German universities offer high-quality MBAs that are relatively affordable. In this article, EDUopinions explains why it is worth doing an MBA in German, how much it costs to study and live there, and what are the five most affordable programmes.
Is it worth doing an MBA in Germany?
In the past few years, Germany has been proving that its education is of high quality, even though it is less commonly known. Indeed, several German universities consistently rank among the best higher education institutions in Europe. They also offer more and more programmes in English. Furthermore, we cannot forget that Germany hosts several branches of big companies like Adidas and Google, which offer great career prospects. Finally, and most importantly, EDUopinions student reviews suggest that students are very happy with their studies in Germany.
How much does it cost to study an MBA in Germany?
Even though education is famously free in Germany, it does not apply to MBAs. Nevertheless, German MBAs are still cheaper than in most other countries. For example, the average price of an MBA in the USA is USD60,000 for two years, whereas it costs around EUR20,000 in Germany (including much cheaper options). Additionally, there are several scholarship opportunities, and the high level of education provides you with great value for your money.
What is the cost of living in Germany?
Life in Germany is not particularly expensive, but definitely not cheap, especially in cities. Indeed, you should be ready to spend EUR800 or more on rent, charges, food and transportation. Nevertheless, your student status gives you great advantages for leisure activities, such as museums, theatres, restaurants and gyms. Overall, we think that you can live very comfortably with EUR900 per month.
EDUopinions’ list of The 5 Most Affordable MBAs in Germany
International Management MBA at CBS International Business School
The CBS International Business School, located in Cologne, offers a 120 credits MBA. In other words, completing this English-taught degree takes two years. It is catered towards students without an economics or business background. The first two semesters focus mostly on theory courses and skill courses are added as you advance in the programme. Then, during the third semester, you take part in a business project. This means that you are given a real-life case that you analyse. Then you present your findings to representatives of the company that provided the case. Additionally, you follow simulation games to train your business skills.
The cost of this international MBA is EUR11,700 per year. Just like for any other MBAs, there exist several nationwide scholarships that you can apply for. However, CBS also runs its own financial help programme.
Master of Business Administration at OHM Professional School
The OHM Professional School, located in Nuremberg, offers a 60 to 80 credits MBA which is flexible. Indeed, the programme can be personalised for you depending on whether you have an economics and business background or not. In the latter case, the programme is one semester longer and subsequently a bit more expensive. Until the spring of 2021 included, the full programmes respectively cost EUR15,000 and EUR18,000. However, the price will change to EUR18,000 and EUR21,000 in October 2021. Note that an extra fee of EUR127 is required per semester.
All classes take place in the evening and on Saturdays. Generally speaking, the degree is internationally driven and focuses on international marketing, applied leadership and social competencies, and strategic management. You have the option to spend a week abroad at partner universities in the USA and China. Furthermore, you also get the opportunity to collaborate with companies like Siemens AG, Schwan Stabilo or Fraunhofer IIS.
Master of Business Administration Part-Time at Mannheim Business School
The Mannheim Business School, located in Mannheim, is known for its world-class research and teaching and its strong practice orientation. Moreover, it is highly international and offers the 9th best MBA in Europe, according to Forbes‘ ranking. Following this 120 credits master of business administration will cost you EUR13,164 per year. You can reduce this cost by applying as an early bird (by January 31st 2021) and receive a EUR3,000 discount. You can also take a bit more time to decide, apply by the 30th of April and still receive a EUR2,000 discount. Furthermore, the school has its own scholarship programmes, including a scholarship for women in business and another one for outstanding candidates.
Berlin Full-Time MBA at Berlin School of Economics and Law
The Berlin School of Economics and Law is located in Berlin. Its MBA is based on interactive and activity-based training to emphasise social skills and soft skills. Through the 90 credits of the programme, you are given the opportunity to specialise in particular fields, like in any other MBA, but also to focus on specific regions of the world. For example, you can specialise in Asian business or partnerships with American companies. Additionally, you can take study trips to your places of interest as the university has developed partnerships with more than 150 universities across the world. The entire programme costs EUR19,800.
Master of Business Administration at Nordakademie Graduate School
The Nordakademie Graduate School has its main campus in Hamburg but offers its MBA on its Elmshorn campus. This programme attracts students with and without an economics or business background, as long as they have at least one year of professional experience. It is really catered towards individuals who want to continue working during their studies, as it can only be followed on a part-time schedule. The school offers continuous personal support online throughout the entire degree, which can be followed in German or English. This 90 credits programme offers you the option to take part in the international week in the USA, China or Russia. Furthermore, it emphasises research and can lead to great PhD opportunities. It costs EUR7,500 per year.
Conclusion about The 5 Most Affordable MBAs in Germany
As numerous MBAs are offered worldwide, we hope that this article provided you with great input from Germany. However, do not hesitate to look at The Best MBAs in The Netherlands or even The 10 Best Online MBAs.
Editor’s note: This article was first published on the 16th of November 2020. We’ve updated it for current readers.