Manik Study Abroad Content Specialist
Study Abroad Content Specialist | Updated On - Jul 9, 2025
Masters of Finance in Germany is a popular option among Indian students looking to launch careers in banking, investment, corporate finance, or risk management. Germany stands out as one of the top destination, offering more than 50 well-regarded finance programs. Leading institutions include- the Frankfurt School of Finance & Management, WHU – Otto Beisheim School of Management, and the University of Tübingen.
Masters in Finance in Germany fees at public universities mostly have €0 tuition fee, but some can go up to €3,000 per year (₹2.6 lakhs). Private universities in Germany can charge up to €39,000 per year (₹34.6 lakhs) for tuition. The course duration is typically 2 years, with intakes in April and October. Applicants need a bachelor’s degree in finance, economics, or a related field, along with IELTS 6.5 or TOEFL 88, and for Indian students, an APS certificate is mandatory for visa processing.
After completing the course, students can apply for an 18-month job-seeker visa to find employment in Germany. With an average salary of €61,800 per year (₹50.7 lakhs) and roles like Investment Analyst, Financial Controller, and Risk Manager, the degree offers excellent ROI. Graduates from top universities such as Mannheim and WHU report even higher starting salaries of €80,000–€95,000.
International students can also apply for fully funded or partial scholarships like the DAAD EPOS, Deutschlandstipendium, and KAS Scholarships. Additionally, they are allowed to work 120 full days or 240 half days annually, making Germany an affordable and career-driven study destination for finance professionals.
Top Universities for Masters in Finance in Germany
Germany is home to several globally ranked institutions offering specialized Finance programs designed for high employability, global exposure, and affordability. Here are some of the leading options for international students:
| QS Ranking | University | Program | Location |
|---|---|---|---|
| #24 (Masters) | WHU – Otto Beisheim School of Management | M.Sc. in Finance | Koblenz |
| #45 (Masters) | Frankfurt School of Finance & Management | Master of Finance | Frankfurt am Main |
| #64 (Masters) | EBS Business School | Master in Finance | Oestrich-Winkel |
| #=50 (Masters) | EU Business School | Master in Finance | Munich |
| #316 (World ranking 2026) | Goethe University Frankfurt – GSEFM | M.Sc. in Money and Finance | Frankfurt |
| #=58 (World ranking 2026) | LMU Munich | M.Sc. in Finance and Information Management (FIM) | Munich |
| #=75 (Masters) | ESMT Berlin | Master in Global Management (Finance Specialization) | Berlin |
Why Study Masters of Finance in Germany?
Germany is a major destination for students pursuing a Master’s in Finance due to its range of public and private university offerings, relatively low tuition costs, and accessible work opportunities. Below is an overview of key aspects:
- 49 Master’s in Finance programs are offered across German universities as of 2025.
- Top universities include Frankfurt School, WHU, and University of Tübingen, ranked among Europe’s best for finance.
- Public universities charge no tuition; only semester contributions range from €150–€400.
- EBS Universität’s Master in Finance ranks #3 in Germany and #37 globally (Financial Times 2025).
- Average starting salary after graduation is between €48,000–€66,000/year.
- International graduates can stay in Germany for up to 18 months on a job seeker visa.
- A large number of programs are taught entirely in English, especially at the master’s level.
- German universities have a diverse international student population from over 100 countries.
Masters of Finance in Germany Specialization
Master’s in Finance programs in Germany allow students to focus on core and emerging areas within the finance industry. Key specializations include:
- Corporate Finance
- Risk Management
- Financial Engineering
- Portfolio Management
- Private Equity and Venture Capital
- International Finance
- FinTech
- Green Energy and Climate Finance
Masters of Finance in Germany Admissions
Germany offers competitive, globally recognized finance programs with varied entry requirements. While admission criteria may vary slightly by university, most programs share common expectations related to academics, language proficiency, and documentation.
Intakes:
- Winter (September/October): Main intake for most Finance programs
- Summer (April): Available at select universities
General Eligibility Criteria:
| Requirement | Details |
|---|---|
| Bachelor’s Degree | Minimum GPA of 2.5 (75%) in a relevant field like Finance, Business, Economics |
| English Proficiency | IELTS 6.5–7.0 or TOEFL 80–100 (for English-taught programs) |
| German Proficiency | Required for German-taught programs: TestDaF (TDN 4), DSH-2, or Goethe C1 |
| Documents Required | SOP, 2–3 LORs, CV (Europass format), transcripts, APS certificate |
| Work Experience | Helpful for applicants with low GPA; not mandatory for most programs |
Masters of Finance in Germany Top Universities & Admission Details
| University | Program | Overall Acceptance Rate | Upcoming Deadlines | English Test |
|---|---|---|---|---|
| WHU – Otto Beisheim School of Management | M.Sc. in Finance | 9% | May 31 | TOEFL 100 |
| Frankfurt School of Finance & Management | M.Sc. in Finance | 40% | June 30 | TOEFL 90 |
| Goethe University Frankfurt (GSEFM) | M.Sc. in Money and Finance | 77% | January 31 | IELTS 4.5 |
| University of Duisburg-Essen | M.Sc. in Business Administration (Finance) | 100% | July 15 | TOEFL 100 |
| Technical University of Munich (TUM) | Master in Finance & Information Management | 8% | March 15 | TOEFL 88, PTE 65 |
| University of Tübingen | M.Sc. in Economics and Finance | 33% | May 15 | IELTS 6.0 |
| Free University of Berlin | M.Sc. in Finance, Accounting and Taxation | 15% | January 15 | IELTS 6.5, PTE 75 |
| University of Göttingen | M.Sc. in Finance, Accounting and Taxation | 20% | May 15 | TOEFL 80 |
| Ulm University | M.Sc. in Finance | 13% | March 15 | IELTS 6.5 |
Tips to Improve Admission Chances:
- Strong SOP & LORs: Clearly state your academic goals, career plans, and motivation.
- Work Experience: Adds weight, especially if GPA is below average.
- Updated CV: Use the Europass format for clarity and professionalism.
- Extracurriculars: Show well-rounded development through leadership, sports, or volunteering.
- Early Application: Start preparing 6–8 months in advance to meet all deadlines.
Application Process for Masters of Finance in Germany
Applying to German universities involves several key steps. Most universities accept applications through Uni-assist or their own portals. Here’s a quick overview:
- Choose Your Program: Research finance programs and check if they’re taught in English or German. Confirm the eligibility requirements.
- Check Eligibility: Ensure you meet the academic and language criteria. Most English-taught programs require IELTS (6.5–7.0) or TOEFL (80–100).
- Prepare Documents: Common requirements include transcripts, CV, motivation letter, language test scores, passport, and proof of financial support.
- Submit Application: Apply via Uni-assist or directly on the university website. Some universities charge an application fee.
- Wait for Admission Decision: Processing may take weeks to months. Use this time to prepare for your student visa and arrange health insurance.
- Apply for Visa: You’ll need an admission letter, proof of €10,000 in financial support, and health insurance. Apply at least 2–3 months before your program starts.
- Arrival and Enrollment: After reaching Germany, register with local authorities and submit original documents to complete enrollment.
Challenges of Studying in Germany
While Germany offers high-quality, affordable education, international students—especially from India—may face a few challenges:
- Language Barrier:
Although many Finance programs are taught in English, fluency in German is often essential for internships and full-time jobs. Limited German skills can restrict employment opportunities, especially in traditional finance roles.
- Cost of Living:
Compared to other European countries, Germany is relatively affordable, but for Indian students, living costs (€10,000–€16,000/year) can still be significantly higher than back home. Cities like Munich and Frankfurt tend to have higher rent and transportation expenses.
Cost of Studying Masters of Finance in Germany
Germany offers high-quality education at a fraction of the cost compared to many other study-abroad destinations. Still, international students must carefully estimate both tuition and living expenses before applying.
Tuition Fees
The tuition fees for some popular universities are provided in the table below:
| University | Program | Tuition Fee (€/year) | Approx. Fee (₹/year) |
|---|---|---|---|
| WHU – Otto Beisheim School of Management | M.Sc. in Finance | €37,200 | ₹37.4 Lakhs |
| Frankfurt School of Finance & Management | M.Sc. in Finance | €39,000 | ₹39.2 Lakhs |
| Goethe University Frankfurt (GSEFM) | M.Sc. in Money and Finance | €697 | ₹70.1 Thousand |
| University of Duisburg-Essen | M.Sc. in Business Admin. (Finance) | €1,038 | ₹1.04 Lakhs |
| Technical University of Munich (TUM) | M.Sc. in Mathematical Finance & Actuarial Sci | €12,000 | ₹12.07 Lakhs |
| University of Tübingen | M.Sc. in Economics and Finance | €3,000 | ₹3.02 Lakhs |
| Free University of Berlin | M.Sc. in Finance, Accounting and Taxation | No Tuition | Free |
| University of Göttingen | M.Sc. in Finance, Accounting and Taxation | €808 | ₹81.2 Thousand |
| Ulm University | M.Sc. in Finance | €3,000 | ₹3.02 Lakhs |
For visa purposes, students from outside the EU must set up a blocked account (Sperrkonto) with at least €11,904 deposited (for 12 months). Setup fees range from €70–€150, and monthly withdrawal is capped unless more is deposited.
Cost of Living in Germany
The cost of living in Germany may vary according to the location of your residence. Actual average expenses for students in Germany are:
| Expense | Monthly Avg. (€) |
|---|---|
| Rent (incl. utilities) | 410 |
| Food | 198 |
| Health insurance & medical | 100 |
| Transportation | 89 |
| Recreation, sports, culture | 65 |
| Clothing | 46 |
| Books & study materials | 31 |
| Phone, internet, radio, TV | 32 |
| Miscellaneous (personal, leisure, etc.) | 144 |
| Total | ~€1,115/month |
Masters of Finance in Germany Scholarships
Germany is one of the most affordable study-abroad destinations for its extensive scholarship ecosystem. Whether you're applying to a public or private university, several government-funded and private scholarships can help ease your financial burden. Organizations like DAAD, Deutschlandstipendium, and Konrad-Adenauer-Stiftung provide generous monthly stipends that cover tuition, living costs, health insurance, and travel expenses.
While many public universities charge minimal or no tuition fees, scholarships still play a vital role in covering living expenses—averaging around €850–992/month (₹75K–88K INR). Scholarships are awarded based on academic excellence, professional experience, or financial need. Most applications require documents like a letter of motivation, recommendation letters, language proficiency certificates, and a well-organized CV.
Scholarships for Indian Students Pursuing Finance in Germany
| Scholarship | Funding Body | Monthly Stipend | Level of Study | Deadline |
|---|---|---|---|---|
| DAAD EPOS Scholarship | DAAD | €934 (₹85K) | Postgraduate (Master’s) | Oct–Dec 2024 (varies) |
| Deutschlandstipendium National Scholarship | German Govt + Private Sector | €300 (₹27K) | All degree levels | March 31, 2025 |
| Konrad-Adenauer-Stiftung (KAS) | KAS Foundation | €934–1,200 (₹85K–1.1L) | Master’s & Doctorate | July 15, 2025 |
| Heinrich Böll Foundation Scholarship | Heinrich Böll Foundation | €1,200 (₹1.1L) | Master’s & Doctorate | Sept 1, 2025 |
Read More: Scholarships In Germany
Masters of Finance in Germany Job Opportunities
Graduates of finance programs in Germany benefit from access to one of the largest and most stable economies in the world. The country has a strong demand for professionals in banking, investment, corporate finance, and financial technology sectors. After completing a master’s degree in finance, international students can apply for a Job Seeker Visa in Germany, which allows them to remain in Germany for up to 18 months to search for employment.
However, securing a job requires more than academic qualifications. Most employers expect candidates to have relevant internship or work experience, as well as German language proficiency, especially for client-facing roles.
The average annual salary for finance graduates in Germany is approximately €61,800 (~₹50.7 lakhs). Graduates from top universities can expect higher salaries depending on their specialization, skill set, and prior experience. Below is a comparison of average annual salaries for finance graduates from leading German institutions:
| University | Average Annual Salary |
|---|---|
| Frankfurt School of Finance & Management | €67,000 (₹59.36 lakhs) |
| Mannheim Business School | €95,700 (₹84.80 lakhs) |
| WHU – Otto Beisheim School of Management | €84,608 (₹74.97 lakhs) |
| ESMT Berlin | €80,150 (₹71.02 lakhs) |
| HHL Leipzig Graduate School of Management | €65,735 (₹58.24 lakhs) |
#Note: These figures represent average post-graduation salaries reported in the QS Global MBA Rankings 2025 for institutions offering finance-focused programs.
Common Career Paths After Masters in Finance:
-
Financial Analyst
- Investment Banking Associate
- Risk Manager
- Asset Management Associate
- Corporate Finance Specialist
- Financial Auditor
- Private Equity Analyst
- Fintech Strategy Analyst
Overall, Germany’s finance sector offers competitive salaries and strong career growth potential. International graduates who meet the language and professional requirements can build rewarding, long-term careers. Average starting salaries range from €45,000 to €65,000 per year, and senior roles in banking or asset management exceed €100,000 annually in major cities like Frankfurt and Munich.
FAQs
Ques. What is the eligibility for Masters in Finance in Germany?
Ans. To be eligible, students typically need a relevant bachelor’s degree with at least 75% or a 2.5 GPA, English or German language proficiency (IELTS 6.5+/TOEFL 90+ or TestDaF/DSH for German-taught programs), and supporting documents such as SOP, LORs, CV, academic transcripts, and APS certificate.
Ques. Is it necessary to know German for a Masters of Finance in Germany?
Ans. While many finance programs are offered in English, learning German is strongly recommended, especially for internships, job placements, and daily life in Germany. German proficiency significantly improves your employment prospects post-graduation.
Ques. How much does it cost to study Masters in Finance in Germany?
Ans. Public universities typically charge low to no tuition fees, with semester contributions ranging from €100 to €400. However, private universities like WHU or Frankfurt School may charge between €30,000 and €40,000 per year. The average living cost is about €992/month.
Ques. What are the top universities for Masters in Finance in Germany?
Ans. Some of the top universities include:
- WHU – Otto Beisheim School of Management
- Frankfurt School of Finance & Management
- Goethe University Frankfurt
- University of Duisburg-Essen
- Technical University of Munich (TUM)
Ques. Are there scholarships available for Indian students in Germany?
Ans. Yes, Indian students can apply for scholarships such as the DAAD EPOS, Deutschlandstipendium, Konrad-Adenauer-Stiftung (KAS), and Heinrich Böll Foundation scholarships, which offer up to €1,200/month in support.
Ques. Can I stay back in Germany after my Masters in Finance?
Ans. Yes, international graduates can apply for a Job Seeker Visa, which allows them to stay in Germany for up to 18 months to find employment related to their field of study.
Ques. What is the average salary after a Masters in Finance in Germany?
Ans. The average annual salary is around €61,800 (~₹50.7 lakhs). Graduates from top schools like Mannheim Business School or WHU may earn significantly higher, depending on experience and specialization.
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