist : Many universities use Uni-Assist, a service that helps with the preliminary review of applications from international students. Check if the university you’re applying to uses Uni-Assist.
  5. Apply for a Student Visa :

    • Visa Application : Once admitted, apply for a student visa at the German embassy or consulate in your home country. You'll need proof of admission, financial resources, and health insurance.
  6. Attend Interviews (if applicable) : Some programs might require interviews or additional assessments.

  7. Register at the University : Once you receive your visa and arrive in Germany, complete your registration at the university.

Scholarships and Financial Aid

  • DAAD Scholarships : The German Academic Exchange Service offers various scholarships for international students.
  • University Scholarships : Check if the universities you are applying to offer scholarships or financial aid.

Summary

While you may not find completely free education, many German public universities offer low-cost education. The application process involves researching universities, meeting eligibility criteria, preparing necessary documents, and applying either directly or through Uni-Assist. Additionally, exploring scholarship opportunities can help cover living costs.

For the most accurate and specific information, always refer to the official websites of the universities and the DAAD website.


There might be discrepancies between your academic documents (graduation certificate with old name) and application documents (with new name). This can cause delays while German authorities verify the name change.

You might need to provide additional documents to prove the name change is legal and legitimate.

I hope it helps!

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