According to the World Bank, Germany is the fourth largest economy in the world and the largest economy in Europe. This is primarily due to the fact that Germany is an innovative nation and a leading country in conducting research and technology development. Germany needs skilled professionals and this gap can be only fulfilled by attracting more international students to keep its powerhouse economy moving. According to QS 2017 rankings, Germany hosts some of the world’s top-100 business schools. Germany is the fifth most popular destination among study abroad aspirants. Alongside offering lucrative job prospects, applicants can choose from a wide range of specializations such as Innovation and Entrepreneurship, International Marketing, International Healthcare Management and Technology Management. Given the benefits of pursuing an MBA in Germany, by 2020 the number of foreign students studying in Germany is expected to be close to 350,000.
Why pursue an MBA in Germany?
Several factors make Germany a preferred destination to pursue an MBA:
• International students are welcomed to pursue higher education in Germany and every year the number of international students increases. As per 2013-14 Federal Statistical Office data, 300,000 international students (11% of the total number of students) were studying in Germany.
• Germany is one of the top 20 countries in terms of demand for MBA graduates, and it also offers one of the top ten highest post-MBA salaries.
• There are little to no tuition fees that need to be paid to pursue an MBA in Germany.
• Along with lucrative salaries, German workers enjoy a perfect worklife balance and a reasonable cost of living, which is low compared to other European countries.
• Gaining hands-on experience in the form of an internship is mandatory for German MBA programs.
• Numerous scholarships are available for international applicants especially from DAAD and other universities.
Prerequisites for Enrolment:
These criteria differ for every program and university:
• An undergraduate/bachelor’s degree from a well-recognized, accredited university is a prerequisite.
• Many programs also require candidates with professional experience of an average of3 years.
• Applicants need to submit recommendation letters, a statement of purpose/cover letter, essays and a detailed resume. Many programs also require the applicant to submit a videoessay.
• Most Business and Management programs require The Graduate Management Admission Test (GMAT). A good GMAT score is a prerequisite to gain admission to a high-ranking Bschool in Germany. However, some MBA programs also grant admission without a GMAT score but require strong and relevant work experience.
Cost and Expenses:
The average tuition and living expenses range between Euro 45,000 55,000 and various scholarships are also available.
What are the English Language Requirements?
Most of the MBA programs are offered in English and they require IELTS (minimum 7/9 bands) or Toefl iBT (minimum 90/120) scores to gain admission.
What are the Top BSchools in Germany?
The top 10 German BSchools are:
• Frankfurt School of Finance & Management
• Mannheim Business School (MBS)
• WHU – Otto Beisheim Graduate School of Management
• Hochschule Bremen – International Graduate Centre (IGC)
• EBS Business School
• Hochschule für Wirtschaft und Recht Berlin (HWR) – Berlin School of Economics and Law
• Dresden International University (DIU)
• Munich Business School
• HHL Leipzig Graduate School of Management
• Hochschule Esslingen – Esslingen University of Applied Sciences
Students should begin the visa application process for procuring a Student Visa at least three months before the start of their program. To do so, they must contact the local German embassy or the German consulate. The following documents need to be submitted:
• Completed application form
• Valid passport with two passportsized photographs
• Admission Letter from the German university
• Financial documents, showcasing enough funds to cover academic and living expenses
• Health insurance
Students can work both on and off campus. Students are allowed to work 120 full days each year or 240 half days on a Student Visa. For on campus jobs such as Research Assistant, students may exceed the allocated number of working hours. However, immigration authorities need to be informed about any changes in working hours.
What are Prospective Career Opportunities?
• After completing an MBA program, students can work in Germany for 18 months.
• The German job market is diverse, and after an MBA, candidates can be hired by consulting firms, IT companies and financial organizations. Germany is one of the best countries for MBA graduates to venture out and explore profitable job opportunities.
• In terms of salary for MBA graduates, Germany ranks 7th globally. For example, an MBA graduate from Mannheim Business School draws an annual mean salary of Euro 95,000.
The Duration of the Course:
German MBA programs last from 12 to 18 months.
What are the Deadlines?
The deadline to apply to German MBA programs for the fall intake is from October – March.