Renowned as the “Land of Poets and Thinkers”, Germany has always been at the forefront of imparting quality education and has nurtured some of the best innovative and greatest minds. A world-class study destination, it is a popular choice amongst international students planning to pursue best-in-class education at affordable costs. Home to many top-ranked academic institutions, Germany offers a varied range of quality academic programmes in almost every field of study. For those planning to pursue an MBA degree abroad, Germany needs to be at the top of your list! This blog aims to provide you with all the key details you need to know about the cost of MBA in Germany as well as the country’s top business schools you must consider.
Must Read: Free Education in Germany
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Why Study MBA in Germany?
When it comes to studying in Germany, the country’s academic institutions have enticing and beneficial propositions to offer to international students. Studying a globally acclaimed degree like MBA in Germany can be advantageous for various reasons. The country has a methodical and coherent education system which emphasises more on practical learning as compared to theoretical education. Before moving on to the cost of MBA in Germany, let’s first explore the key factors that make it a wise decision to study a Masters of Business Administration at a German university:
- Studying an MBA in Germany allows one to receive a globally recognized degree which is very oft highly valued by employers. Pursuing a global master’s degree from a German academic institution, you can avail the best industrial exposure and networking opportunities to steer towards your dream career.
- Amongst the world’s top study destinations, Germany provides a wide range of well-curated specializations spread across fields like International Business, etc. for its MBA courses. The curriculum for a specialised MBA in Germany is impeccable and innovatively conceptualised.
- The affordable cost of MBA in Germany is also one of the major factors that make it an even more alluring study destination as it is substantially economical as compared to various other global educational hotspots. With nominal tuition fees and affordable accommodation, financial restraint while studying an MBA there can be efficiently managed.
- Germany is home to many globally acclaimed brands like Adidas, BMW, Mercedes Benz, Bosch, Siemens, etc. thus offering immense career opportunities for those completing their MBA in the country.
Top Universities for MBA in Germany
Along with the economical cost of MBA in Germany, the country’s academic institutions are also a greater factor that attracts international students from around the world. There are various German universities offering MBA programs in Germany with an array of specialisations to explore. Choosing the right university can be disconcerting therefore we have listed down the best universities in Germany providing top MBA programs:
- EU Business School, Munich
- Gisma Business School
- WHU Otto Beisheim School of Management
- IUBH University of Applied Sciences
- International Graduate Center, University of Bremen
- Technical University of Munich
- Frankfurt School of Finance and Management
- Mannheim Business School
Cost of Studying MBA in Germany
The cost of MBA in Germany is quite economical thus making it a preferred study destination to opt for. Understanding the cost of studying MBA in Germany is a multifaceted process as there are various considerations to be taken into account. Further, as the public universities in Germany offer programs at no tuition fee with minimal administrative costs, you will be required to submit the course fees if you are pursuing an MBA from a private university in Germany. The following section elaborates on the cost of MBA in Germany considering both public and private universities in the country:
Public universities in Germany don’t charge any tuition fees from national and international students. These universities believe that everyone is entitled to the right to education. But these universities charge an administrative or semester fee from its students which is substantially low and costs around 111-275 EUR (roughly 9600-23780 INR) per semester. Also, the tuition fees for those master’s courses in Germany are exempted which are consecutive degrees, i.e. the student is pursuing the master’s program after completing bachelor’s at the same university. For those pursuing an MBA or related master’s degree in Management as a non-consecutive course at a public university, the average cost can be somewhere around 3 Lakhs to 25 Lakhs. Since these are only indicative costs, students are advised to check the official website of their chosen university to know the actual cost of the MBA course.
Private Universities of Germany charge tuition fees for all their prospective programs, unlike public institutions which are funded by the government. Most international students apply for these universities since they have simpler eligibility criteria as compared to public ones. Like any other world-class universities in the country, these institutions serve to provide the best curriculum for MBA programs. These universities also offer specialized MBA programs thus students have a lot of options to choose from. The cost of MBA in Germany at private universities varies across courses and institutions and the average cost of an MBA program at such institution can be somewhere around 30,000 EUR-50,000 EUR (roughly 25,93,700 INR-43,22,800 INR) for full-time MBA and ranging averagely at 90,000 EUR (roughly 77,80,960 INR) for executive MBAs.
To know more, read our blog on Cost of Studying in Germany!
Living Costs in Germany
Along with the cost of MBA in Germany, you must also consider the living costs ranging from accommodation to food and entertainment and other miscellaneous expenses. Rent would constitute a major portion of living costs if you are not opting for on-campus accommodation. Rent for international students would approximately cost around 750 EUR (roughly 64,900 INR) to even up to 5300 EUR (roughly 458,300 INR) per month according to Numbeo and these costs can vary based on the location of the accommodation. Along with this, other related expenses on a monthly basis are enlisted below:
|Type of Expense||Indicative Costs (subject to differ)|
|Food||168 EUR (roughly 15530 INR)|
|Transportation||94 EUR (roughly 16780 INR)|
|Utilities||150 EUR (roughly 13000 INR)|
|Miscellaneous||140 EUR (roughly 12,200 INR)|
Cost of German Student Visa
Students wishing to study in Germany have another additional cost which forms a part of the total cost of studying MBA in Germany. It is a mandatory payment that international students need to provide and the German student visa application fee can cost around 75-80 euros (6500 INR-7300 INR).
Note: The costs mentioned above are only for indicative purposes and are subject to change based on the university, course or location of residence.
Is MBA in Germany free?
MBA is only free in Public universities of Germany. Private universities and independent B-schools charge a usual fee for the MBA course in Germany. The cost of pursuing MBA in Germany would depend on the kind of university you pick.
Is MBA in Germany Good?
Yes, an MBA in Germany is a great option for Indian students. The overall cost of studying is affordable in comparison with other study abroad options for an Indian student. Candidates get exposure to global markets, a chance to expand their network and build a great career ahead.
Which country is cheapest for MBA?
Germany is surely on the list of cheapest countries for MBA as it offers affordable education to students. Apart from the studying expenses, there are scholarships available for students along with opportunities to work part time to manage finances.
Which university is best for MBA in Germany?
Following are the best options for MBA in Germany:
Mannheim Business School
Frankfurt School of Finance and Management
WHU- Otto Beisheim School of Management
European School of Management and Technology (ESMT)
HHL Leipzig Graduate School of Management
If you want to know more about the MBA options in Germany, read our blog on best MBA universities in Germany!
Thus, the cost of MBA in Germany can be quite perturbing if a person is unaware of the different expenses that can incur. We hope that this blog familiarised you with the major costs and other factors pertaining to the expenses for pursuing an MBA in Germany. The dream of studying at your chosen university is possible only when you get through the cumbersome process of sorting out funds, application process and other things. Our Leverage Edu experts can lend you a helping hand in finding the best scholarships and education loans to fund your chosen course along with guiding you throughout the admission process. Sign up for an e-meeting with us today!