Masters of Management in Germany

In Germany, a Masters in Management program that lasts 1.5 to two years is available to students who have previous work experience in the industry. GMAT scores are not required, but they are strongly encouraged, to be admitted to MiM courses in Germany. Additionally, several colleges need previous job experience of at least three months before admitting students. International applicants are needed to be fluent in at least one foreign language (usually English language proficiency). In contrast, the Mannheim Business School requires applicants to have a working knowledge of German, as a portion of the course is conducted in the German language.

Some of the best management institutions in Germany include the Frankfurt School of Finance and Management, the Leipzig Graduate School of Management, and several other institutions as well. German public universities do not charge any tuition fees for the education of international students pursuing higher education in Germany. Some universities, on the other hand, may need you to pay a semester fee, which can range between 300 and 3500 USD. Following a master's in management (MIM) in some of Germany's most prestigious schools would cost you between 144 and 18,000 dollars each year. A year's worth of tuition for an Indian student will range from 11,000 USD to 13.4 lakh INR. The cost of living in Germany can be as high as 63,000 Indian rupees (INR) per year.

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#Why study Masters of Management in Germany?

Germany, with more than 350,000 international students, is putting the United States, the United Kingdom, and Canada to shame in terms of international student enrollment. Students enroll in a post-graduate management course on their initiative in around 14.90 percent of cases. Listed below is a list of legitimate considerations to take into account when considering whether or not to study in Germany.

• Free education: This advantage attracts around 35 percent of international students who prefer Germany to other nations. Even yet, students must pay a minimal administrative fee per semester, as well as their relatively low living costs.
• World-class Education: Because of Germany's world-class education system and well-developed research and development facilities in public and private universities, 132,726 students have enrolled in postgraduate courses.
• Bridging the language divide: The country has addressed this issue by implementing a variety of English-language programs in its colleges. To feel at ease in a foreign place, you only need to learn the language on a basic level.
• Work while studying — While Germany provides free education, students must still cover their living expenses, which can be costly. For this reason, overseas students are granted work permits in Germany so that they can work part-time while studying. Working hours are restricted to 120 full days or 240 half days per year. Anything beyond that necessitates permission from the employment agencies. A student can earn up to USD 508.59 each month (5.65 USD to 16.96 USD per day).
• Universitat Mannheim Business School, Berlin School of Economics, Frankfurt School of Finance and Management, Leipzig Graduate School of Management, and WHU Otto Beisheim School of Management are some of Germany's top management schools.
• Master of Management is a premium postgraduate program, and completing it at one of the world's most prestigious universities will propel you to the pinnacle of your profession.
• Most lucrative degrees: A Master of Management student in Germany might earn up to 118,000 USD per year.

#Top Universities

Masters of management programs are offered at several universities throughout Germany. According to the QS News Ranking for Master in Management for 2022, the following are the best universities in Germany that provide Master in Management courses:

In addition to the degrees indicated above, you may be able to locate a variety of dual-degree programs in Germany that will grant you a postgraduate degree in management. Institutes such as PFH Private University of Applied Science offer dual degree programs in collaboration with other institutions such as Iona College, Kedge Business School, and others. Degrees in management are available in a variety of specializations, including digital marketing management, engineering management, and project management, among others. Other management-related degrees, such as an MBA in Germany, an international business degree in Germany, and others, are available to you.

#Admissions

To acquire admission with any of the German colleges offering masters of management applicants must complete certain specified eligibility criteria, submit related papers, and attend interviews (if required). Discussed below are the details for applying to German universities:

Some of the general conditions that you must fulfill include:

• A bachelor's degree ideally in management-related discipline and relevant job experience is necessary to apply for a Master of Management in Germany.

• Passport, valid till the last day of your stay in Germany.

• Scores of tests required to study in Germany, such as English and German language competency.

• Personal essays.

• A photocopy of the passport.

• Proof of job experience.

• Transcripts of higher education.

#Eligibility

If you want to pursue a Master of Management degree in Germany, you must meet all of the requirements listed above.

• You must have completed 16 years of postsecondary study from a recognized institution to be considered.
  • In Germany, every institution requires you to have a bachelor's degree in a relevant field to be admitted.
  • If you have a bachelor's degree in a field that is not connected to your field of study, the minimum work experience requirements are enhanced.
• Three years of experience in a similar field after graduation.

#GMAT requirement

Only a few colleges in Germany offer Masters in Management programs that need a GMAT score. The following is the bare minimum possible score:

#Work experience requirement

Work experience is a significant factor in gaining admission to German colleges for Masters in Management programs. The following is a list of the minimum requirements for prestigious universities:

#IELTS requirement

Students from other countries are needed to submit IELTS or TOEFL test scores to verify their ability in the English language. The following is a list of the bare minimum requirements:

#Student visa

Germany is the world's second most well-known migration destination, after the United States. When all of the necessary papers is submitted correctly, the process for obtaining a student visa in Germany is a piece of cake.

Students can only apply for a visa when they have obtained an acceptance letter from the university, or anything equivalent to that letter. Despite the fact that students can apply for a variety of different types of visas, a basic student visa requires the following documentation:

• A valid passport is required.
• Two photographs were taken recently.
• An acceptance letter or any other kind of proof of admission is required.
• Transcripts from high school that are official.
• Evidence of one's financial well-being.
• Health insurance is a need.
• a receipt proving the payment of the visa application fee
• Evidence of fluency in the English language (TOEFL, IELTS).
• Demonstration of German language proficiency (optional if a student is not pursuing language or mixed language studies)

#Cost of studying

Even though tuition is almost non-existent, students are nevertheless responsible for the costs of living in Germany, which include housing, social activities,  transportation, and a reasonable administration charge per semester. Included in the cost of living are administration costs that can range from 1000 to 1530 USD every month.

Pre-arrival expenses

Your pre-arrival expenses include the money spent on application fees, the many exams required to study in Germany, visa costs, and other related expenses. The following are the specifics of the situation:

#Tuition fees

Some German universities do not charge any tuition fees, and some do. International students, on the other hand, are only obliged to pay a small sum as semester fees. The projected costs that you will be required to pay in order to study at one of the popular German universities that offer master's degrees in management are listed below:

At TUM, the total cost of the degree is kept to a bare minimum. Depending on the entire program fees at various universities in Germany, an Indian student may incur a range of charges ranging from approximately 22,000 INR to 27 Lakhs.

#Cost of living

The cost is determined by the city in which you live, the mode of transportation you use, and the type of lifestyle you have adopted. As an example, consider the following simple breakdown of the entire spending for the month:

#Scholarships

Even though you are pursuing your higher education under a tuition-free system, you will be forced to pay an administrative fee per semester. Between the student's financial ability and their needs, the government and private institutions fill the gap left by the government and private organizations.

The scholarship for international students in Germany ranges from 172 USD to 943 USD per month, depending on their country of residence. The country attracts 350,000 international students from all over the world because it provides a wide range of merit-based and need-based scholarships, grants, and other financial aid to students of different academic backgrounds. For students seeking a master's degree in management, the following financial assistance is available:

#Scholarships provided by the government:

• Germany's academic exchange agency (DAAD) is well-known for providing financial assistance to more than 100,000 German and international students pursuing various degrees in the country. It provides about 215 scholarship possibilities and other sorts of financial assistance. Scholarships are awarded to students in recognition of their study, education, and assignment work.
• Graduate students with good academic achievement and two years of work experience are eligible to apply for this award for development-related postgraduate courses (EPOS). The amount of money granted is around 840 US dollars (USD).
• German students receive an average of 315 USD per month through the Erasmus+ scholarship program, which is administered by the European Union mission in their country.

#Scholarships for Master's Degrees in Management at German Universities:

• University of Hawai'i at Otto Business School: A WHU merit award is available to students who have GMAT scores more than 700. The amount of the award awarded varies.
• ESMT Berlin: A scholarship worth 5880 USD (number of scholarships available: 4) is available to students who have a GMAT score of 700 or higher.
• HHL Leipzig: HHL Woman in Business- 5880 USD is a scholarship available to female students participating in MSc Management programs at the HHL Leipzig.

#General scholarship requirements

• There are no restrictions based on age.
• A student can apply at any point during the academic year preceding the end of the university degree program.
• The scholarships are only accessible to students who are enrolled full-time.
• Students may be required to submit language proficiency certificates.

#Career prospects

Germany has maintained a commendable unemployment rate of 2.3 percent for the past several years. Almost 62 percent of Germany's 350,000 international students prefer to remain in the country after completing their studies. Masters in management graduates are hired by corporations to fill positions such as analysts, project managers, and managers, among other positions. Graduates of Master's in Management programs in Germany earn an average salary of 105,000 Euros per year, demonstrating a decent return on investment.

Master of Management, graduates are typically recruited in the sector of finance, with 37 percent working in finance and 24 percent working in finance. In Germany, a student pursuing a Master of Management degree can earn up to 96,000 Euros per year after graduation. German management graduates from prestigious universities were offered wages ranging from 77,000 Euros per year to 137,000 Euros a year. Following are some of the most sought-after management positions in Germany after completing your degree:

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