Masters in Management in Germany is a 1.5-2 year-long program offered to students with previous experience in the field. Some of the best management institutions of Germany include the Frankfurt School of Finance and Management, Leipzig Graduate School of Management, and many more. Here, we shall discuss the fee structure for MIM in Germany.
For getting into MIM courses in Germany, GMAT scores are not mandatory but are preferred. Additionally, some universities ask for prior work experience of at least three months. International applicants are required to have language proficiency (usually English language proficiency). However, Mannheim Business School asks applicants for German language proficiency as some of the course is conducted in the German language.
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Why Study Masters in Management in Germany?
Germany gives a cut-throat competition to countries like the USA, UK and Canada. Approximately 14.90% of students enrol themselves for a post-graduation management course.
Here are few reasons you should consider pursuing MIM from Germany:
- Cost-free education
- Value of the degree
- Courses provided in the English language
- Work while you study
- Highest paying degree (MIM)
Masters in Management in Germany: Highlights
Here are some critical details of MIM from Germany.
|No. of Universities||6|
|Tuition Fees||300-3500 USD/per semester|
|Eligibility||Bachelor’s degree in relevant field; GMAT score above 600|
|English Proficiency Requirement||IELTS: 6.5; TOEFL (iBT): 90|
|Salary Offered||90,000 USD to 160,000 USD per annum|
Fee structure for MIM from Germany
Public and private institutions have a different fee structure for the same course. Public or state-funded universities do not charge any fee except for an administrative fee every semester.
Private universities charge a tuition fee. The below table mentions the price for some of the top universities for MIM in Germany.
|University||Fees in INR|
|Mannheim Business School||4.8 lakhs|
|Frankfurt School of Finance & Management||26.44 lakhs|
|ESMT, Berlin||23.53 lakhs|
The cost of the complete degree is minimum at TUM. A broad range of expenses that an Indian student may need depending on the total program fees at various universities in Germany is around 22,000 INR to 27 Lakhs.
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Cost of Living in Germany
The price depends on the city you live in, transportation, and the kind of lifestyle you have adapted. A primary division of the total expense of the month will be somewhat like this:
|Type of Expense||Cost (USD)|
|Food and Drink||190|
|Working or Learning Materials||23|
|Phone, Internet, Tv||35|
Masters in Management in Germany with Scholarships
Despite following a tuition-free higher education system, you will be required to pay an administrative cost per semester. The government and private institutions bridge the deficit gap between the student’s financial ability and their needs.
The scholarship for international students in Germany ranges from 172 USD to 943 USD per month. Germany attracts 350,000 international students from all over the world for offering its students merit-based and need-based scholarships, grants, and other financial aids. Some of the financial aids available for those pursuing masters in Management are:
- DAAD: The German academic exchange service is famous for granting aid to more than 100,000 German and international students pursuing various degrees. It offers almost 215 scholarship opportunities and other forms of aids. The students receive scholarships for their research work, education, and assignments.
- Development-related postgraduate courses (EPOS): This scholarship is available for graduate students with outstanding academic performance and two years of work experience. The amount awarded is approximately 840 USD.
- Erasmus+: This scholarship program is conducted by the European mission, providing German students with an average of 315 USD per month.
University Scholarships for Masters in Management in Germany
- WHU-Otto Business School: WHU merit scholarship is offered to students with GMAT scores above 700. The award offered varies.
- ESMT Berlin: 5880 USD (number of scholarships offered-4) is offered to students with a 700+ GMAT score.
- HHL Leipzig: HHL Woman in Business- 5880 USD is offered to women students enrolled in MSc Management programs.
Jobs after Master in Management in Germany
Germany has achieved to maintain the unemployment at 2.3%. Management graduates from top institutes in Germany were offered salaries ranging from 90,000 USD to 160,000 USD annually. Given below are some of the popular jobs in Germany after graduating in management:
|Designation||Avg. Annual Salary (USD)|
|Project Development Manager||187,530|
|Business Development Manager||208,000|
We have answered some questions for your help.
Q1. What is the cost of studying Masters of Management in Germany?
Ans. The tuition fee for Masters in Management in Germany ranges from 144 USD to 18000 USD per year. Some universities do not charge tuition fees but ask for semester fees from international students.
Q2. Is GMAT score mandatory for Masters of Management in Germany?
Ans. GMAT is not mandatory for pursuing a master’s in management in Germany.
Q3. What are the basic eligibility requirements for Masters of Management in Germany?
Ans. To be eligible for the master’s in management in Germany, you must have 2-3 years of work experience along with a relevant bachelor’s degree. IELTS/TOEFL scores are also required for international students. IELTS-6.6, TOEFL-82 is the minimum score requirement for language proficiency. You may also need to have German language proficiency.
We truly hope we were able to resolve any queries you might have had about the fee structure for MIM in Germany.