Master’s in Finance in Germany: What You Need to Know

Thinking about pursuing a Master’s in Finance in Germany? It’s a smart move! Germany is one of Europe’s biggest financial hubs, home to top banks, investment firms, and fintech startups.

Why Study Finance in Germany?

• Study at top-ranked institutions like Frankfurt School of Finance, Goethe University, and Mannheim.
• Many top finance programs charge zero tuition fees, which makes Germany one of the most affordable study destinations.
• Finance graduates in Germany earn between €50,000–€120,000 (₹45–₹108 lakh) per year, depending on experience and role.
• Gain experience at major financial institutions like Deutsche Bank, Allianz, and Commerzbank.
• International graduates can stay in Germany for up to 18 months after completing their degree to find a job.

From top universities and tuition fees to admission requirements, scholarships, and job prospects, this page has everything you need to know about studying finance in Germany.

Quick Facts About Master’s in Finance in Germany

Top Universities for Master's in Finance in Germany

Germany is a top destination for finance studies. The country offers globally recognized degrees, strong industry connections, and excellent job prospects. 

Best Universities for Master's in Finance in Germany

What’s the Best University for You?

• If you want big finance industry connections, choose Frankfurt School of Finance or Goethe University.
• For high salaries and global placements, WHU and EBS are top picks.
• Looking for a tuition-free option? LMU, Mannheim, Cologne, and TUM offer excellent finance programs with zero tuition fees.

Eligibility Criteria for a Master’s in Finance in Germany

The demand for finance experts in Germany has increased by 12% in the last year, with more than 60,000 open job positions in banking, investment, and fintech (Source: Bundesagentur für Arbeit).

If you’re planning to study finance in Germany, here’s a breakdown of the eligibility criteria.

Who Can Apply?

Most universities require a bachelor’s degree in finance, economics, business, or a related field. Some also accept students from STEM backgrounds, provided they have relevant coursework in finance.

GMAT/GRE: Are They Required?

Most public universities in Germany do not require GMAT/GRE, but some private business schools and highly competitive programs might ask for them.

Language Requirements: English vs. German-Taught Programs

Finance programs in Germany are offered in both English and German. Based on your chosen program, you’ll need to prove proficiency in the relevant language.

Note: While many finance programs are taught in English, learning basic German can help with internships and networking. Learn more about why German language skills matter.

Work Experience: Is It Necessary?

Most MSc Finance programs do not require work experience, but some business-focused programs prefer applicants with at least 1-2 years of experience in banking, investment, or financial consulting.

How to Apply for a Master’s in Finance in Germany?

Step 1: Shortlist Universities

Germany offers both public and private universities for finance studies.

Tip: Not sure which universities fit your goals? Check out this guide on Germany’s education system.

Step 2: Check Application Deadlines

German universities have two major intakes:

Note: Some universities offer rolling admissions, so applying early improves your chances.

Step 3: Prepare Application Documents

Each university has slightly different requirements, but most require:

Tip: A well-written SOP and strong LORs can help compensate for a lower GPA if you have relevant finance experience.

Step 4: Apply Through University Portals

Most public universities in Germany use Uni-Assist, a centralized application system for international students. Some private universities have their own application portals.

Pro Tip: Apply to 4-5 universities to increase your chances of acceptance.

Step 5: Receive Admission & Open a Blocked Account

Once accepted, you’ll receive an offer letter. To secure your seat:

• Accept the offer
• Pay the semester contribution fee (€150–€350 per semester / ₹13,500–₹31,500)
• Open a Blocked Account (€11,208 / ₹10 lakh required for visa)

Want to know how to study in Germany with little to no tuition fees? Check this guide on studying in Germany for free.

Step 6: Apply for a Germany Student Visa

International students need a Type D Student Visa, which takes 6-12 weeks to process.

For a complete visa guide, check this detailed Germany student visa process.

Cost of Studying a Master’s in Finance in Germany

Germany is one of the most affordable study destinations for international students, especially with tuition-free public universities. However, living expenses and private university fees can add up. 

Germany is home to some of the world’s top finance hubs, including Frankfurt, Munich, and Berlin. The average salary for finance graduates in Germany ranges from €55,000–€80,000 per year (₹49–₹72 lakh) (Source: Glassdoor).

Tuition Fees: Public vs. Private Universities

Most public universities in Germany charge zero tuition fees for both domestic and international students. However, students must pay a semester contribution fee ranging from €150–€350 per semester (₹13,500–₹31,500).

On the other hand, private universities charge tuition fees ranging from €10,000–€35,000 per year (₹9–₹32 lakh), depending on the program and university ranking.

Here is a comparison:

Want to know how to study in Germany for free? Check out this detailed guide on tuition-free education.

Living Costs in Germany

Your cost of living depends on the city you study in. Berlin and Leipzig are budget-friendly, while Munich and Frankfurt have higher costs due to strong finance job markets.

Tip: Students can save money by living in university dorms (€250–€400 per month / ₹22,500–₹36,000) and using student discounts on public transport.

For a detailed breakdown of expenses, check out this cost of studying in Germany guide.

City-Wise Cost Comparison: Berlin, Munich, Frankfurt

Which German City is Best for Finance Students?

Final Tip: If you want maximum career opportunities, Frankfurt and Munich are the best choices. If you want a balance of affordability and jobs, Berlin or Hamburg are excellent alternatives.

Career Opportunities After a Master’s in Finance in Germany

Germany has one of the strongest finance sectors in Europe, with Frankfurt alone handling over €4.3 trillion in assets (Source: European Central Bank). The finance sector in Germany is expected to expand by 10% over the next five years (Source: Germany Trade & Invest).

If you’re looking at salaries, read further to know what finance professionals in Germany make.

Top Finance Job Roles & Salaries in Germany

Finance careers in Germany are highly rewarding, especially in Frankfurt, known as the country’s financial capital. To explore long-term career growth and salaries, check out this career opportunities in Germany guide.

Post-Study Work Visa & PR Opportunities

Germany offers international finance graduates a clear pathway to stay and work after completing their degree.

Internships & Work Opportunities for Finance Students in Germany

A finance internship in Germany can increase the chances of employability, as top firms prefer candidates with industry experience. Many universities offer structured internship programs with leading banks and investment firms.

Where to Find Finance Internships in Germany?

• Investment Banks: Deutsche Bank, Goldman Sachs, J.P. Morgan
• Financial Consulting Firms: PwC, KPMG, EY, Deloitte
• Fintech Companies: N26, Solarisbank, Raisin
• Corporate Finance Divisions: Siemens Financial, BMW Finance, SAP Finance

How to Apply for Finance Internships?

• Check University Career Portals – Many universities have exclusive finance internship programs.
• Use Job Portals – Platforms like LinkedIn Germany, StepStone, and Glassdoor list paid internships.
• Network at Finance Meetups – Events in Frankfurt and Munich are excellent for connecting with recruiters.

Want to work while studying? Learn about part-time jobs in Germany for students.

Scholarships for a Master’s in Finance in Germany

Germany offers numerous scholarships to help finance students reduce tuition and living costs.

How to Improve Your Scholarship Chances?

• Maintain a GPA above 3.0 (on a 4.0 scale).
• Write a strong SOP (Statement of Purpose) explaining your career goals in finance.
• Apply early, as many scholarships have deadlines 6–12 months before intake.

Looking for more financial aid options? Check out the scholarship guide for Indian students in Germany.

Student Life in Germany for Finance Students

With top universities, affordable living costs, and a growing finance sector, Germany is a great place to build a career.

How Affordable is Student Life in Germany?

Germany is known for low tuition fees at public universities and a relatively affordable cost of living compared to other finance hubs like London or New York. Germany is 30-50% cheaper than studying in the UK or USA, especially when it comes to tuition fees.

Part-Time Work for Finance Students

Many finance students take up part-time jobs to support themselves. Germany allows:

120 full days or 240 half days of part-time work per year
Finance-related part-time roles in banks, consulting firms, and university research
Hourly wage: €12–€20 (₹1,080–₹1,800)

Tip: Many students find jobs as research assistants in finance departments or part-time analysts at investment firms.

Networking & Industry Exposure

Germany’s finance sector is expanding, and students have access to some of Europe’s top finance events:

• Frankfurt Finance Summit – Meet investment bankers and fintech leaders.
• Berlin FinTech Week – Great for networking with startups and tech-driven finance firms.
• University Career Fairs – Many finance students land internships through university-organized networking events.

Is a Master’s in Finance in Germany Worth It?

Germany is one of the most affordable places to get a finance degree, but how does it compare to other top destinations? 

Pros & Cons of Studying Finance in Germany

Best for:
Students looking for low-cost education with strong finance industry connections
Those interested in working in European financial hubs like Frankfurt and Munich
Students who want an 18-month post-study work visa to explore job opportunities

May not be the best fit for:
✖ Students looking for immediate high salaries (USA and UK offer higher starting pay)
✖ Those who prefer an English-only work environment (learning German helps with job options)

Final Tip: If you’re considering finance careers in Germany, check out job options in Germany to explore in-demand roles.