The knowledge of how to run a business and manage the different entities within it is a universal need of any organization. Therefore, every organization in the world, across any industry vertical, seeks qualified and capable managers who can oversee, streamline and expand businesses, ensuring smooth and sustainable functioning of business processes. Hence, there is a steep demand for quality managers with both business acumen and know-how of industry best-practices all over the world. In the present times of diversification, there is also a great need for ‘non-general’ or niche managers, who possess the expertise in managing a specialized area of business. This means that managers today not only need to know how to run a business in general, they also need to know the domain (or sub-domain) that they operate in. As such, specialized MBA degrees have become the need of the hour and are offered by scores of universities overseas.
Although the US has been the forerunner when it comes to modern MBA degrees, Germany has slowly made a place for itself. Today, many German universities are ranked among the top-50 B-schools in the world. There are several reasons why Germany is slowly becoming one of the most promising avenues in the world to pursue an MBA.
Germany today is one of the leading economies of the world and is taking huge strides in business and technology. The colleges in Germany strive towards the idea of creating a proper business-oriented ambiance with a problem-based learning strategy. Also, more than 10 percent seats of Germany’s colleges are occupied by international students, which provide a truly cosmopolitan environment with people from a variety of backgrounds and ethnicities. Additionally, the cost of living in Germany is much less compared to other European countries.
Currently, Germany has a great demand for skilled professionals in every field. Thus to keep the economy agile and fill up this demand, the country is attracting more and more international students with lucrative paychecks across various verticals. Along with a huge demand for MBA graduates, Germany is also one of the top countries in the world offering the highest salaries post-MBA.
The tuition fee for MBA in Germany is prominently less; hence students applying here do not have to avail huge student loans. Additionally, students get the chance to learn German, which further increases their employability.
MBA courses in Germany are becoming widely popular since they are more centered on research and real-life application of the concepts taught. This helps improve students’ employability considerably and also enhances their critical thinking, team-building and decision-making prowess.
The duration of MBA programs in Germany may vary between 12 months to 24 months and some universities also provide students with the option to the complete their course in 15, 18, or even 20 months. Likewise, the criteria for enrolment too depend upon the program and the university chosen. However, here are a few basic criteria for MBA aspirants in Germany:
The average cost for studying in a full-time course at a good German B-school would range between 45000 and 55000 Euros. Interestingly, most MBA programs are offered in English, hence they also require students to take IELTS (cut off 7/9 bands) or a TOEFL iBT score (of more than 90/120) to get admission.
While doing an MBA, candidates can work either on or off-campus. Students can either work for 120 full days or 240 half days every year. However, for on-campus jobs, particularly in an assistantship, students can increase the number of hours after informing the immigration authorities. Students can also work in Germany for 18 months after the completion of the course to gain international industry-experience and know their best practices, which makes the country a great place to study Masters in Business Administration.
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