Germany isn’t just Europe’s largest economy—it’s a financial giant. With Frankfurt dubbed the “Wall Street of Europe”, home to the European Central Bank and the Frankfurt Stock Exchange (one of the world’s largest), finance professionals here are in high demand. Germany faces a shortage of skilled finance experts.
But beyond the numbers, is a Master’s in Finance in Germany worth it? In this blog, we’ll try to find out the answers while suggesting to you the best universities, costs, scholarships and career paths to help you make the right choice.
Why study MS in Finance in Germany?
- We all know that German public universities charge as little as €150 but even private universities charge lower tuition than the US or UK, with costs ranging from €10,000–€20,000 per year.
- Germany is Europe’s largest economy, with a strong financial sector in Frankfurt (home to the European Central Bank, Deutsche Bank, and Commerzbank).
- Finance professionals in Germany earn an average of €60,000–€80,000 annually, with investment banking and risk management roles reaching €100,000+ after experience.
- A finance graduate in Germany can recover tuition and living costs within 2–3 years due to high salaries. That means you can cover this cost while staying on your Temporary Graduate Visa.
- Germany is Europe’s 2nd-largest fintech market (after the UK), with over 1,000 fintech startups, meaning more opportunities for you.
Top Universities offering Masters in Finance in Germany
Multiple universities offer Masters in Finance in Germany and a few have even made it to the top ranks in the QS ranking. Here is a curated list of some of the best universities offering Masters in Finance in Germany:
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PictureUniversity NameCoursesUniversity Details
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WHU (Otto Beisheim)MSc FinanceFull-time/ Part-time
On-campus/Online
Duration: 17-21 months
Fees: €32,200-€39,600
Intakes: Aug
Placement: 92% -
Frankfurt School of Finance and ManagementMaster of Finance (MSc)Full- time, On-campus
Duration: 2 years
Fees: €39,000
Intakes: Aug
Placement: 97% -
EBS Business SchoolMaster in Finance (MSc/ Double Degree)Full- time, On-campus
Duration: 1-2 years
Fees: €8,950-€13,500 per sem
Intakes: Jan, Aug
Placement: 93% -
EU Business SchoolMaster in FinanceFull- time, On- campus
Duration: One year
Fees: €15,600 (full)
Intakes: Oct/ Jan, Apr
Placement: 96% -
Goethe Business SchoolMaster in FinancePart-time
On-campus/Online
Duration: 12 months
Fees: €20,500
Intakes: April
Placement: 92% -
University of MannheimMaster in Management- Specialization in Banking and FinanceFull- time/On- campus
Duration: 2 years
Fees: €1,500 per sem
Intakes: Sep
Placement: 95% -
Technical University of MunichMSc Finance and Information ManagementFull- time/On-campus
Duration: 2 years
Fees: 0- €6,000
Intakes: Oct
Placement: 94% -
Berlin School of Business and Innovation (BSBI)MSc Finance and InvestmentFull- time/On- campus
Duration: 18 months
Fees: €13,250 (MSc)
Intakes: Feb/ May/ Oct
Placement: 82% -
University of Europe for Applied SciencesMBA Financial Management
MBA Financial Risk ManagementFull- time/On- campus
Duration: 1-1.5 years
Fees: €12,900 (first year)
Intakes: Sep, Jan
Placement: 93% -
International School of ManagementMSc FinanceFull- time
On-Campus/Online
Duration: 2 years
Fees: around €25,920 (full)
Intakes: Sep
Placement: 62%
Which University is Best for Finance in Germany
From the above-curated list and from references from top-ranking institutions like QS, Times Higher Education, and more, these may be the best universities according to your preference:
- If you select universities based on QS Rankings, WHU (Otto Beisheim) and Frankfurt School of Finance and Management are the top 2 choices. Besides, the EU Business School also got QS 5-star ratings.
- If fees are your concern, you can consider EU Business School, the University of Europe for Applied Sciences or TUM University of Mannheim is also cheaper.
- Frankfurt School of Finance- Ranked 15 in salary worldwide (77.600 EUR) followed by WHU and EBS. These universities are well known for great placements.
- If you’re looking for a balance between affordable fees and high placement rates, the University of Mannheim and the Technical University of Munich are strong options.
Master in Finance in Germany eligibility
- Academic Requirements:
-A relevant undergraduate degree in fields such as finance, economics, business administration, or related disciplines.
-Have a score of at least 75% or higher.
-Should be from an accredited institution.
- Entrance test Scores:
-GMAT: 555 or above
-GRE: 316 or above
- English Language Requirements:
-IELTS: Overall 6.5 or above
-TOEFL: Overall 97 or above
-PTE: At least 60 or above
-CPE: Grade C
-CAE: Grade A
-If the course is taught in German, you may be required to submit a German language proof in place of English.
- Work Experience:
-A minimum of 12 weeks/ 480 hours of practical experience in a business- role. (this may not be compulsory for every university)
Documents Required
- Passport copy
- Language test proof
- Entrance test scores
- Statement of Purpose
- Letters of Recommendation
- Curriculum Vitae
- APS Certificate (for students from certain countries; typically Chinese, Vietnamese or Indian students)
How to apply for a Master in Finance in Germany
- Research universities & eligibility – Look for universities offering the program and check the complete requirements. You can check the general eligibility above. (interlink eligibility here)
- Check language requirements – Verify if you have TOEFL/IELTS (for English-taught) or TestDaF/DSH (for German-taught) test scores or not. Make sure they should not be older than 2 years.
- Apply via Uni-Assist (if applicable) – If you obtained your Bachelor’s degree outside Germany, apply for a Preliminary Review Documentation (VPD) via uni-assist before the deadline, but the VPD itself can be submitted later.
- Apply via university portals – Submit applications through university websites and upload required documents like transcripts, CV, motivation letter, recommendation letters, language proof, and VPD if required.
- Pay application fees (if applicable) – Some universities charge a fee while public universities like TUM do not.
- Attend interviews (if required) – Some universities conduct online tests or interviews to assess applicants.
- Receive admission decision – Universities typically announce results within a few weeks to months.
- Apply for a student visa – Once admitted, apply for a Germany student visa and arrange for finances.
- Prepare for arrival & enrollment – Secure accommodation, get health insurance, and complete university enrollment upon arrival.
How much does it cost to study Finance in Germany
Here’s a breakdown of how much does it cost to study Finance in Germany:
- Tuition Fees- Public universities like TUM and Goethe University charge a semester fee of €0- €6,000, while private universities like Frankfurt School of Finance & Management can cost €15,000–€39,000 per year.
- Living Costs- Monthly expenses range between €934–€1,500, covering rent (€400–€800), food (€200–€300), health insurance (€110–€150), transport (€50–€100), and personal expenses (€150–€250).
Estimated Annual Cost
–Public Universities: €11,208–€24,000 (including tuition and living expenses).
-Private Universities: €26,208–€57,000 (including tuition and living expenses).
*Fees at public universities like TUM are free for students from Germany, the EEA (EU + Iceland, Liechtenstein, Norway), or equivalent/agreement states, as well as those with a higher education entrance qualification (e.g., Abitur) or a bachelor’s degree from the German education system.
Scholarships to study Finance in Germany
Some of the university-specific scholarships to study Masters in Finance in Germany are as follows:
WHU Merit Scholarship
As the name suggests, the WHU merit Merit Scholarship is awarded to meritorious students of WHU (Otto Beisheim) with an above-average GMAT or GRE score.
Offered by: WHU (Otto Beisheim)
Amount: 25% of the tuition fees
Application Process: There is no separate application required.
Application Timeline: The scholarship is awarded on a first come first serve basis so try to apply for the course as early as possible.
Frankfurt School Master’s Scholarship
The Frankfurt School of Finance & Management offers merit-based scholarships to outstanding candidates applying for their pre-experience master’s programmes, including the Master in Finance.
Offered by: Frankfurt School of Finance & Management
Amount: Partial tuition fee reduction (15%, 25%, or 50%)
Application Process: You must answer a scholarship-related question in the online application form for the master’s programme. No separate scholarship application is required.
Application Timeline: Completed applications for master’s programmes before June, 2025.
University of Europe for Applied Sciences (UE) Scholarships (H3)
The University of Europe for Applied Sciences offers various scholarships to support international students pursuing master’s degrees, including finance programs.
Offered by: University of Europe for Applied Sciences (UE)
Amount: Varies; some scholarships cover up to 100% of tuition fees
Application Process: You must apply for your chosen master’s program at UE and indicate the interest in scholarships during the application process. Specific scholarships may require additional application materials, such as a motivation letter or portfolio.
Application Timeline: Deadlines vary depending on the scholarship; you should check the specific dates for each scholarship program beforehand.
Check out more Scholarships to Study in Germany as an international student.
Jobs after Masters in Finance in Germany
Graduates with a Master’s in Finance in Germany can anticipate competitive entry-level salaries, with variations depending on the specific role, industry, and location. Here’s an overview of some of the highest-paying entry-level positions:
| Job Role | Average Entry-Level Salary |
|---|---|
| Investment Banking Analyst | €60,000 to €85,000 annually. |
| Financial Analyst | €50,000 to €65,000 annually. |
| Risk Analyst | €55,000 to €75,000 annually |
| Asset Management Associate | €50,000 to €70,000 annually |
| Private Equity Analyst | €60,000 to €80,000 annually |
FAQS
Yes, a Master’s in Finance in Germany is worth it due to low tuition fees, strong job market, and global recognition. However, consider the language barrier and competitive admissions before applying.
You can work with companies like Adidas, Allianz, Bank of America, Barclays, Goldman Sachs, JP Morgan, PWC, etc.
Financial Analysts in Germany can achieve substantial salaries, particularly with increased experience and responsibilities. The highest salary you can earn as a Financial Analyst in Germany could be up to €107,000 or more depending on your experience.