MBA in Germany for Free

Highlights

• Doing an MBA in Germany is an affordable option with a high return on investment.
• Public universities in Germany charge a semester fee that ranges from EUR 200 to 1400 (INR 17,000 to 1.25 L).
• Scholarships can help with 50-70% of cost deduction, and part-time jobs, Hiwi jobs and working student jobs can help cover your expenses.
• The average entry-level salary after an MBA in Germany ranges from 35,000 to 80,000 EUR (31 lakhs to 71 lakhs INR).
• Some of the top companies recruiting graduates after an MBA degree in Germany include BMW, Siemens, Bosch, Deutsche Bank, SAP, and Adidas.

The average cost of an MBA from private universities in Germany ranges from EUR 10,400 to EUR 49,500 (INR 9.1 L to 43.4 L). Even though the public universities may not cost you a hand and a limb, they still charge a semester fee. Plus, the cost of living in Germany, including accommodation, travel, monthly expenses, and more, is still higher than that in India. So, how can you do an MBA in Germany for free? Here’s how.

Cost of Living in Germany

Compared to most other study abroad destinations, Germany is an affordable option for MBA. Even though living in Germany is more expensive than India, it is still accessible. International students need an average of €864 per month to live and study in Germany, as per the DSW's Social Survey. The expenditure is inclusive of:

• Rent and utilities (electricity, water, heating, rubbish removal fees)
• Food and clothing
• Local transport
• International travel
• Insurance (e.g. health insurance)
• Telephone, internet, radio and television fees
• Other miscellaneous expenses and pocket money

Apart from these expenses, the tuition fee of the university, which depends on whether it is a public or private institution, comprises the total cost of living in Germany for MBA students.

Public Universities vs Private Universities

Germany has over 300 public universities, which are funded by the government and charge no tuition fees. They charge a semester fee that amounts to EUR 200 to 1400 (INR 17,000 to 1.25 L). Some public universities, however, make an exception for MBA courses and do charge a tuition fee, though it is still much less than other study abroad options. Some of the top business schools in Germany are:

Fully-funded MBA: Aids, Grants, and Scholarships

Although you may have to set aside a sum initially for an MBA in Germany, there are several ways to neutralize the cost. Rahul Singhal, who did his MBA in Germany and has been working there for the past three years, explains that scholarships help with 50-70% of cost deduction, and part-time jobs can help cover your expenses. Additionally, you can take up on-campus jobs relevant to your field of study, assistantships, or avail grants and other financial aids.

Financial Aids for MBA in Germany

Some universities support international students financially, and the federal government offers financial aid as well. Some of these include:

BAföG – Federal Financial Aid

The state helps finance international students who have been a resident in Germany for at least five years. The financial aid is a combination of zero-interest loans and grants to cover monthly living expenses, amounting to €861 a month. BAföG is need-based aid, and in some cases can be availed by non-residents if they plan to stay in Germany after completing their studies.

Arden University Berlin's Regional Offer

Arden University’s Regional Offer provides a discount of up to €6,000 to international students, reducing the tuition fees for MBA or Executive MBA from €16,500 to €10,500. Students are automatically considered for the offer upon application, depending on eligibility.

CBS Education Fund

The Education Fund by CBS University is a loan program under which its partner entity, Brain Capital, covers the entire tuition fee of the student. The repayment starts after you reach a certain minimum income, depending on the salary you earn.

Scholarships for MBA in Germany

Apart from need-based aids, the scholarships that you can avail for MBA in Germany include:

Jobs and Assistantships

Student jobs and assistantships are another great way to fund your MBA in Germany. There are three kinds of jobs you can take up:

Part-time Jobs

Taking up part-time jobs is a common way of earning some extra money to cover your cost of living while studying MBA in Germany. Students can find jobs ranging from part-time to mini-jobs (temporary work), which can be adapted to the course schedule.

"Hiwi"-Jobs

Assistantships are called Hiwi jobs, and students can support the university’s operations by being a student or research assistant. The contributions as an assistant include:

• Research Support: Data collection, literature research, assistance with experimentation, etc.
• Teaching Support: Preparation and implementation of lectures, seminars and exercises, correct exercise sheets and student contact person.
• Administrative tasks: Organizing conferences and workshops, managing teaching materials and maintaining departmental websites.
• Project work: Project-related tasks and help with coordination and implementation of project tasks.
• Event management: Planning and implementation of department-specific events, such as conferences, guest lectures or information events for students.
• Project support: Help with subject-specific research and development projects.

How and where to apply

Applying to Hiwi jobs can be implemented in two ways:

• Student portals, online job exchanges, notice boards, etc have job advertisements for Hiwi jobs.
• If you are interested in working on a specific project or with a specific lecturer, you can send a speculative application directly.

"Werkstudentenjobs"

Werkstudentenjobs are basically working student jobs, where you earn money while working in a field related to your course. Working student jobs are a popular alternative to temporary jobs and unpaid internships. They also have the added benefit of creating a positive impression in the company they are working at and securing a placement upon graduation.

Success Stories: Low Investment, High Return

Rahul Singhal shared his experience of doing his MBA in Germany, highlighting its affordability and accessibility. He believes it to be a sound financial decision, especially since he funded his course through part-time jobs and other sources of income.

He appreciates the German work culture and the work-life balance it entails. In his opinion, a work experience of five years is more helpful than the minimum requirement of three years, as it enhances your course experience. Plus, it boosts your job search, as the work experience impacts your salary package as well. An MBA in Germany opens up job opportunities, and Rahul emphasizes the importance of learning the German language as a working professional.

Compared to most other study abroad destinations, Germany is an affordable option for MBA that provides a high RoI. The average salary after MBA in Germany ranges from 35,000 to 80,000 EUR (31 lakhs to 71 lakhs INR).

Frequently Asked Questions