Germany is the third most popular destination among international students which considering its economic stability, diversity and quality of life come across as no surprise. Further, a Masters in management degree from Germany is highly respected by employers worldwide and would significantly increase your employment chances in your desired field.
With many prestigious German universities such as the University of Mannheim, WHU, and HHL Leipzig Graduate School of Management offering Master in Mangement coupled with Germany’s reputation in higher education, Masters in Management in Germany will surely set you on the right path to your dream career.
Cost of Living
Compared to other European countries where the cost of living can be daunting, the cost of living in Germany is quite reasonable (well… by European standard). With 850 Euros a month, you’ll be set.
Although the most sizeable expense is going to be your monthly rent varying between €320 and €545 with options ranging from single rooms to apartments. We would recommend you to take a room in a student hall of residence or shared flat to cut-down on your expenses and live more economically.
Further, as a student, with your student ID, you will be eligible to various concessions such as a discount on entry fees to theatres, cinemas, opera houses, museums, public swimming pools, and other similar venues.
Student Visa Requirements
If you are heading to Germany to study for more than three months, then it’s necessary that you apply for Student Visa at least three months before you move there. After arriving in Germany, within two weeks of living there, you will be required to apply for Residence Permit and register with the local registration office.
If you are planning to work in Germany afterward, then as an international student with a residence permit, you can extend your Visa to stay in Germany for 18 months after graduating while which you can seek work related to your field of study.
EU/EEA countries graduates are allowed to stay in Germany and seek work without any restrictions or permits.
Once you have completed your 2 years of employment in Germany, you can apply for permanent residency status.
Working with a Student Visa
While it is legal to work in Germany with a student visa, there are restrictions on the number of days you can work.
As a non-EU/EEA students, either you can work 120 full days a year or 240 half days per year while EU/EEA students, much like German students, can work up to 20 hours per week while studying.
If you take a job as a student assistant at your university, this is usually not counted in your limit while if you take an internship during your semester break, it would be regarded as normal work (which means that every day of internship will be deducted from your 120-day limit) even if you are not being paid any stipend. Although, mandatory internships will not count.
Lastly, non-EU students are not allowed to be self-employed or work as a freelancer.
Scholarships Offered to Study in Germany
As an international student, you should definitely check out the various scholarships offered by the German Academic Exchange Service (DAAD) at several degree levels.
If you have been looking into scholarships in EU, undoubtedly, you must have come across Erasmus+, the largest provider of student scholarships in the EU. It funds the international students to study in Europe and even provides grants towards living costs for Europe exchange program participants.
Non-Government Funded Scholarships
For this merit-based scholarship, your nationality and personal income are not considered, and, only…well, merit is considered. This €300 per month scholarship is available to impressively meritorious students enrolled at German Universities.
University Specific Scholarships
HHL International MSc Scholarship for Effective and Responsible Leadership
As the name suggests this scholarship is for students who want to MSc programs (including MSc in Management) at HHL.
Top Universities in Germany for MiM
University of Mannheim
FT Ranking – 14
Program Name – Mannheim Master in Management
Duration – 24 months
Weighted Salary(US$) – US$ 89,425
About the program: As one of the most renowned business schools in Germany, at Mannheim, you will enjoy the international study atmosphere and profit from the practical orientation and extensive partner network. The program offers 6 specializations: Accounting & Taxation, Finance, Information Systems, Management, Marketing, Operations Management with various other electives, the students are free to choose courses independently according to their goals. You can also choose a double degree program or study a semester abroad.
WHU – Otto Beisheim School of Management
FT Ranking – 16
Program Name – MSc in Management
Duration – 17 or 21 months
Weighted Salary(US$) – US$ 101,304
About the program:
The course is targeted towards business bachelor graduates and has two available tracks: 90 credits or 120 credits, lasting 17 or 21 months respectively.
While the 90 credit track includes a one-week international module and the capstone module, in the 120 credit track you will spend your third semester in either the Master or MBA program at one of their 200 partner universities.
In addition to international modules, internship, and thesis, you will also have the opportunity to take part in various student programs and career center organized events, conferences, and incubators, such as IdeaLab!, Career Day, Sensibility, Euromasters, and many more.
Frankfurt School of Finance and Management
FT Ranking – 28
Program Name – Master in Management
Duration – 24 months
Weighted Salary(US$) – US$ 93,060
About the program:
The curriculum is carefully structured to combine academic expertise with practical relevance and offers six concentrations: Digital Business, International Business, Technology & Operations, Marketing, Strategy & Organisation, Business Analytics Further, the flexible programme structure allows part-time employment with their 3-day Model, and has many international opportunities including exchange programme at one of their 80 partner universities.
Here’s a list of some schools who provides Masters in Management program in Germany
|S.No||University Name||Program Name|
|1.||Münster School of Business Administration and Economics||Master in Economics
|2.||Humboldt University Berlin Business School||Master's Program in Economics and Management Science
|3.||Leipzig Graduate School of Management||Master in Management (MSc)
|4.||Ludwig-Maximilian-University Munich School of Management||Master of Science (M.Sc.) in Management - European Triple Degree (ETD)|
|5.||Berlin School of Economics||Master of Science (M.Sc.) International Management|
|6.||Universität Duisburg Essen, Mercator School of Management, Faculty of Business Administration||Master of Science (M.Sc.) in Business Administration|
|7.||European School of Management and Technology||Master in Management|
|8.||University of Cologne Faculty of Management, Economics and Social Sciences||Master of Science (M.Sc.) International Management|
|9.||University of Leipzig, Faculty of Economics and Management||MSc in International Management|
|10 .||Münich Business School||Master in International Business
|11.||International School of Management Frankfurt||M.Sc. International Management
|12.||Gisma Business School||Master in International Business (MIB)
|13.||Universität Bayreuth, Wirtschaftswissenschaftliche Fakultät||International Business and Economics M.Sc.
|14.||Heilbronn Business School||Master in Finance
|15.||Ulm University||Master of Science in Management
|16.||Nuremberg Institute of Technology||Master of Science in International Finance and Economics
|17.||Technische Universität München||Master of Science in Management
|18.||Paderborn University||Master of Science in International Economics and Management
|19.||Goethe University Frankfurt||Master in International Management
|20.||Furtwangen University||Master of Science in International Management