11 Reasons Why You Should Pursue MBA In Germany?
Germany, in a little time, has become one of the appealing study destinations for international students. And, the program that attracts the most international students from across the globe is MBA. Germany has excellent MBA education, world-class business schools, numerous work opportunities and a very stable economy conducive for MBA aspirants. This article highlights the reasons to why should students pursue MBA in Germany.
Top reasons to study MBA in Germany
1. World-class Business Schools
Germany is home to world-class business schools, with two of its b-schools ranked in the top 100 Global MBA Rankings 2017 published by FT (Financial Times) – Manheim Business School (rank 54) and ESMT Berlin (rank 70). Other recognized b-schools in Germany include WHU – Otto Beisheim School of Management, Frankfurt School of Finance and Management, EBS and HHL Leipzig Graduate School of Management, to name a few. The country has made its name in the field of MBA education and there is definitely a beeline of international students from across the world who want to study MBA in Germany.
2. Range of Specializations and Types of MBA
Germany offers a wide range of specializations, such as Marketing, HR, Finance, Innovation and Entrepreneurship, Leadership, International Marketing, Strategic Management, Global Management, International Healthcare Management, Technology Management, Entrepreneurial Management, Information Management, etc. Also, there are several different types of MBA offered in Germany, such as Dual MBA, General Full-time MBA, Executive MBA and Part-time MBA.
3. Affordable MBA Programs and Living Cost
Germany is a viable option for those who wish to pursue MBA abroad. The tuition fee for the business schools is generally less expensive than USA and UK. In terms of living cost, Germany is affordable as compared to other European countries. Plus, there are several concessions and discounts available to students.
4. Excellent MBA Education
The business schools in Germany have internationally renowned professors and faculties. The facilities, faculties and infrastructure are excellent. There is a blend of theoretical and practical learning. Along with this, internship is mandatory in all the MBA programs in Germany, which helps in gaining hands-on experience, plus monetary benefits come along.
5. Working part-time while studying
International students who want to pursue MBA in Germany are allowed to work part-time for up to 240 half days when the university is in session or 120 full days. The stipulation is that you must be a full-time student.
6. Flexibility in the MBA program
The duration of MBA program in Germany varies, like the full-time MBA in Germany is about 12-24 months, while the Executive-MBA runs for 18 months. The mode of study is flexible too.
7. MBA without GMAT
GMAT is an integral element of the admission process. However, there are some business schools in Germany that accept international students without a GMAT score. Such b-schools give more weight to the work experience of the candidates.
8. No dearth of MBA Jobs
Germany is one of the largest national economies in Europe. The country is home to numerous multinational companies of the world and also many German companies have their set up in different parts of the world, thus one can return to their home country and get the job in the same company at similar salary. The MBA job market in Germany is diverse with major hiring done by the consulting firms, software and technology companies, and financial firms. Most of the business schools in Germany are in collaboration with the well-known companies in the country as well as globally, thus resulting in higher recruitment of its students. It is one of the best countries for fresh graduates to explore MBA job opportunities.
9. High MBA Salaries
Germany is the seventh best country in the world in terms of MBA salaries offered by the employers. WHU Otto Beisheim School of Management has an annual mean MBA salary of $99,000; Mannheim Business School offers an annual mean MBA salary of $113,000 for MBA graduates. The average salary of MBA graduates working as Business Development Managers in Germany ranges from $41,411- $84,149; of Project Manager in the field of IT ranges from $69,299-$78244; of Marketing Manager ranges from $37,400-$69,914; and of Financial Analyst ranges from $42,615-$62,333.
10. Scholarships Abounds for MBA in Germany
Numerous scholarships are available to students who want to pursue MBA in Germany. DAAD (Deutscher Akademischer Austauschdienst, or German Academic Exchange Service), the world’s largest scholarship organization offers a variety of scholarships to international students. The business schools in Germany also offer scholarships to outstanding MBA aspirants, such as the WHU Otto Beisheim School of Management, ESMT, the Mannheim Business School, the HHL Leipzig Graduate School of Management and the Frankfurt School of Finance and Management; all offers scholarships to talented students from across the globe.
11. Learn German language that opens new doors
While doing MBA in Germany, students have an opportunity to learn German language, which when added to your profile will increase your chances of getting hired. Knowledge of an extra language will give you an edge in your career, and not to mention the job market today considers multilingual candidates, they are highly sought after.