MIM in Germany: Universities, Cost, Eligibility

Masters in Management in Germany or more commonly referred to as MIM in Germany is an 18-24 months advanced postgraduate degree for students who wish to become successful leaders and gain knowledge in the area of management studies. Seen as an alternative to studying Master of Business Administration (MBA), MIM is a highly popular course in Europe and is designed for candidates looking to start their careers with little or no work experience. Germany is one of the many favoured destinations for studying a Master in Management (MIM) in Europe. According to Shiksha Study Abroad, in total, around 16 Universities in Germany offer MIM course. 

Germany with its state-of-the-art universities complete with modern amenities has proved itself to be a leader in the field of Masters in Management studies. Free education at Public universities in Germany, low cost of living, quality education, and great job opportunities are some of the top reasons to study in Germany for International students studying Master in Management in Germany. Successful graduates after completing their Masters in Management in Germany (MIM in Germany) can expect a starting remuneration of €48,000 - €93,000 annually. Read on as we talk about MIM Colleges in Germany, how to study MIM in Germany without GMAT and the best public universities in Germany for MIM studies.

MIM in Germany – Highlights

Some of the important highlights for MIM in Germany are given below: 

Particulars	Statistics
MIM Colleges in Germany	15+
Cost of Studying MIM in Germany	INR 10 L - INR 40 L
Cost of Living in Germany	Around €850 to €1,200 monthly
MIM Specialization	Business Analytics, Data Analytics, International Business, IT & Systems
MIM in Germany eligibility	Bachelor’s Degree + GMAT/GRE scores + IELTS/TOEFL/German Language Proficiency score + Statement of Purpose (SOP) + Letter of Recommendation (LOR) + resume + work experience

Best MIM Colleges in Germany

A few of the top-ranked MIM Colleges in Germany are WHU, University of Mannheim, Leuphana University, Frankfurt School of Finance & Management, the University of Siegen, etc. The rankings of a few of the top MIM Colleges in Germany are given below:

Universities	QS World Subject Rankings 2024: MIM
WHU (Otto Biesheim)	#22
University of Mannheim	#26
TUM School of Management	#27
EBS Business School	#41
Frankfurt School of Finance & Management	#43
ESMT Berlin	#63
HHL Leipzig Graduate School of Management	#72
EU Business School	#121-130

Read: Top-Ranked MIM Universities in Germany 

Top MIM Specialisations in Germany

Here is a list of top MIM Specialisations for Indian students looking to study MIM in Germany. The initial phase of studying MIM focuses on laying a strong foundation for management sciences and allied concepts like analytical skills, and statistical methods. While the latter phase focuses on various specializations that students can select as per their choice. The in-demand specializations for MIM in Germany are given below:

• Business Analytics
• Data Analytics
• International Business
• IT & Systems
• Business Economics
• Finance
• Mathematics
• Project Management

Cost of studying MIM in Germany

A few of the MIM universities in Germany that have no tuition fees are University of Siegen, Leuphana University, University of Jena, etc. The cost of studying MIM in Germany will be between INR 10 L – INR 40 L. While the majority of the universities listed on Shiksha Study Abroad have the tuition fee to study in MIM between INR 10 L – INR 20 L. The tuition fees for some of the MIM colleges in Germany are given below:

University	First-Year Tuition Fee
University of Tuebingen	INR 2.73 L
University of Mannheim	INR 2.73 L
International School of Management	INR 10.38 L
EU Business School – Munich	INR 14.21 L
Frankfurt School of Finance & Management	INR 16.16 L
Constructor University	INR 18.21 L
ICN Business School – Berlin Campus	INR 12.6 L

Cost of Living: To pay the living expenses Indian students may expect to spend between €850 to €1,200 monthly. The components included in the living expenses are accommodation, transportation, utilities, food, etc. Check the details for Cost of Living in Germany for International Students from here. 

German Study Visa

Candidates going to study in Germany would require a German Student Visa for their entire duration of stay. The student visa would also allow students access to part-time work for 20 hours a week for the entire duration of the study or 120 full or 240 half days per year. Candidates should note that on completion of their study, they would be allowed an eighteen-month (18 months) post-study period to find employment in their field of study. Students will have to pay around €110 as a visa application fee, which is INR 8,922.16 (1euro=INR 81.11). Generally, the processing time for a Residence Permit visa is 3 months (8 to 12 weeks). 

MIM in Germany Eligibility

Universities in Germany either have rolling admissions or fixed admission deadlines. Candidates are required to check the university website or get in touch with our Shiksha Counselling Services for assistance with the admission process to German Universities. However, candidates applying for Masters in Management in Germany are advised to apply early as there are many elements attached to the application process. Getting your academic profile ready, credentials in order, finances, scholarships and English proficiency tests are a few of the entails that are part of the admission process. Candidates looking to pursue MIM in Germany are required to fulfil these primary requirements:

1. Candidates must have a bachelor’s degree in a related field of study
2. German universities could require GMAT/GRE scores for admission (optional)
3. For pursuing MIM in Germany, students must have the below-mentioned language requirements:
   1. Knowledge of the German Language for admission to Public Universities in Germany by appearing for German Proficiency Tests
   2. Knowledge of the English language by appearing for the following English Proficiency Tests such as IELTS, TOFEL iBT or PTE 
4. Minimum of 2-3 years of work experience (subject to the university admission criteria) for getting enrolled in German universities. (optional)
5. Motivation letters [Statement of Purpose (SOP) / What is a Letter of Recommendation (LOR)] and Admission Essays
6. Copy of certificate as well as grades of all lectures in the pre-study

Work Permit after studying MIM in Germany

Students who have completed their MIM in Germany are eligible to work in Germany after their studies. International students can work for up to 18 months as part of their post-study work permit in Germany. This extended period of 18 months is called a post-study work permit in Germany. During these 18 months, candidates can work on their own initiative and take on any type of work to support themselves. However, if a student wants to permanently stay in Germany, he or she can apply for an ‘EU Blue Card’ - Residence Permit as early as two years after receiving their work visa. 

Scholarships to study MIM in Germany

All German universities recognize talent and they value this talent by providing merit-based scholarships that can be found listed on the official website of universities. Candidates should also get in touch with admission officers to inquire about scholarships and ways to apply for the same.

Candidates should note that it is important to apply to universities well ahead of deadlines to keep room for any special requests that the university might have as part of the scholarship application process. And there is a number of study abroad scholarships that are available to students wanting to study abroad provided by public and private organizations to promote education abroad. Candidates can check out the list of study abroad scholarships on our website. 

Not everyone would qualify for a study abroad scholarship. Students who don't qualify for financial aid can opt for an education loan to study in Germany. Candidates can apply to India's top education loan providers through Shiksha Study Abroad 

Job Prospects for Masters in Management in Germany

The study of Masters in Management has grown to be one of the most popular courses for Indian students wanting to study in Germany and rightly so. In Germany, studying Masters in Management involves the right amount of learning along with numerous training sessions in local and international companies to bring the best talents forward.

Speaking of the job aspects of pursuing MIM in Germany, candidates who have successfully graduated can expect to earn anywhere between €48,000. According to Emolument, the average salary for the MIM degree graduates will be around €93,000 per year. Some of the jobs after MIM in Germany that open up are for profiles are Consultant, Investment Banking, Corporate Finance, Financial Consulting, Business Development, Marketing, Operations, etc. Popular companies that hire MIM graduates in Germany are:

Companies	Average Salary
Amazon	€92,650
Koch Media	€52,000
NXP Semiconductors Inc.	€60,000
Wayfair	€35,000

(Source: Payscale.Com)

Struggling to choose between MBA and MIM? Check out the below video for more information:

Anurag Pal07-25-2024 14:14