Germany is known worldwide for its excellent higher education system. Studying for a Master of Business Administration (MBA) degree in Germany can be a great opportunity for international students. This article will take a look at some of the top universities in Germany that offer high-quality MBA programs along with scholarship options.
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What is an MBA degree?
An MBA or Master of Business Administration is a postgraduate degree in business administration. Some key things to know about an MBA:
Duration
Most MBA programs in Germany are 2 years full-time. Some universities also offer part-time or executive MBA options that can take 3-4 years.
Coursework
Common MBA subjects include accounting, finance, marketing, operations management, statistics, leadership, strategy, and more. The curriculum focuses on both theoretical knowledge and practical skills required for management roles.
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Employment Prospects
An MBA degree opens up many career opportunities in various industries like consulting, banking, tech, healthcare etc. Graduates can work in roles like project manager, product manager, finance analyst etc. Some pursue entrepreneurship as well.
Costs
The tuition fees for an MBA program in Germany range from free (if studying at a public university as an EU student) to up to €20,000-30,000 per year at private universities. Living costs add up to around €800-1000 per month on average.
Scholarships
Many top universities in Germany offer attractive scholarship programs for international MBA students. These can range from tuition fee waivers to monthly stipends. Let’s explore some of the top scholarship options.
Top 5 Universities for MBA in Germany
1. Humboldt University Berlin
About the University: Founded in 1810, Humboldt University Berlin is one of the oldest and most prestigious universities in Germany. It has around 34,000 students and a campus located in the heart of Berlin.
MBA Program: The MBA program is taught entirely in English. The specializations offered include Finance, Marketing, Consulting etc. Duration is 2 years full-time.
Scholarships: Humboldt University offers the Humboldt Research Scholarship which provides a monthly stipend of €1,395 along with health insurance coverage for the duration of the MBA. Up to 50% tuition fee waivers are also given.
2. University of Cologne
About the University: Founded in 1388, the University of Cologne is renowned for its studies in business, law, and humanities. It has over 48,000 students and campuses spread across the city of Cologne.
MBA Program: The English-taught MBA has specializations in fields like Digital Business, Sustainability, Healthcare, etc. Duration is 2 years full-time or 3-4 years part-time.
Scholarships: The DEUTSCHLANDSTIPENDIUM provides up to €300 per month for the duration of the degree based on academic performance and extracurricular activities. Tuition fee waivers up to 50% are also available.
3. Ludwig Maximilian University of Munich
About the University: Founded in 1472, LMU Munich is one of the largest universities in Germany with over 50,000 students. It has a picturesque campus located in the heart of Munich.
MBA Program: The MBA is taught entirely in English. Focus areas include Digital Business, Entrepreneurship, Finance etc. Duration is 2 years full-time.
Scholarships: The LMUexcellent Scholarship provides up to 100% tuition fee waiver for the duration of the degree based on academic excellence. Monthly stipends of up to €700 are also awarded.
4. WHU-Otto Beisheim School of Management
About the University: Founded in 1984, WHU is a private business school located in Vallendar and Düsseldorf. It is ranked among the top 10 business schools in Germany.
MBA Program: Specializations offered are Banking & Finance, Marketing & Sales, Family Business etc. Duration is 2 years full-time. International study trips are included.
Scholarships: Up to 100% tuition fee waivers are provided based on an application process considering academic merit and potential. Monthly stipends of €850 are also awarded.
5. Mannheim Business School
About the University: Established in 1898, Mannheim Business School is part of the University of Mannheim. It has a picturesque campus located close to Frankfurt and Stuttgart.
MBA Program: Specializations include Innovation & Entrepreneurship, Finance, Sustainability. Duration is 2 years full-time. International exchange opportunities are available.
Scholarships: Up to 50% tuition fee waivers and monthly stipends up to €1,000 are provided based on an application process assessing merit, experience, and commitment to the program.
Frequently Asked Questions about MBA in Germany
Is Germany tuition-free for international students?
While public universities in Germany do not charge tuition fees for undergraduate courses, there are tuition fees applicable for postgraduate programs like an MBA. The fees vary based on the university – usually between €10,000 to €30,000 per year. Scholarships can provide full or partial tuition fee waivers.
What is the average cost of living in Germany?
The average monthly living costs for a student in Germany range from €800-€1000. This includes shared accommodation, food, transport, books etc. Cities like Berlin and Cologne have relatively lower costs of living while Munich and Düsseldorf are more expensive.
What are the admission requirements for an MBA in Germany?
The standard admission requirements include:
- A relevant bachelor’s degree (in business, engineering or a quantified discipline)
- Minimum 2 years of full-time work experience
- Proficient German or English language skills
- GMAT score (over 650) or GRE is required by most universities
- Letter of motivation and reference letters
- Interview round for shortlisted candidates
Is work permitted during and after an MBA in Germany?
Students are allowed to work part-time (120 full or 240 half days per year) during their MBA program in Germany. After graduation, students are eligible for an 18-month job search visa which allows them to take up full-time employment. With work experience, students can apply for a Blue Card or permanent residency as well.
What are the career prospects after an MBA in Germany?
The MBA opens up global career opportunities both in Germany as well as in other European countries and internationally. Some top roles MBA graduates pursue include:
- Management Consulting
- Investment Banking
- Corporate Strategy
- Business Development
- Venture Capital / Private Equity
- Entrepreneurship
With multinational work experience, the salary packages range from €60,000 to €150,000 per year on average.
Scholarship Tips for MBA Applicants
Have a strong profile
Focus on academics, relevant experience, leadership roles, international exposure and extracurricular activities to make your application stand out for scholarships.
Research university & program fit
Thoroughly research the university, MBA specializations, faculty, and culture. Emphasize in your application why this university is the best fit for you.
Highlight goals and impact
Clearly outline your short-term career goals and long-term social/professional impact plans in the essay. Scholarship committees look for committed and purposeful candidates.
Ask for recommendation letters
Request strong letters of recommendation from senior professionals, mentors or academics who can vouch for your strengths and potential.
Prepare for interviews
Practice popular interview questions to articulately present yourself. Display excellent knowledge of the scholarship, and university, and enthusiasm for the program.
Proofread applications
Get others to proofread your application for errors. Make sure documents are perfectly formatted, and grammatically correct with clear thoughts professionally presented.
Conclusion
To summarize, Germany presents outstanding opportunities for an MBA education at world-class universities. The highly skilled and specialized programs coupled with attractive scholarships make it an affordable option for international students. With its top-ranking universities, vibrant business culture and excellent career prospects, Germany is a leading MBA study destination in Europe.
Some other key aspects to consider when choosing an MBA program in Germany include specialization options, teaching pedagogy, industry connections, and alumni network. While the five universities featured in this article are excellent choices, there are many other reputed B-schools across cities like Mannheim, Frankfurt, Hamburg etc. as well.
It is also a good idea to visit potential universities in person if possible to experience the campus culture before applying. Speaking to current students, faculty and local recruiters can help gauge the fit better. Additionally, learning basic German language skills, even at a conversational level, goes a long way in networking and settling in the country.
