Management is amongst the most sought-after career fields in contemporary times. While it offers an array of career opportunities in almost every sector, there are also a plethora of specialized Management courses you can pursue. Though an MBA is the most popularly pursued path from the list of professional courses after graduation, there are other varied postgraduate degrees in Management that can open the door to an array of career opportunities. The Master in Management or MIM is one such degree that focuses on core concepts like Finance, Supply Chain Management, Operation Management, Entrepreneurship Development, etc. Though this course is offered by scores of universities across the world, Germany is revered for its MIM program due to the free education it offers in comparison to the USA or the UK. Through this blog, we aim to provide you with a comprehensive guide on MIM in Germany, the top universities you can choose from as well as the career scope you can avail.
|Tuition Fees||INR 22,414 – 26 lakhs|
|Eligibility||Bachelor’s degree in a related field|
|Exams||IELTS, TOEFL, GMAT|
|Salary Offered||INR 12,00,000- 20,00,000 per annum|
This Blog Includes:
- What is MIM (Masters in Management)?
- Why Study MIM in Germany?
- Top Programs for MIM in Germany
- Top Universities for MIM in Germany
- Eligibility for Master in Management in Germany
- MIM in Germany: Admission Process
- German Student Visa
- Cost of Studying MIM in Germany
- Scholarships for Masters in Management in Germany
- Jobs After MIM in Germany
- MBA vs MIM in Germany
What is MIM (Masters in Management)?
Running for a period of 18 months to 2 years, MIM is a postgraduate degree in Management which aims to provide students with the knowledge of several academic disciplines such as Finance, Entrepreneurship, Marketing, and Accountancy, amongst others. It is suitable for individuals who want to explore the arena of Management and build a career in Commerce. When it comes to pursuing MIM in Germany, you can choose from an array of academic institutions, both public and private, offering this degree at economical costs. Further, as compared to MBA, MIM programs offer better flexibility in terms of choosing specializations and sub-disciplines that you want to delve deeper into, thus providing students with the much-needed feature of customization.
Why Study MIM in Germany?
Before elaborating on the details of studying MIM in Germany, let’s first understand why you should pursue this degree. For a long time, the MBA has been perceived as the only postgraduate program that graduates and working professionals commonly pursue to advance further in their managerial careers. Master in Management, as a postgraduate course, has emerged as an alternative option. Enlisted are the reasons for this change:
- While pursuing an MBA from universities abroad requires at least 2-3 years of experience, MIM does not have this condition.
- It is a foundational course that aims to provide students with a basic understanding of management processes as well as equip them with the required theoretical knowledge in this field.
- Apart from imparting knowledge of the field, it also equips the students with communication skills and enhances logical reasoning.
- When it comes to comparing MBA vs MIM in terms of costs, the latter is less expensive in comparison to an MBA
- Studying an MBA, the coursework comprises business models and techniques but in MIM, you will get to study various basic theories of business.
- From eCommerce Marketing and Global Business to Management Control and Economics, there are scores of specializations you can gain expertise in.
Top Programs for MIM in Germany
Thinking of studying abroad? But don’t know which universities & courses are best-fit for you!
Try our AI-powered Course Finder. Feed in your preferences, and let the AI match them against millions of data points, and you get what you are looking for saving you hours of research. Here are some of the popular MIM in Germany:
- Public Economics
- Business Administration
- Innovation Management, Entrepreneurship and Sustainability
- International Business
- Operations and Supply Chain Management
Top Universities for MIM in Germany
There are numerous academic institutions in Germany that offer Masters in Management courses to students across the globe. As public institutions in the country offer courses at no tuition fees, private universities might change varied academic fees for degrees like MIM. Here is a table that enlists some of the major universities offering MIM in Germany:
|Institutions Offering MIM In Germany||Type|
|WHU — Otto Beisheim School of Management||Privately Funded|
|University of Mannheim Business School||Public|
|HHL Leipzig Graduate School of Management||Private|
|Frankfurt School of Finance and Management||Private|
|TUM School of Management||Public|
Public Universities in Germany for MIM
MIM in public universities in Germany For MIM, we will discuss public universities in Germany in this part.
|Technical University of Munich||Free University of Berlin||Ludwig Maximilians University Munich|
|Humboldt University of Berlin||RWTH Aachen University||University of Hamburg|
|Technical University of Berlin||University of Mannheim||University of Bonn|
|Heidelberg University – Germany||University of Stuttgart||Leipzig University|
|University of Cologne||Hamburg University of Technology||Karlsruhe Institute of Technology|
|Technische Hochschule Ingolstadt||Technische Universität Darmstadt||University of Kiel|
|Goethe University Frankfurt||Johannes Gutenberg University||University of Bayreuth|
Eligibility for Master in Management in Germany
Candidates should check the prerequisites to study a course before starting their application process. The eligibility criteria to pursue a Master in Management (MIM) is listed below:
- Students must have a bachelor’s degree from a recognized university. Some universities have a minimum GPA requirement, candidates must check that closely.
- Candidate should clear the English-language proficiency test such as IELTS, TOEFL or PTE with the required score.
- A valid GRE or GMAT score as per the university requirement.
- 2 Letters of Recommendation (LORs)
- Some universities might ask for a minimum work experience of 2-3 years.
For admission to MIM in Germany, students have to appear for the GMAT exam. Here’s the minimum GMAT score, Technical University of Munich and Frankfurt School of Management don’t require GMAT scores and for WHU-Otto Business School of Management and HHL Leipzig Graduate School of Management you need 600.
Work Experience Requirement
Work experience is mandatory for MBA or MIM in Germany and required by most of universities. Work experience ranges between 3+ months to 3 years. Frankfurt School of Management and Technical University of Munich doesn’t require any work experience whereas HHL Leipzig Graduate School of Management and WHU-Otto Business School of Management required 3+ months of work experience. ESMT Berlin required 18 months of work experience.
English Proficiency Requirements
Most of the courses in Germany are taught in English and for admission to students belonging to non-native English-speaking countries, students have to appear for an English proficiency test. Students can take IELTS, TOEFL, and German C1. IELTS band should range between 6.5-7.5 whereas the TOEFL score should range from 88-100.
MIM in Germany: Admission Process
The application process takes place over a period of time and begins months before the commencement of classes. The universities have two main intakes known as the fall intake and winter intake for international students to kickstart their journey. You can call our Leverage Edu experts on 1800 572 000 to find out how the application process can be fast-tracked and streamlined to Germany! Here’s an easy 5-step process to complete your application process:
- Call our experts on 1800 572 000 to shortlist your favourite universities and courses. Start your application to multiple universities through our one-dashboard platform
- Compile all your documents like SOPs, essays, certificates and LORs and exam scores like IELTS, TOEFL, GRE, GMAT, etc
- Meet all the applications deadlines and start the application process for accommodation, students visa, and scholarships/student loans
- Accept the offer letter and meet your teachers, college mates and roommates virtually
- Get your visa approved and fly to your dream university!
German Student Visa
To begin with the process of getting a visa to study in Germany, you need to get in touch with the German embassy or consulate situated in your country. Further, if you have been successfully accepted by an academic institution in Germany, you can commence your student visa application either with your letter of acceptance or entrance exam scores (specified by your chosen institution) or else if you do not have any of these two, then you can opt for a prospective student visa instead.
The student visa remains valid for a period of three months and further can be extended by six months given that you get accepted into an academic institution or else get admission into a foundation course or any preparatory German language program within the six-month period. Also, it is advised to start your visa application as early as possible and you can also apply for a resident permit for study after staying for some time in the country with the prospective student visa.
Mainly, you will need the following documents to apply for a German student visa:
- Valid Passport
- Proof of sufficient funds
- Health insurance-related proof
- Copy of a health certificate
- Transcripts or mark sheets of previous academic qualifications as well as scores of language proficiency tests
- For prospective student visa: submission of transcript or marksheet of a recognised higher studies entrance qualification
- Curriculum Vitae (CV)
- Letter of acceptance from your chosen higher education institution (if you are not applying for a prospective student visa)
- Proof of English/German Language Proficiency scores
- Proof that you have submitted the visa application fee
Cost of Studying MIM in Germany
Every university has a different cost of studying for MIM in Germany, here are the tuition fees of top universities offering MIM in Germany with pre-arrival costs and cost of living:
Tuition Fees for Masters in Management in Germany
|University||Fees in INR|
|TU Munich||1.2 lakhs|
|Mannheim Business School||1.4 lakhs|
|Frankfurt School of Finance & Management||23 lakhs|
|ESMT, Berlin||25 lakhs|
|Type of Expense||Cost|
|Application & Visa Fees||INR 6,275|
|Health Insurance||INR 13,448|
|IELTS/TOEFL Fees||INR 14,700/14,197|
|GMAT Fees||INR 20,600|
Cost of Living in Germany
Taking the estimations from Numbeo, the cost of living in Germany, the apartment rent comes around 730.28 € [48,087 INR] (in the city centre) and 541.52 € [48,087 INR] (outside the city centre) and transportation costs come around 5,420 INR per month (taking monthly pass). Munich is approximated as the city with the highest cost of living expenses while Aachen has the lowest considering the rent, food, and other basic utility index provided by Numbeo. Also, the country also requires applicants to get health insurance when registering for an academic institution in the country. In the case of the coverage of health insurance, you would need to pay 80€ (7100 INR) on a monthly basis.
Scholarships for Masters in Management in Germany
Following is the list of scholarships for MIM in Germany:
- WHU-Otto Business School: This is a university scholarship offered to international students who have managed to score 700 on GMAT.
- ESMT Berlin: This is also a university scholarship offered to international students with 700+ GMAT scores.
Check out more popular German Scholarships for International Students here.
Jobs After MIM in Germany
After completing your MIM in Germany, you can choose from a varied range of career opportunities in both the private and public sectors. Moreover, if you have an entrepreneurial streak, then, you can also begin your own business and utilise the knowledge you have gained from this degree. But if you are planning to explore the corporate sector, here is a list of some of the major job profiles you can apply for after obtaining this degree:
- Human Resource Manager
- Development Manager
- Public Relations Manager
- Sales Manager
- Management Consultant
- Marketing Manager
- Project Manager
- Business Development Manager
- Social Media Manager
MBA vs MIM in Germany
Following is the difference between MBA and MIM in Germany:
|Basis of differences||MBA||MIM|
|Who it is for?||Experienced professionals||Recent graduates|
|Goals of applicants||Career development||Kickstarting their career|
|Age||The average age of the applicants is 27 years||The average age of the applicants is 23 years|
|Way of teaching||Practical orientation||Theoretical focus|
|Curriculum goal||Getting specialized industry knowledge||Building and layering a foundation|
|Popularity||Worldwide recognition||Recognized more in Europe|
|Duration||1-2 years for full time||The average duration of a MiM course is 10-12 months|
|Career opportunities||Mid-level positions||Entry or freshmen-level positions|
|Reception by companies||High||Growing fast|
The cost can vary based on the university. For instance, the semester fee of MIM in ESMT Berlin is 6,250 euros while that of the University of Mannheim is 1500 euros.
Yes, just like an MBA, you need to submit your GMAT score in order to enroll in this popular program.
Yes, Germany is well known for its business school around the entire world. Most of the German management schools provide excellent exposure to the corporate world with the help of engaging curricula and internships/training.
Hence, we hope that this blog has provided you with all the essential details on MIM in Germany. If you are planning to pursue a postgraduate program in Management and don’t know where to begin, take the help of Leverage Edu‘s AI tool to browse through a wide range of master’s degree courses offered across the globe and find a suitable combination of program and university that aligns with your interests and career aspirations.