The Best Guide to Understand the Benefits of an MBA in Germany

Why MBA?

The Master of Business Administration degree is widely regarded as one of the most prestigious programs in the world. It is well known for its curriculum, which combines theoretical knowledge with valuable practical experience. Candidates with an MBA degree from a reputable university receive a wide range of job opportunities. An MBA can help you break through a few glass ceilings on your way to the top of the corporate hierarchy. A higher salary is another positive outcome this degree has to offer.

Career advancement in the direction of management roles is the next facet MBA brings to the table. A few decades back, it was typical for graduates to begin and terminate their careers in the same company. However, today you won't see that happening. The levels of interest and patience have evolved, as have the corporate world's dynamics. In recent events, layoffs have become more common, so it’s crucial to look out for career shifts or growth when you anticipate your career graph stalling. 

This is where an MBA degree can prove extremely helpful to you. If you have been working as an executive software engineer for several years and want to advance to a project manager or product manager position, you can do so with an MBA degree.

The MBA curriculum includes business model analysis tasks, which teach MBA graduates how to examine a stock of information, figures, and data to forecast and mitigate dangers in business models. These tasks assist students in developing strategic thinking skills to create their own business plans. 

Eligibility Criteria for Pursuing MBA in Germany

Universities in Germany are typically funded by the state but are not primarily governed by it. In other words, the enrollment criterion and cut-off are determined independently by the various German institutions. As a result, each institution will have certain unique eligibility criteria, and aspirants should always verify with university authorities for the exact eligibility criteria of the course. 

To get admission into the MBA program in Germany, you must have completed the German equivalent of a bachelor's degree. It can be either a four-year bachelor's degree or a three-year degree plus a one-year master's degree in business administration. There is also a special provision for working professionals with relevant work experience and employer recommendation letters. To know about them, you should contact the universities international admission office. 

Apart from the minimum requirements, colleges might also demand students to pass and score a specific level in GMAT, GRE, IELTS, or TOEFL exams and have a basic understanding of the German language. For the courses taught in the German language, candidates will have to appear for TestDAF or DSH language proficiency tests. Following that, MBA interview rounds can also be conducted. However, these factors will depend on universities' admission criteria. So ensure that you get hold of all the details by communicating with admission councilors.

Why Study in Germany?

Germany provides a diverse range of MBA options and long-term career opportunities as a business education venue. Professionals seeking to play the role of aspiring managers are interested in getting an MBA in Germany due to its high-quality education, cheaper costs, and the presence of a booming economy. Students interested in pursuing higher education in Germany can select from a diverse range of programs and institutions.

Universities in Germany have dual enrollment for one calendar year, i.e., in January or September. However, admissions for the January session are extremely small. Students who choose Germany as their MBA destination can pursue the traditional MBA degree, which focuses on general management, or they can take a more unconventional approach and enroll in specialized MBA programs. These programs focus on niche industries such as healthcare management, agriculture management, rural management, consulting, logistics, etc. 

The fact that students can pick from such a diverse range of MBA programs has propelled Germany to the forefront of global education. There are a few more reasons Germany is the best study abroad destination. Moving forward, we will discover those reasons one by one in detail.

Benefits of Doing an MBA in Germany 

1. No Tuition Fees at Public Universities

In the last decade, Germany has made significant efforts to abolish tuition fees. This was a challenging undertaking since Germany is a decentralized federal republic, and it was enormously difficult to reach an agreement among all 16 federations. However, in October 2014, after a ton of efforts, the consensus was reached, and Germany is now offering ingress to free higher education to all students, regardless of their origin. This holds true for only public universities. So make sure if finance is your concern, you check whether the college you are applying for is deemed to be public.

2. Blocked Funds Are Relatively Lower

Before you reach Germany for higher education, you must apply for a national VISA. This VISA has a number of different requirements, one of them is to place a sum of money in a blocked bank account. These funds serve as proof that you have the financial means to cover at least one year's living expenses. Since there is no tuition fee in Germany, this amount is lower. You will just have to show the amount summing up your one-year living expenses such as rent, internet, food, etc.

Considering inflation, the mandatory amount required in the Blocked Account for studying in Germany as of January 1, 2022, is €10,332 for an entire year or €861 for a month. Candidates would have to keep a little more than the said amount as the bank could levy a service charge on the student opening a Blocked Account in Germany. This account should be opened once you receive the university joining letter.

3. Excellent Infrastructure and Educational Facilities

The majority of universities date back to the middle ages, with a substantial heritage of qualitative education and prominent names in various academic disciplines. Furthermore, Germany as a country places a great value on education, and this is reflected in the high-quality teaching seen in the country. Germany's top five business schools rank among the top 50 MBA institutions worldwide. The chart below shows the global and national rankings of Germany's top five business schools given by QS.

4. Part-Time Job Opportunities

According to German law, international students holding a student visa in Germany are permitted to work for 120 full days or 240 half days each year. During the semester, you can work 20 hours per week. But during holidays, you can work full time. This will not necessitate any form of permission. When you hold a national student VISA, you are immediately allowed to work 20 hours per week.

The remuneration for an hour’s shift is around 10 to 15 euros. However, you can also earn 15-20 euros per hour if you work for operations or call center communication jobs.

5. Better Job Prospects

Universities in Germany have revealed that their MBA graduates find jobs as quickly as three months after finishing the course and earn at least 55,000 Euros on average. QS has even named Germany one of the top ten countries globally for MBA salaries!

Here's a short rundown of the top career positions for MBA candidates, along with the average salary:

6. Learn German as a Second Language

Although courses will be taught in English keeping in mind international students, you can also study German which will improve your career options and income. Most MBA courses offer additional free and commercial language courses for anyone willing to learn. 

7. A Competitive International Experience 

A global MBA will always boost your resume and increase your chances of getting employed. Not only you will earn an MBA degree, but you will also be able to learn more about the global financial and management aspects. You will get to make new friends and establish business contacts with people from around the world, which will help you later on in life.

8. Range of Specializations and Types of MBA

There is a range of MBA specializations available in German universities which will catapult your career to the next level. These include, but are not limited to, HR, Finance, Innovation, Entrepreneurship, Global Management, Marketing, Strategic Management, etc. There are also several types of MBA that you can choose from such as Full-time MBA, Part-time MBA, Executive MBA, and Dual MBA.

9. Top Scholarship Programs for Pursuing MBA in Germany

Most German universities provide financial aid to international students with various scholarship schemes. You will have to visit the university website or www.daad.de to learn about university-specific scholarship programs. Besides that, a few more scholarship schemes are available for international students. Moving ahead, we will discover them. 

• Global Study Awards

This renowned fellowship is sponsored by Study Portals, ISIC, and the British Council. Each academic year, a few students are given merit-based scholarships. The maximum grant available through this scheme is GBP 10,000.

• Go Clean Scholarship

This fellowship scheme is given to devoted and hardworking students. Applicants who want to pursue an MBA in Germany can apply for the Go Clean Scholarship. Candidates for this merit-based scholarship must prepare a 500 to 750-word essay on the theme 'How to Keep the Environment Green and Clean.' This award is available just once each academic year and has a maximum value of USD 3,500.

• Central Sector Scheme of National Overseas Scholarship (For Indian Students)

The Ministry of Social Justice and Empowerment (Government of India) bestows this prestigious fellowship. The Central Sector Scheme of National Overseas Scholarship has been created to give financial help to chosen individuals pursuing their Master's Programs at approved Institutions/Universities overseas. This scholarship is open to all candidates who intend to study for an MBA in Germany and is offered to 100 students for one academic year. The maximum scholarship available to each student is USD 33,800.

10. Post-Graduation Residence Permit 

International students may need to apply for a residence permit once they have completed their MBA in Germany. German immigration laws are quite relaxed and allow students from non-EU countries a period of four years to search for a job in Germany that fits their educational qualifications. 

Conclusion

In this MBA In Germany article, you discovered intricate details about why pursuing MBA in Germany is worthwhile. In the beginning, you discovered why you should pursue an MBA degree and the eligibility criteria to apply for MBA program in Germany. Finally, you went through the benefits of studying abroad in Germany and details about a few fellowship programs.  

Simplilearn offers a blended (online + offline) business management program in collaboration with IU, Germany, that allows you to explore Germany as a study destination. With this PSW program, you can now take advantage of the best that IU has to offer: study on campus, establish an international management career and work in Germany. You can become a worldwide management industry leader with this master of business administration Mba course from IU Germany and London South Bank University. In addition, if you complete this course, you will be allowed to start a job in German firms with an 18-month post-study work visa.

If you have any queries or need clarification on any section of this article, please leave them in the comments section below; we will respond to them soon.