MS IN GERMANY
MSc in Management or Masters in Management(MiM) has a deep relation with the European continent and Germany is one of the countries which boasts a number of schools offering the degree.
Germany is the third most popular destination among international students in the world. More than twelve percent of students at German universities come from abroad.
Germany is an attractive place to study and German university degrees are highly respected by employers worldwide.
Also, students normally don’t have to pay tuition fees at German universities, and if so, the fees are very low. Its master programme fee is not as high as in other countries like say in the UK or USA.
Also, some of its top universities like WHU Beisheim, EBS school of Management, Mannheim Business Schools are ranked among top 100 B-schools in the world as per FT MiM rankings which makes Germany an attractive place to study. You can check out current rankings here.
Cost of Living
The cost of living in Germany is reasonable. The cost of food, rent, clothing, and cultural activities are equivalent to the EU average. There are also a number of concessions available to students. You can receive reduced prices at theaters, museums, opera houses, cinemas, swimming pools, and other institutions. All you have to do is present your student ID.
Monthly housing costs vary between €650 and €700. Options vary from single rooms to apartments. Average monthly food expenses are around €150. If you conclude, Germany is not a costly place to live and have your studies done. It is way cheaper than other countries and Germany focuses greatly on international students.
Student Visa for Germany
To study in Germany for more than 3 months you need to apply for a student visa at least 3 months before you move to the country. Once in the country, you will need to apply for a residence permit within two weeks of arrival and register with the local registration office.
If you want to stay in Germany to seek work after your degree, then international students with a residence permit can extend it to stay in Germany and seek work for up to 18 months after graduating, as long as the job is related to their field of study. Graduates from EU/EEA countries can stay on to seek work without any restrictions or permits.
After 2 years of employment in Germany, it is possible to apply for permanent residency status.
Work while studying
It is legal to work in Germany with a student visa, but students are restricted to the number of days they can work while doing their MS in Germany. This is 120 full days each year or 240 half days. Students from the EU can work for up to 20 hours per week without the need for a work permit.
Although the overall cost of a student experience in Germany is not high compared to other countries. But if you still want some financial support, remember Germany is an industry hub. Providing you many opportunities to support you in your studies financially.
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Government – Funded scholarships to study in Germany
Scholarships to Study in Germany
The largest provider of scholarships for study in the EU, Erasmus+ is led by the European Commission, funding international students to study in Europe. It provides grants for living costs when participating in an exchange program to study in Europe
Non-Government funded scholarships to study in Germany
- Deutschland Stipendium– Merit-based scholarships of €300 a month are available to highly talented students enrolled at German universities. Nationality and personal income do not affect your chances of being considered.
- The Helmholtz Association– Annual fellowships are available for doctoral and postdoctoral students from around the world, giving them the opportunity to do paid research at a Helmholtz center.
- HHL International MSc Scholarship for Effective and Responsible Leadership – Scholarship opportunities to study management at the master’s level at HHL Leipzig Graduate School of Management.
- Frankfurt School of Finance and Management Doctoral Tuition Waivers – 10 tuition waiver scholarships for doctoral students studying an English-language program at Frankfurt within finance, accounting, mathematics and business administration to name a few.
Placement statistics of the Top German B-Schools
1. HHL Leipzig Graduate School of Management
In 2015 more than 40% of the M.Sc. graduates started their career in Consulting so it remained by far the most popular sector. Nearly 15 % of the graduates chose an entry position in the Financial Services sector As for the remaining 45%, the sector choice is very diverse in the latest placement statistics which shows that the General Management approach of HHL gives graduates a wide range of career options.
- Average starting salary: EUR 61,000
- Employment rate 3 months after graduation: 95%
2. EBS University
EBS is ranked 12th in Master in Management as per FT 2016 rankings for MiM Program. The only B-school in Germany to accept non-business graduates for its master program. The average starting salary of master graduates is 58,000 euros. 80% of graduates received their first job offer while studying or at the latest 3 months after the completion of studies with majority of student finding job in Consulting sector followed by Finance and rest choose to work in diverse fields.
- Mean starting salary: EUR 61,629
- Employment rate 3 months after graduation: 85%
3. WHU Master in Management
Annually, more than 50 companies are active on campus through corporate presentations. Two recruiting fairs happen, one in February and one in October.
Students also receive weekly newsletters with information on job & internship opportunities, alumni network, corporate connections etc. 95% of the students found job opportunities within 3 months of graduation.
Some corporate connections include McKinsey, Boston Consulting Group (BCG), Goldman Sachs, Accenture, Morgan Stanley, PricewaterhouseCoopers (PwC).
- Average Salary (Weighted): Eur 88,391
- Employment rate 3 months after graduation: 98%
Is MS in Germany worth it?
Masters in Germany is a little tricky to understand. Is it worth it? Is it any better than any other place’s masters? Is it easier?
Let us clear 1 point at the very start, Germany is not the USA. It does not mean Germany has any less functionality to provide education. What it means is a Masters in Germany is followed by a different approach compared to the USA’s study pattern. Here are some major points to clear your doubts:
Lot Tougher to Graduate Than USA
While the USA focuses on other aspects of a student life, Germany follows a tender and expert way to educate students. You will find that students take several attempts to clear exams and dedicate way more to excel in their studies. You will be put through several obstacles and tests to prove your worth. German study pattern tends to provide a relaxed yet challenging process to navigate students toward the future.
It’s either up to you if you take it as positive motivation or negative, but it sure does provide you better results in your studies than your social experience.
Cheap & Affordable
Germany is known for its cheap and affordable education. There is no tuition fee at public universities in Germany at all. Plus the private institutes too cost a low fee structure and other costs than your academics are also cheap.
Your social life would not get financial trouble as well as Germany is not that costly as you might think. It’s quite reasonable and affordable.
Everyone who knows seven a little about Germany knows what kind of industrial ub and opportunities it consists of. WE would probably even state Germany as the best place to experience industrial experience while pursuing your studies. German institutes tend to provide many possible benefits of dynamic and overgrowing industry experience to its students. By live projects and numerous tours and visits you will be in direct contact with industrial thinking and working.
Working and learning from industry in your student life is a fortune and not to be missed. Institutes in Germany have several affiliations and partnership with world leading companies and firms. Your academic aspects collide with this aspect to develop and improve your studies and experience in Germany. You will find students working on advanced infrastructure and technology and equipment to learn and create.
Just a reminder, you know Germany is the world’s automobile ub right?
Not The Experience You Expect
If you believe you will have a time of your life in Germany by traveling to major points and experiencing food and culture you are mistaken. Of-course you will have a blast, built not as you expect. Studies in Germany generally involve more focus on studies and less on social life. You will be given tons of assignments and projects to work with. Your study pattern will be laid back with keeping you involved in learning on a daily basis.
Life in Germany is definitely cool and awesome, but as a student you are on a budget to complete your studies and gain experience. For a more suitable social life students prefer London, France or USA based institutes for their studies. Here in Germany too you will be experiencing an unforgettable time of your life. It just will not be socially derived, it will be studies derived.
To conclude if MS in Germany is worth it or not we will state; YES! It’s definitely worth it as you as a student want more focus on your studies compared to social life. Social life is super important, everyone knows that and the amount you deserve will be provided in Germany. Just not as compared to major student destinations.