Masters in Finance in Germany: A Complete Guide

Masters in Finance in Germany: A Complete Guide

In Germany, a Masters in Finance degree in finance is a two-year program provided by both public and private universities. Germany has the best universities for earning a master’s degree in finance. To apply for a master’s degree in finance at a German university, students must have a bachelor’s degree in finance or a related field such as economics.

Why Study Finance in Germany

When a student considers studying abroad, the first thing that comes to mind is the cost of education. So, here’s the one-liner: Germany has a “no tuition cost” policy. Thus, it appears to be the most essential reason for choosing to study in Germany.

Master’s degree programs in finance are available at several German universities. In addition, the cost of living in Germany is quite inexpensive when compared to other European Union regions. Thus, Germany’s citizens have a sense of propriety. Hence, Germany’s work culture is diverse and fast-paced, making it a people-friendly country.

Germany offers a plethora of benefits as a favored destination for the greatest colleges. The following are a few of the most appealing:

  1. According to the QS world ranking, Germany has six of the top 100 universities in the world.
  2. Moreover, In Germany, positions after a Masters in Finance are well-paid. The average monthly income is 2500 Euros, roughly five times higher than in India for the same position.
  3. So, Germany, as the world’s fourth-largest economy, has a developed market and hence a large number of financial employment.
  4. Besides to that, Students who take out an education loan have a flexible payback schedule. Hence, Germany’s government gives you five years to repay the loan after you finish your degree.

Germany’s Best Master of Finance Universities

The following are some of Germany’s best master’s in finance schools:

University Ranking Courses offered Duration of course Course Fee Per Semester (In Euros)
Technical University Munich, Munich 55 M.Sc in Mathematical finance and actuarial science 2 years 129
Free University Of Berlin, Berlin 130 M.Sc in finance, Accounting and Taxation 2 years 130
Goethe University Frankfurts 291 M.Sc in Money & Finance

M.A in Finance

2 years 140
University Of Kaiserslautern, Rhineland, Palatinate 301-350 M.Sc in Finance and insurance mathematics 2 years 160
Johannes Gutenberg University Of Mainz 410 M.Sc in Accounting & Finance 2 years 5000
University In Kiel 478 M.Sc in Quantitative Finance 2 years 150
The University Of Duisburg-essen, Duisburg 601-650 M.Sc Business Administration- Energy & Finance 2 years 4200
Philipps University, Marburg 651-700 M.Sc in Quantitative Accounting & Finance 2 years 130

Master of Finance Admissions Process in Germany

Thus, Germany’s universities are among the top 100 in the world. Hence, the eligibility requirements are more stringent. Hence, For international students, several exams must be passed to be considered for admission.

Where to Apply: So, Admissions applications can be submitted directly through the college’s website. Thus, There is also a centralized admission site for international students called uni-assist. Hence, it is run by the German Academic Exchange Services (DAAD). However, it is not available at all universities.

Intake Season: So, The admissions procedure takes place twice a year, in July and October for the winter and summer semesters, respectively.

Eligibility for Master of Finance Admission in Germany

  • Bachelor’s and Masters in Finance or related field
  • Moreover, GRE test score
  • Hence, Proof of English proficiency

Proof of English Proficiency

So, If the course is taught entirely in English, students must pass an English proficiency exam.


Thus, The following are the minimum score requirements for several universities: 

Colleges Minimum TOEFL Score Required Minimum IELTS Score Required
Technical University Munich, Munich 88 6.5
Freie University Of Berlin, Berlin 80 5.0
Moreover, ULM University, ULM 95 7.0
Paderborn University, the Paderborn 80 6.0
University Of Philipps, Marburg 85 6.0
The University Of Kaiserslautern, Rhineland 79 6.0
Goethe University Frankfurts 85 6.0
University In Kiel 79 6.5
Johannes Gutenberg University Of Mainz 80 7.0
The University Of Duisburg-Essen, Duisburg 100 6.5

Masters in Finance in Germany: Specialization

Thus, Candidates interested in pursuing a Masters in Finance concentration would be able to choose from one or more focus areas and build their research projects. So, Some of the finance specializations listed below could be taught as a stand-alone course or as part of a larger financial education program.

Asset Markets Corporate Finance Financial Markets
Financial Mathematics Advanced Derivatives  Moreover, Financial Management
Financial Engineering Moreover, Finance Research Methods Behavioural Finance
Financial Econometrics Planning So, Financial Reporting
Moreover, Financial Statement Analysis Besides that, Infrastructure Finance Therefore, Management Accounting
Financial Accounting and Analysis Professional Practice in Finance Hence, Portfolio Management Methods
Besides that, International Finance Therefore, Mergers and Acquisitions Thus, Private Equity and Venture Capital
Thus, Real Estate Finance Risk Management Moreover, Structured Financial Products

Cost of Studying Master of Finance in Germany

Therefore, In Germany, the average cost of living for students is between 8000 and 9000 Euros per year. So, In comparison to the rest of the European Union, Germany has a lower cost of living. So, In Germany, public transportation is the best option for students.

Thus, The majority of international students choose student living. Since, it is the most cost-effective alternative. Alternatively, there is a system of interim renting, in which students who are temporarily relocating rent a room for the duration of their absence. So, The costs of temporary rental are about half of those of the other options.

So, The majority of public institutions give public transportation tickets. Thus, they are included in the administrative fees imposed by the universities.

Pre-arrival Cost

Type of Expense Cost (in EUR)
German Student Visa 75
Moreover, IELTS Fee 229 – 233
Hence, TOEFL Fee 228
Airfare 250 -600

Cost of Living

Type of Expense Monthly Cost (in EUR)
Student residence 250-300
House Rent 300-500
Moreover, Food 500-600
Traveling 300-350

Scholarships for Master of Finance in Germany

Hence, In Germany, international students can apply for a variety of awards and scholarships. Therefore, The scholarship is usually offered to students as a monthly stipend, with the value ranging from 850 to 1200 Euros per month.

Some of the scholarships are provided below:

Scholarship Program Eligibility Criteria Stipend Paid Per Month (In Euros)
DAAD So, Graduation with above-average results(top 30%). 800-1500
Heinrich Boll Hence, Both undergraduates and postgraduates can apply. 800-1200
Development Related Postgraduate Courses So, Graduation with a minimum of two years of work experience. 750

Thus, International students are also permitted to work for 90 full days or 180 half days during their holidays to supplement their income. Hence, The monthly salary for this job is between $60,000 and $70,000.

Jobs Opportunities after Master of Finance in Germany

Therefore, In Germany, a Master of Finance is a very important course. Hence, In Germany, the average pay after earning a master’s degree in finance is 49,000 EUR per year. So, This is about five times the income offered in India for the identical job.

Therefore, As the world’s fourth-largest economy, Germany’s labor market is brimming with options to work and make good money. So, After completing a master’s degree in finance, one can find work in Germany with a monthly income ranging from 2300 to 3000 euros.

Hence, Many companies come to visit the college and offer jobs just on the college campus. Thus, BMW,  Audi, and Allianz Worldwide are just a few examples. So, Munich Re,  Commerzbank, Deutsche Bank Group, Ascribe,  and other financial institutions

The following are some of the most prevalent job roles:

Job Roles Job Description Average Annual Salary (In EUR)
Financial Analyst Therefore, Obtaining and evaluating financial data, as well as researching market trends. 48,000
Investment Bankers Thus, Assisting clients with mergers and acquisitions, helping them to raise capital 67,000
Financial Examiner Besides that, Ensuring the working of financial institutions concerning laws and regulations 60,000
Financial Advisors So, Providing investment, tax, and insurance advice to customers. 41,000
Finance Manager Thus, Monitoring accounts and reviewing the financial reports 63,000
Actuary Hence, Considering the likelihood of financial problems and their consequences. 67,000
Accountant Therefore, Compilation and analysis of account data necessary for the preparation of various reports. 39,000
Trader Thus, Execution of trades in stocks, debentures, or commodities 56,000
Insurance Specialist So, Decoding complex insurance laws and policies, as well as providing insurance advice to clients. 28,000

Hence, Students who want to advance quickly in the Masters in Finance sector should get a master’s degree in finance. Therefore, It is a sector that is required in both corporate and non-corporate settings. Thus, Over 20,000 Indian students are studying in Germany, with about 30% of them majoring in finance.


Hence, It’s a premium education for people looking to advance swiftly in their careers. Thus, It is a sector that is required in both corporate and non-corporate settings. So, After completing this program, students can expect to earn an average annual salary of 49,000 EUR in Germany. Hence, The cost of a course might range from 129 EUR to 5,000 EUR per semester.