Study Abroad Content Writer at Collegedunia | Updated On - May 16, 2024
Highlights:
- Masters in finance in Germany course focuses on areas of asset markets, financial management, risk management, etc.
- An academic percentage of a minimum 70% in accounting or finance-related subjects is recommended for a Masters of finance in Germany.
- Semester fees charged in universities like Technical University of Munich, Free University of Berlin, Philipps University range around 300 EUR - 6,000 EUR.
- International candidates can get an ROI value of up to 312% after the finance degrees in Germany.
- Graduate salaries after Masters of Finance in Germany can be up to 1,20,000 EUR.
- Germany is considered 4th largest economy in the world. Its banking and finance sector possesses a workforce of around 5,00,000 people.
Masters of Finance in Germany is a 2-year course for candidates aspiring for a career in the business and finance sectors. It involves the study of asset markets, financial management, advanced derivatives, risk management, etc.
- The top universities offering a master’s degree in finance in Germany include Technical University of Munich, Free University of Berlin, Ulm University, etc.
- German Universities such as Goethe University, Free University of Berlin, University of Kiel, University of Mainz, etc are known to provide tuition-free education to their students. Only a semester fee of 300 EUR - 6000 EUR (INR 27,001.41 - 5,40,028.20) is charged.
You must be wondering about the Master in Finance in Germany requirements. To explain it in detail, let us mention some important points:
- Undergraduate degree in accounting or finance-related subjects (Minimum 70%)
- A competitive GPA score of 3.0
- IELTS score of a minimum of 6.0 - 7.0 and a TOEFL score of 70 - 90 is required.
- German Language Proficiency test scores of DSH: (Level 2) Test DaF: (Level 4), and Goethe Certificate (C2), are required.
- Work experience of 1–2 years is recommended.
One of the most important aspects of studying abroad for international students is the ROI. It is the return value after course completion. Here, we can see that the University of Kiel provides the maximum ROI, equal to 312% to candidates.
Table of Content
Why Study Masters of Finance in Germany?
German Universities are known for their affordable education to students. Three of the major reasons to study in Germany for a Master of Finance are given below:
- Affordability: This is one of the major reasons why international students prefer Germany as a study abroad destinations for a Master's degree. The majority of public universities in Germany either have low tuition fees, while others have zero tuition fees for Master's degree courses.
- Salary: Graduates with finance degrees can receive high salaries up to 1,20,000 EUR (INR 1,08,00,564)
- Unemployment rate: The rate of unemployment in Germany is less than 3.5%. As a result, a graduate can easily find different employment opportunities here.
Top Universities for Masters in Finance in Germany
The below table shows the details about Masters in Finance in Germany for international students in the top universities:
| University | Course | Deadline 2024 | Semester Fees |
|---|---|---|---|
| Technical University of Munich | Master in Finance and Information Management | May 31 | 4,000 - 6,000 EUR (INR 3,60,018.80 - 5,40,028.20) |
| Free University of Berlin | MS in Finance, Accounting and Taxation | May 31 | 4,100 EUR (INR 3,69,019.27) |
| Goethe University | MS in Money & Finance | August 31, 2024 | 390 EUR (INR 35,101.83) |
| University of Kaiserslautern | MS in Actuarial and Financial Mathematics | May 31 | 700 EUR (INR 63,03.29) |
| University of Mainz | MS in Accounting & Finance | May 15 | 350 EUR (INR 31,501.65) |
| Philipps University | M.Sc in Quantitative Accounting & Finance | August 23 | 386.09 EUR (INR 34,749.91) |
| Ulm University | M.Sc in Finance | March 15 | 1,500 EUR (INR 1,35,007.05) |
| EBS Business School | Master in Finance | August 26 | 7,950 EUR (INR 7,15,537.37) |
| University of Kiel | M.Sc in Quantitative Finance | July 15 | 277 EUR (INR 24,931.30) |
| ESCP Business School | M.Sc in Finance | April 19 | 6,500 EUR (INR 5,85,083.84) |
EUR 1 = INR 90 as on 13 May 2024
Documents Required for Admissions
Some important documents required for Masters programs in Germany for international students in finance are given below:
- All previous transcripts
- Language Proficiency test score reports (for example, IELTS or TOEFL for English; DSH for German)
- Updated Resume
- LOR
- Current Photos and Copy of Passport
- Letter of Motivation or SOP
- Bachelor's transcripts from no-EU countries must be evaluated by uni-assist
Masters of Finance in Germany Score Requirements
In Germany, you would require the scores of certain exams. These exams include IELTS, TOEFL, DSH, Test DaF, etc. You must undertake these exams to prove your English/German language proficiency for admissions. Given below are the Master in finance in Germany requirements in different exams:
| University | English Proficiency Requirements | German Language Proficiency Requirements |
|---|---|---|
| Technical University of Munich | IELTS: 6.5 TOEFL: 88 |
DSH: Level 2 Test DaF: Level 4 Goethe Certificate: C2 |
| Free University of Berlin | IELTS: 5.0 TOEFL: 80 |
DSH: Level 2 Test DaF: Level 4 TELC: C1 |
| Goethe University | IELTS: 7.0 TOEFL: 100 |
DSH: Level 2 Test DaF: Level 4 Goethe Certificate: C1 |
| University of Kaiserslautern | IELTS: 6.0 TOEFL: 80 |
Test DaF: Level 4 Deutsch C1: Official score |
| University of Mainz | IELTS: 5.5 - 6.0 TOEFL: 72 |
DSH: Level 2 Test DaF: Level 4 Goethe Certificate: C1 |
| Philipps University | IELTS: 5.0 - 6.0 TOEFL: 72 |
DSH: Level 2 Test DaF: Level 4 |
| Ulm University | IELTS: 6.5 TOEFL: 79 |
Test DaF: Level 4 Deutsch C1: Official score |
| EBS Business School | IELTS: 5.5 TOEFL: 87 |
TELC: C1 |
| University of Kiel | IELTS: 6.5 TOEFL: 90 |
DSH: Must have passed DAF: 4 TELC German C1: Must have passed |
| ESCP Business School | IELTS: 6.5 TOEFL: 79 |
DSH: Must have passed DAF: 4 TELC German C1: Must have passed |
Cost of Living in Germany
Besides the study expenses, you are also responsible for incurring expenses of accommodation, food, utilities, etc. The cost of living in Germany may vary according to the location of your residence. Given below is an estimate of the living expenses to study finance in Germany:
Finance Degree Germany Scholarships
You will be required to have good academic merit for the Master Finance Germany scholarship. Given below are the scholarship details for Master finance in Germany:
| University | Scholarship | Eligibility | Amount |
|---|---|---|---|
| Technical University of Munich | BAfoG Scholarship | Good academic records | Up to EUR 1,800 (INR 1,62,008.46) |
| Free University of Berlin | DAAD | Graduation with above-average results (top 30%) or 85% aggregate | Varies |
| Goethe University | DAAD | Awarded on a merit basis | Varies |
| University of Kaiserslautern | Merit Scholarships | Academic excellence | Varies |
| University of Mainz | International Scholarships | Excellent academic achievements in past qualifications | Varies |
| Philipps University | DAAD | Awarded on a merit basis | Varies |
| Ulm University | Stibet Scholarship | Academic achievement | Varies |
| EBS Business School | International Scholarship | Awarded on a merit basis | Varies |
| University of Kiel | Erasmus | Academic excellence | Varies |
| ESCP Business School | Academic excellence | Merit basis | Varies |
Masters of Finance in Germany: Job Opportunities
The banking and finance sector in Germany has a workforce of around 5,00,000 people. Master in finance salary in Germany on an average basis is 61,800 EUR (50.7 lakhs INR)) per year. This is almost 5 times more than the salary provided in India for the same work. As Germany is the 4th largest economy in the world, the market in Germany has a lot of opportunities to work and earn handsome money. Given below are the jobs in Germany after Masters in Finance:
| Job Roles | Average Salary |
|---|---|
| Finance Manager | 63,510 EUR (INR 57,16,198.50) |
| Investment Banker | 62,000 EUR (INR 55,80,291.40) |
| Actuary | 61,525 EUR (INR 55,37,539.17) |
| Financial Analyst | 49,144 EUR (INR 44,23,190.98) |
| Financial Advisor | 46,000 EUR (INR 41,40,216.20) |
| Accountant | 40,042 EUR (INR 36,03,968.20) |
EUR 1 = INR 90 as on 13 May 2024
To study the finance masters programs in Germany, you are also required to show proper sources of funds. It is checked by the immigration authorities to determine that you can support your stay in Germany. We recommend that you show proper documentation of bank statements to the authorities.
FAQs
Ques. What is Masters of Finance in Germany?
Ans. Masters of Finance in Germany is an ideal 2-year course for candidates aspiring for a career in the business and finance sectors. It involves the study of asset markets, financial management, advanced derivatives, risk management, etc
Ques. Is Germany good for a Masters of Finance?
Ans. Germany is indeed one of the best countries to study for a Master’s in Finance as the finance sector contributes the most to the country’s economy. Moreover, completing a Master of Science in Finance in Germany will help you earn a high-paying job with an average annual salary of up to 61,800 EUR.
Ques. How can I get admission to Germany for Masters of Finance?
Ans. To get admitted into the Master in Finance in Germany, the applicant must have completed a bachelor’s degree in finance or a relevant field. A minimum GPA of 3.0 alongside completion of an internship increase to increase his/her chances of acceptance.
Ques. Where can I study Masters of Finance in Germany?
Ans. There are various top universities in Germany offering Master of Finance degrees including Technical University Munich, Free University of Berlin, Humboldt University of Berlin, University of Cologne, Goethe University Frankfurt's, University of Kaiserslautern, etc.
Ques. Is Masters of Finance worth it?
Ans. Master of Finance in Germany is worth going if you are planning to pursue a Master’s degree in Finance abroad. Completion of this degree will open doors for a wide range of career opportunities at the international level.
Ques. What German Language Proficiency is required for admissions?
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