Master of Finance in Germany: A Complete Guide

Master of finance in Germany is a 2-year course offered by state-sponsored universities and private universities. The top universities for pursuing a master degree in finance are Germany. Students must have a bachelor’s degree in finance or relevant subjects such as economics to apply for masters in finance in German universities.

In this article, let us look at:

  1. Why Study Finance in Germany?
  2. Top Universities
  3. Course Context
  4. Admission Process
  5. Cost of Studying Master of Finance in Germany
  6. Scholarships
  7. Jobs Opportunities

1. Why Study Finance in Germany?

Cost of studying is the first thing to strike the mind of a student . It is also important for people who want to study in other countries. So here is the one line explanation that Germany has a ‘No tuition fee’ policy and apparently it is the most important factor to study in Germany. Germany’s cost of living is also very low.

As a popular destination for the best universities, Germany provides a profusion of advantages. Some most attractive are discussed below:

  • As per the QS world ranking 6 out of 100 universities in the world are in Germany
  • The jobs after masters in finance in Germany are highly paid. The average salary is 2500 Euros per month which is almost 5 times more than India for the same profile.
  • Being the 4th largest economy, Germany has a developed market and thus it generates a number of jobs in the finance sector.
  • The students who avail of the education loan enjoy a flexible repayment system. The government of Germany provides 5 years after completing the degree to repay the loan amount.

2. Top Universities

UniversityRanking(as per QS World Rankings 2020)Courses offeredDuration of courseCourse Fee Per Semester (In Euros)
Technical University Munich, Munich55M.Sc in Mathematical finance and actuarial science2 years129
Free University Of Berlin, Berlin130M.Sc in finance, Accounting and Taxation2 years130
Goethe University Frankfurts291M.Sc in Money & Finance2 years140
M.A in Finance2 years
University Of Kaiserslautern, Rhineland, Palatinate301-350M.Sc in Finance and insurance mathematics2 years160
Johannes Gutenberg University Of Mainz410M.Sc in Accounting & Finance2 years5000
University In Kiel478M.Sc in Quantitative Finance2 years150
University Of Duisburg-essen, Duisburg601-650M.Sc Business Administration- Energy & Finance2 years4200
Philipps University, Marburg651-700M.Sc in Quantitative Accounting & Finance2 years130

3. Course Context

Master of Finance is basically the study of finance and the financial structure of the corporate sector. Specifically, Master of Finance deals with the questions of how an individual, company or government acquires the money needed (capital) in the company context and how they then spend or invest that money. This course is all about managing large amounts of money.

4. Admission Process

Where to Apply: Application for admission can be made directly to the college website. Also, there is a centralized admission portal for the international students which is operated by the German Academic Exchange Services (DAAD) known as uni-assist, but it is not applicable in all the universities.

Intake Season: The admission process occurs twice a year i.e. winter and summer semesters in July and October respectively.


  • Bachelor’s degree in finance or related field
  • GRE test score
  • Proof of English proficiency

Proof of English Proficiency

Minimum score requirement for some universities is provided below:

CollegesMinimum TOEFL Score RequiredMinimum IELTS Score Required
Technical University Munich, Munich886.5
Freie University Of Berlin, Berlin805.0
ULM University, ULM957.0
Paderborn University, Paderborn806.0
University Of Philipps, Marburg856.0
University Of Kaiserslautern, Rhineland796.0
Goethe University Frankfurts856.0
University In Kiel796.5
Johannes Gutenberg University Of Mainz807.0
University Of Duisburg-Essen, Duisburg1006.5

5. Cost of Studying Master of Finance in Germany

In Germany, the cost of living is relatively less than in most of the European Union countries. Public transport is the best suitable option in Germany for the students. The most of the international students choose student accommodation as it is the cheapest option.

Pre-arrival Cost

Type of ExpenseCost (in EUR)
German Student Visa75
IELTS Fee229 – 233
TOEFL Fee228
Airfare250 -600

Cost of Living

Type of ExpenseMonthly Cost (in EUR)
Student residence250-300
House Rent300-500

6. Scholarships

Some of the scholarships are provided below:

Scholarship ProgramEligibility CriteriaStipend Paid Per Month (In Euros)
DAADGraduation with above-average results(top 30%)800-1500
Heinrich BollBoth undergraduates and postgraduates can apply800-1200
Development Related Postgraduate CoursesGraduation with minimum work experience of two years750

7. Jobs Opportunities

Job RolesJob DescriptionAverage Annual Salary (In EUR)
Financial AnalystCollecting and analyzing financial data, studying market trends.48,000
Investment BankerProviding assistance to clients for mergers and acquisitions, helping them to raise capital67,000
Financial ExaminerEnsuring the working of financial institutions with respect to laws and regulations60,000
Financial AdvisorAdvising clients on issues of investments, taxes, insurance, etc.41,000
Finance ManagerMonitoring accounts and reviewing the financial reports63,000
ActuaryAssessing the probability of financial issues and repercussions67,000
AccountantCompilation and analysis of account information that is required to prepare various reports39,000
TraderExecution of trades in stocks, debentures or commodity56,000
Insurance SpecialistDecoding the complex insurance laws and policies, advising clients on issues about insurance28,000


It is a premium course for those who wish to move quickly up the career ladder. It is a sector that is needed for all kinds of corporate as well as non-corporate fields. Students can earn a average salary of 49,000 EUR per annum in Germany after the end of this course. Course fees vary from 129 EUR to up to 5,000 EUR per semester.

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