EdMIUMMaster 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:
- Why Study Finance in Germany?
- Top Universities
- Course Context
- Admission Process
- Cost of Studying Master of Finance in Germany
- Scholarships
- 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
| University | Ranking(as per QS World Rankings 2020) | Courses offered | Duration of course | Course Fee Per Semester (In Euros) |
| Technical University Munich, Munich | 55 | M.Sc in Mathematical finance and actuarial science | 2 years | 129 |
| Free University Of Berlin, Berlin | 130 | M.Sc in finance, Accounting and Taxation | 2 years | 130 |
| Goethe University Frankfurts | 291 | M.Sc in Money & Finance | 2 years | 140 |
| M.A in Finance | 2 years | |||
| University Of Kaiserslautern, Rhineland, Palatinate | 301-350 | M.Sc in Finance and insurance mathematics | 2 years | 160 |
| Johannes Gutenberg University Of Mainz | 410 | M.Sc in Accounting & Finance | 2 years | 5000 |
| University In Kiel | 478 | M.Sc in Quantitative Finance | 2 years | 150 |
| University Of Duisburg-essen, Duisburg | 601-650 | M.Sc Business Administration- Energy & Finance | 2 years | 4200 |
| Philipps University, Marburg | 651-700 | M.Sc in Quantitative Accounting & Finance | 2 years | 130 |
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.
Eligibility
- 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:
| Colleges | Minimum TOEFL Score Required | Minimum IELTS Score Required |
| Technical University Munich, Munich | 88 | 6.5 |
| Freie University Of Berlin, Berlin | 80 | 5.0 |
| ULM University, ULM | 95 | 7.0 |
| Paderborn University, Paderborn | 80 | 6.0 |
| University Of Philipps, Marburg | 85 | 6.0 |
| University Of Kaiserslautern, Rhineland | 79 | 6.0 |
| Goethe University Frankfurts | 85 | 6.0 |
| University In Kiel | 79 | 6.5 |
| Johannes Gutenberg University Of Mainz | 80 | 7.0 |
| University Of Duisburg-Essen, Duisburg | 100 | 6.5 |
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
Cost of Living
| Type of Expense | Monthly Cost (in EUR) |
| Student residence | 250-300 |
| House Rent | 300-500 |
| Food | 500-600 |
| Traveling | 300-350 |
6. Scholarships
Some of the scholarships are provided below:
| Scholarship Program | Eligibility Criteria | Stipend Paid Per Month (In Euros) |
| DAAD | Graduation with above-average results(top 30%) | 800-1500 |
| Heinrich Boll | Both undergraduates and postgraduates can apply | 800-1200 |
| Development Related Postgraduate Courses | Graduation with minimum work experience of two years | 750 |
7. Jobs Opportunities
| Job Roles | Job Description | Average Annual Salary (In EUR) |
| Financial Analyst | Collecting and analyzing financial data, studying market trends. | 48,000 |
| Investment Banker | Providing assistance to clients for mergers and acquisitions, helping them to raise capital | 67,000 |
| Financial Examiner | Ensuring the working of financial institutions with respect to laws and regulations | 60,000 |
| Financial Advisor | Advising clients on issues of investments, taxes, insurance, etc. | 41,000 |
| Finance Manager | Monitoring accounts and reviewing the financial reports | 63,000 |
| Actuary | Assessing the probability of financial issues and repercussions | 67,000 |
| Accountant | Compilation and analysis of account information that is required to prepare various reports | 39,000 |
| Trader | Execution of trades in stocks, debentures or commodity | 56,000 |
| Insurance Specialist | Decoding the complex insurance laws and policies, advising clients on issues about insurance | 28,000 |
Conclusion
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.
Also Read
- Masters in Supply Chain Management in Australia: An Easy Guide
- Masters in Finance in Australia: An Informative Guide
