In Germany, a master’s degree in finance is a two-year program provided by both public and private universities. Germany has the best universities for earning a master’s degree in finance. To apply for a master’s degree in finance at a German university, students must have a bachelor’s degree in finance or a related field such as economics.
Why Study Finance in Germany
When a student considers studying abroad, the first thing that comes to mind is the cost of education. So here’s the one-liner: Germany has a “no tuition cost” policy, which appears to be the most essential reason for choosing to study in Germany.
Master’s degree programs in finance are available at several German universities. In addition, the cost of living in Germany is quite inexpensive when compared to other European Union regions. Germany’s citizens have a sense of propriety. Germany’s work culture is diverse and fast-paced, making it a people-friendly country.
Germany offers a plethora of benefits as a favored destination for the greatest colleges. The following are a few of the most appealing:
- According to the QS world ranking, Germany has six of the top 100 universities in the world.
- In Germany, positions after a master’s degree in finance are well-paid. The average monthly income is 2500 Euros, roughly five times higher than in India for the same position.
- Germany, as the world’s fourth-largest economy, has a developed market and hence a large number of financial employment.
- Students who take out an education loan have a flexible payback schedule. Germany’s government gives you five years to repay the loan after you finish your degree.
Germany’s Best Master of Finance Universities
The following are some of Germany’s best master’s in finance schools:
| University | Ranking | 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 M.A in Finance | 2 years | 140 |
| 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 |
| The 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 |
Master of Finance Admissions Process in Germany
Germany’s universities are among the top 100 in the world, hence the eligibility requirements are more stringent. For international students, several exams must be passed to be considered for admission.
Where to Apply: Admissions applications can be submitted directly through the college’s website. There is also a centralized admission site for international students called uni-assist, which is run by the German Academic Exchange Services (DAAD), however, it is not available at all universities.
Intake Season: The admissions procedure takes place twice a year, in July and October for the winter and summer semesters, respectively.
Eligibility for Master of Finance Admission in Germany
- Bachelor’s degree in finance or related field
- GRE test score
- Proof of English proficiency
Proof of English Proficiency
If the course is taught entirely in English, students must pass an English proficiency exam.
IELTS or TOEFL.
The following are the minimum score requirements for several universities:
| 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, the Paderborn | 80 | 6.0 |
| University Of Philipps, Marburg | 85 | 6.0 |
| The 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 |
| The University Of Duisburg-Essen, Duisburg | 100 | 6.5 |
Masters in Finance in Germany: Specialization
Candidates interested in pursuing a Masters in Finance concentration would be able to choose from one or more focus areas and build their research projects. Some of the finance specializations listed below could be taught as a stand-alone course or as part of a larger financial education program.
| Asset Markets | Corporate Finance | Financial Markets |
| Financial Mathematics | Advanced Derivatives | Financial Management |
| Financial Engineering | Finance Research Methods | Behavioural Finance |
| Financial Econometrics | Financial Planning | Financial Reporting |
| Financial Statement Analysis | Infrastructure Finance | Management Accounting |
| Financial Accounting and Analysis | Professional Practice in Finance | Portfolio Management Methods |
| International Finance | Mergers and Acquisitions | Private Equity and Venture Capital |
| Real Estate Finance | Risk Management | Structured Financial Products |
Cost of Studying Master of Finance in Germany
In Germany, the average cost of living for students is between 8000 and 9000 Euros per year. In comparison to the rest of the European Union, Germany has a lower cost of living. In Germany, public transportation is the best option for students.
The majority of international students choose student living since it is the most cost-effective alternative. Alternatively, there is a system of interim renting, in which students who are temporarily relocating rent a room for the duration of their absence. The costs of temporary rental are about half of those of the other options.
The majority of public institutions give public transportation tickets, which are included in the administrative fees imposed by the universities.
Pre-arrival Cost
| Type of Expense | Cost (in EUR) |
| German Student Visa | 75 |
| IELTS Fee | 229 – 233 |
| TOEFL Fee | 228 |
| Airfare | 250 -600 |
Cost of Living
| Type of Expense | Monthly Cost (in EUR) |
| Student residence | 250-300 |
| House Rent | 300-500 |
| Food | 500-600 |
| Traveling | 300-350 |
Scholarships for Master of Finance in Germany
In Germany, international students can apply for a variety of awards and scholarships. The scholarship is usually offered to students as a monthly stipend, with the value ranging from 850 to 1200 Euros per month.
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 a minimum of two years of work experience. | 750 |
International students are also permitted to work for 90 full days or 180 half days during their holidays to supplement their income. The monthly salary for this job is between $60,000 and $70,000.
Jobs Opportunities after Master of Finance in Germany
In Germany, a Master of Finance is a very important course. In Germany, the average pay after earning a master’s degree in finance is 49,000 EUR per year. This is about five times the income offered in India for the identical job.
As the world’s fourth-largest economy, Germany’s labor market is brimming with options to work and make good money. After completing a master’s degree in finance, one can find work in Germany with a monthly income ranging from 2300 to 3000 euros.
Many companies come to visit the college and offer jobs just on the college campus. BMW, Audi, and Allianz Worldwide are just a few examples. Munich Re, Commerzbank, Deutsche Bank Group, Ascribe, and other financial institutions
The following are some of the most prevalent job roles:
| Job Roles | Job Description | Average Annual Salary (In EUR) |
| Financial Analyst | Obtaining and evaluating financial data, as well as researching market trends. | 48,000 |
| Investment Bankers | Assisting clients with mergers and acquisitions, helping them to raise capital | 67,000 |
| Financial Examiner | Ensuring the working of financial institutions concerning laws and regulations | 60,000 |
| Financial Advisors | Providing investment, tax, and insurance advice to customers. | 41,000 |
| Finance Manager | Monitoring accounts and reviewing the financial reports | 63,000 |
| Actuary | Considering the likelihood of financial problems and their consequences. | 67,000 |
| Accountant | Compilation and analysis of account data necessary for the preparation of various reports. | 39,000 |
| Trader | Execution of trades in stocks, debentures, or commodities | 56,000 |
| Insurance Specialist | Decoding complex insurance laws and policies, as well as providing insurance advice to clients. | 28,000 |
Students who want to advance quickly in the financial sector should get a master’s degree in finance. It is a sector that is required in both corporate and non-corporate settings. Over 20,000 Indian students are studying in Germany, with about 30% of them majoring in finance.
Conclusion
It’s a premium education for people looking to advance swiftly in their careers. It is a sector that is required in both corporate and non-corporate settings. After completing this program, students can expect to earn an average annual salary of 49,000 EUR in Germany. The cost of a course might range from 129 EUR to 5,000 EUR per semester.
