Germany has quietly emerged as a popular destination for Indian students who want to study abroad. Usually education in Germany has been associated with engineering. But surprisingly, it is now a powerhouse for finance education.
“Here is my call to all highly skilled Indians. Germany stands out with its stable migration policies, and with great job opportunities for Indians.” – Philipp Ackermann, German Ambassador to India (September 2025)
The value proposition is hard to ignore—world-class education at a fraction of the cost and one of the strongest economies in the world. Unlike the US, where a master’s in finance can set you back by ₹50–80 lakhs in tuition alone, Germany offers highly subsidized programs. For Indian students, a master’s in finance in Germany makes sense.
In this article we will look at:
- Top universities for finance in Germany
- Eligibility for a master’s in Finance in Germany
- Tuition fees for a master’s in Finance in Germany
and much more.
Top universities for masters in finance in Germany
Germany has both public universities and private business schools for international students.
Public Universities
Below is a table of the top universities for Masters in Finance in Germany. We have selected finance‑oriented master’s degrees (programs that are clearly finance/econ/quant oriented and commonly cited for finance).
List of top universities for finance in Germany (QS Ranked)
| University (Public) | City | QS Rank 2026 | Example Master’s Degree(s) | Notes |
| Technical University of Munich (TUM) | Munich | 22 | – MSc Finance & Information Management
– MSc Management & Technology (finance electives) |
– Quantitative, tech-finance orientation
– Largely in English |
| LMU Munich | Munich | 58 | – MSc Economics
– MSc Business Administration (finance/insurance tracks) |
– Top-ranked in econ/finance
– Some tracks or modules in German |
| Heidelberg University | Heidelberg | 80 | – MSc Economics (quantitative finance/econometrics content) | – Research-heavy
– Finance as economics track |
| Free University of Berlin | Berlin | 88 | – MSc Finance, Accounting and Taxation
– MSc Economics |
– FAT program is a common finance choice
– Check language per track |
| Humboldt University of Berlin | Berlin | 130 | – MSc Economics and Management Science
– MSc Economics (monetary/financial options) |
– Strong theory/quant focus
– Some specialisations in English |
| University of Hamburg | Hamburg | 193 | – MSc Business Administration (finance-oriented tracks)
– MSc Economics |
– Good option in major commerce city
– Some programs in English |
These public universities are almost free for both German and international students. There is a mandatory semester fee of about €200 to €400 per semester for administration and a public transport pass.
There is one exception. Public universities in the state of Baden-Württemberg charge €1500 per semester, but that translates to a mere ₹1,58,000 and is a lot cheaper than most business schools in India.
Private Business Schools
German private business schools charge tuition but offer smaller class sizes and direct placement support for international students.
| School | City | Program Name | Duration & Tuition Fee | Key Features & Placements |
| Frankfurt School of Finance & Management | Frankfurt | Master of Finance | 2 years (€42,000 total) | – Bloomberg terminals, Python coding, 3-day model (work-study)
– 91% employed in 3 months, average €77K starting salary – Top for IB/consulting in Frankfurt hub |
| WHU – Otto Beisheim School of Management | Vallendar | MSc Finance | 21 months (€43,900/year; €87K total) | – Europe’s top-ranked finance MiM
– Campus recruiting by Goldman, McKinsey, Deutsche Bank – 95% placement rate, €80K+ average starting salary |
| HHL Leipzig Graduate School of Management | Leipzig | Master in Management (Finance) | 21 months (€28,000 total) | – GMAT 600+ required; CFA-aligned curriculum
– Early bird discounts; strong corporate finance focus – 93% employed, average starting salary €65K-€75K |
Like many before her, Toula Poulopoulos benefited from guidance and support from GradRight during her application. You too can tap into GradRight’s vast expertise to help you choose the course, university and education loan for studying abroad.
Eligibility for a master’s in finance in Germany
The eligibility for a master’s in finance in Germany is clear and structured. Universities focus heavily on academic background and quantitative skills.
Here are the various requirements for admission to a master’s in finance in Germany:
Academic requirements
- You must have a bachelor’s degree in a STEM field or finance, accounting, or economics.
- Ideally you should have studied statistics, mathematics, or quantitative subjects previously.
- A German grade equivalent of 2.5 or better is standard. (~7.5+ CGPA in the Indian context).
- Top schools like TUM and Heidelberg often require 8.5+ CGPA.
Language requirements
- Proof of English proficiency (like IELTS/TOEFL) for English programs
- B2 to C1 level German for German-taught programs (TestDaF, DSH-2, or Goethe C1)
Though it is not mandatory, you would find it very difficult to live in Germany without knowing B1/B2 level German. This holds true even for students learning through English language programs.
“We recommend students and workers aim for at least B2 so they can manage daily tasks and civic life,” – Mukta Gadkari, Deputy Director Head of Language Department, Goethe-Institut Mumbai (December 2025)
GRE and GMAT scores
- Barring the University of Mannheim, GRE and GMAT scores are not required for public universities.
- Private schools such as WHU or Frankfurt School require GRE/GMAT scores.
Living costs in Germany
Germany sets a legal minimum for student living expenses. International students must show a minimum of €11,204 per year in a blocked account to obtain a student visa. This equals €934 per month.
Rent is the largest expense. Most Indian students stay in dorms and shared apartments, which are the cheapest options. Health insurance costs about €110–€130 per month and is mandatory.
Monthly Expense Breakdown (City-Wise)
| Expense | Munich (Expensive) | Frankfurt (Moderate/High) | Berlin/Leipzig (Affordable) |
| Rent (WG/Shared Room) | €700 – €900 | €550 – €750 | €450 – €650 |
| Health Insurance | €125 | €125 | €125 |
| Food & Groceries | €250 | €200 | €200 |
| Transport | Included in Semester Fee | Included in Semester Fee | Included in Semester Fee |
| Internet/Phone | €30 | €30 | €30 |
| Other | €150 | €120 | €100 |
| Total (Monthly) | ~€1,255 – €1,455 | ~€1,025 – €1,225 | ~€905 – €1,105 |
Jobs after a master’s in finance in Germany
Germany has a robust job market for trained professionals. Frankfurt is the undisputed financial capital and home to the European Central Bank, Deutsche Bank, and Commerzbank. Munich is the hub for insurance companies like Allianz, Munich Re, and private equity.
Tip: Potential career outcomes become easier to evaluate and compare when students use a platform like GradRight to find the most suitable courses.
The average starting salary for a finance master’s graduate in Germany ranges between €55,000 and €75,000 (approx. ₹50 lakh – ₹68 lakh).
| Job Role | Average Entry Salary (EUR) | Top Recruiters |
| Investment Banking Analyst | €70,000 – €90,000 | Deutsche Bank, Goldman Sachs, JP Morgan |
| Financial Analyst | €50,000 – €65,000 | Siemens, BMW, Bosch (Corporate Finance) |
| Risk Manager | €55,000 – €70,000 | Allianz, Munich Re, KPMG, EY |
| Consultant (Finance) | €60,000 – €80,000 | McKinsey, BCG, Roland Berger |
After graduating, students get an 18-month job search visa. Once they have a secure job, it is possible to apply for an EU Blue Card.
Conclusion
Germany offers Indian students a pragmatic alternative to high-cost courses from the USA. If you are an Indian student with a decent academic record, it is quite possible to do a master’s in finance in Germany at very little cost. At GradRight we offer support and guidance for students who want to study in Germany. Reach out to us with all your queries, and we shall help you explore thousands of master’s programs abroad.
