‘Oktoberfest’ is not the only thing in Germany that attracts international visitors. Education is the other attraction, though it doesn’t get as much media attention. In this video, we’ll cover the reasons why Germany is becoming a popular destination for international students, and the list of the top business schools, their rankings, tuition, and graduate salaries. We’ll end the video with a word of caution. So watch till the end.
Germany is a pioneer in technology, research, and innovation. Its economy is the largest in Europe and 4thin the world. It is far more stable than the American economy, which though the biggest, suffers from volatile highs and lows. Germany is also home to some of the best universities in the world, four of which are in the top 100 and eleven in the top 200. The icing on the cake is that tuition is virtually free in German public universities.
Germany has over 300,000 international students. That’s over 11% of the total student population. It’s expected to cross 350,000 in a few years. So, where does a German MBA feature in this story? Even though Germany has not been traditionally considered a top destination for MBA programs, it’s getting there gradually.
Germany’s Mannheim Business School and ESMT feature among the top 100 business schools in the Financial Times Global MBA Rankings. You’ll find a few more in the top 250. Germany hasn’t played the MBA Rankings game as effectively as many other countries. But there are other clear advantages of getting a business degree in Germany.
Let us look at some of the benefits of studying in Germany. Germany needs more skilled professionals. There is a growing deficit in Germany’s labor force. With birth rates extremely low, Germany runs the risk of losing out on highly skilled labor. That’s one of the top concerns to keep the formidable economy afloat.
According to estimates, there will be a shortage of nearly 7 million workers in the labor force by 2025. To address the gap, Germany will need roughly1.5 a million experts from abroad. It’s a national priority for Germany to attract and retain highly educated & skilled professionals.
To that effect, Germany has begun an EU BlueCard work permit. Germany offers a favorable work-life culture Besides opening up access to the rest of the EU, Germany also boasts of an extremely healthy work-life balance. The labor laws are strong. On average you can enjoy less than 40 hours of work weeks.
And you’ll get 30 days of leave to practice your yoga in peace. And if that is not enough, Germany is also ranked as a top country to raise a child. Parental leave, as they call it, is an entitled period of time off from work for both parents until their child turns three. It totals 14 months and can be taken up by each parent separately or jointly. Their jobs are protected and they also qualify to receive up to two-thirds of their income in their time of absence! That is Germany’s generous way of throwing new parents a baby shower.
Most Germans speak in English quite fluently, especially in the big cities. But there’s a catch and we’ll come to that soon. Germany features among the top 20 countries in demand for MBA graduates, and among the top 10 countries with the highest post-MB Salaries.
Given that German tuition fees are considerably lower than the US, you may expect a fairly debt-free existence. Property prices are reasonable and can offer a very comfortable lifestyle for residents. Here’s a quick summary of the cost of living in Germany for 2 popular cities. The rest of Germany is a slight variation in these numbers.
Crime is quite low and the Quality of Life is very high. Let’s move on to the top MBA programs. Here’s a list of the best B-Schools in Germany for an MBA degree. Let’s look at the program duration and tuition fees you can expect. And finally, here’s a list of the best executive MBA programs in Germany With all the good things we’ve talked about, there are some challenges that international students should be prepared for.
The two big ones being – language issues and cultural disconnect. Knowing German can improve your chances of getting good jobs in Germany after your MBA. So, if you are seriously considering Germany’s higher education destination, you may want to consider taking up German lessons. Before applying make sure you research each program and how it fits with your requirements and career goals. Good Luck 🙂