Study Finance in Germany: NC-Free, from €259/month

What will you study in Finance – and where can it take you?

A finance programme teaches the skills you need for a career in the financial industry – from financial analysis and accounting to investment and risk management.

Core study content

• Accounting & financial reporting: Bookkeeping, financial statements, IFRS, German GAAP (HGB), consolidated accounting
• Controlling & cost accounting: Operational and strategic planning, budgeting, performance measurement
• Investment & capital markets: Portfolio theory, derivatives, risk management, valuation methods (DCF, multiples)
• Corporate finance: Company valuation, M&A, financing strategies, capital structure
• Tax & business law: Tax law, commercial law, corporate law, compliance
• Banking & financial services: Credit analysis, banking regulation (Basel III/IV), asset management
• Data analytics & FinTech: Financial data analysis, blockchain, AI in finance, algorithmic trading

Career paths

• Banking & financial services: Corporate banking, credit analysis, portfolio management, insurance management – entry at savings banks, private banks or insurance companies
• Controlling & CFO track: Controller, financial manager, business analyst, Head of Finance – in corporations, SMEs and consulting
• Tax & auditing: Tax advisor, auditor, tax manager – at Big Four firms (Deloitte, EY, KPMG, PwC) or independent practice
• Investment banking & M&A: Analyst, Associate, Vice President – at investment banks (Goldman Sachs, J.P. Morgan, Deutsche Bank) or boutique advisory firms
• FinTech & innovation: Product manager, data analyst, business developer – at FinTech startups or bank innovation labs

WHU, Frankfurt School, EBS: Are Germany's elite finance schools worth the investment?

For careers in investment banking, asset management or top-tier consulting, Germany’s three leading finance schools offer unmatched access to the industry:

• Frankfurt School of Finance and Management (€36,500): Located next to the ECB and Frankfurt’s banking district – no other location in Germany offers comparable access to the financial industry. FT European Business School Ranking: regularly top 30. Graduates work at Goldman Sachs, Deutsche Bank, ECB and Bundesbank. Strongest finance placement in Germany.
• WHU Otto Beisheim (€37,200): FT Master in Finance Ranking: top 30 worldwide. Excellent alumni network in consulting and finance. Strong placement at McKinsey, BCG and in investment banking. Median starting salary: approximately €70,000.
• EBS University (€33,780): Triple Crown accredited (AACSB, EQUIS, AMBA). Strong specialisation in Real Estate Finance and Asset Management. Located in Oestrich-Winkel in the Rhine-Main region – close to Frankfurt.

All three programmes are taught in English and attract international cohorts. The investment pays off through exclusive alumni networks, recruiting events and a median starting salary well above the industry average.

English-taught programmes

Several finance programmes are taught fully or partially in English, making them accessible to international students:

• WHU Otto Beisheim: Master in Finance (M.Sc., €37,200) – FT top 30 worldwide. The strongest alumni network in German finance, with graduates at Goldman Sachs, McKinsey and leading PE firms.
• Frankfurt School: Master of Finance (M.Sc., €36,500) – directly in Frankfurt’s financial district, next to the ECB. Unmatched banking and finance placement in Germany.
• EBS University: Master in Finance (M.Sc., €33,780) – Triple Crown accredited. Specialisation in Real Estate Finance and Asset Management, with strong connections to the Rhine-Main financial hub.
• CBS International Business School: Global Finance (M.Sc., €34,380) and Controlling and Financial Management (M.A., €34,380) – international focus with strong corporate connections.
• ISM International School of Management: Finance (M.Sc., €25,920) and Finance & Management (B.Sc., €35,820) – multiple campus locations across Germany with international study trips.

Why study finance in Germany?

Germany offers unique advantages for international finance students:

• Europe’s financial centre: Frankfurt am Main is home to the European Central Bank (ECB), Deutsche Bank, Commerzbank and over 200 international banks. After Brexit, Frankfurt has attracted significant financial services business from London.
• EU Blue Card: Finance graduates with a job offer of €41,042+/year (2024 threshold for shortage occupations) qualify for the EU Blue Card – a fast track to permanent residency in Germany.
• 18-month job-seeking visa: Non-EU graduates can stay 18 months after graduation to find employment. Frankfurt’s financial sector actively recruits international graduates.
• CFA preparation: Several programmes (particularly Frankfurt School and WHU) integrate CFA curriculum content, helping you prepare for the Chartered Financial Analyst designation while studying.
• Affordable living: Compared to London, New York or Singapore, German financial centres offer significantly lower living costs while providing access to a €4 trillion economy and the eurozone’s largest financial market.

The Frankfurt advantage: why location matters

For international finance students, where you study matters as much as what you study. Frankfurt-based programmes offer a decisive edge:

• On-campus recruiting: Investment banks (Goldman Sachs, J.P. Morgan, Deutsche Bank), the ECB and Big Four firms recruit directly at Frankfurt School and, to a lesser extent, at nearby EBS. These recruiting events are rarely available to distance learners or students at universities in other cities.
• Working student positions: Frankfurt offers by far the highest concentration of finance working student positions (Werkstudent) in Germany – at banks, asset managers and FinTech firms. A working student role at €15–20/hour helps finance your studies while building your CV.
• Networking proximity: Industry events, CFA Society Frankfurt meetups and alumni gatherings happen regularly in Frankfurt’s financial district. Being physically present gives you access to a network that distance learning cannot replicate.
• Post-graduation hiring: Most German finance jobs are in Frankfurt. Studying there means you are already where the jobs are – no relocation needed, and employers can meet you for interviews at short notice.

If budget allows, choosing a Frankfurt-based programme (Frankfurt School, or EBS in nearby Oestrich-Winkel) over a cheaper distance option is one of the highest-return investments for an international finance career in Germany. If budget is the priority, IU and Euro-FH distance programmes from €259/month remain excellent, accredited alternatives – particularly for controlling, tax and corporate finance roles where networking plays a smaller role.

What do you need to get into a Finance programme in Germany?

Private universities in Germany are NC-free – motivation and aptitude matter more than grades.

• Bachelor: Secondary school leaving certificate equivalent to German Abitur. Some universities also accept professional qualifications (e.g., completed banking apprenticeship with work experience). Strong mathematics skills are particularly important for finance programmes.
• Master: First degree, usually in business, economics or a related field. WHU, Frankfurt School and EBS recommend a GMAT score of 650+ points.
• MBA: First degree plus professional experience. The HfFM MBA in Management of Financial Institutions targets senior professionals in the financial industry (taught in German).
• Language: German-taught programmes require B2–C1 German (TestDaF or DSH). English-taught programmes (WHU, Frankfurt School, EBS, CBS, ISM) require TOEFL (80+), IELTS (6.5+) or Cambridge Certificate.

What can you earn with a Finance degree in Germany?

Finance is one of the highest-paying fields of study in Germany. Salaries vary significantly by career path and employer type.

Salaries by career path

• Banking & financial services: €45,000–58,000/year entry, €75,000–130,000 with experience
• Controlling & CFO track: €42,000–52,000/year entry, €70,000–120,000 with experience – CFOs at corporations earn €200,000+
• Tax & auditing: €40,000–50,000/year entry (Big Four), €65,000–110,000 with experience – independent tax advisors often €120,000+
• Investment banking & M&A: €65,000–85,000/year entry (Analyst), €100,000–200,000+ as Associate/VP – plus substantial bonuses
• FinTech & innovation: €45,000–60,000/year entry, €70,000–120,000 with experience – plus equity at startups
• Elite graduates (WHU, FS, EBS): Median approximately €70,000/year entry – well above the industry average

Key salary drivers

The biggest salary drivers in German finance:

• Employer type: Investment banks and Big Four firms pay 20–40% more than regional banks or mid-sized companies
• Location: Frankfurt am Main pays the highest finance salaries in Germany, followed by Munich and Düsseldorf
• Certifications: CFA (Chartered Financial Analyst) or German tax advisor/auditor qualifications increase salary by 15–25%
• University reputation: Elite graduates (WHU, Frankfurt School, EBS) earn a median 30–50% more than comparable graduates from other universities

Frequently asked questions

Related fields of study

• Business Administration – the broad business foundation
• Management – leadership, strategy and organisation
• MBA – Master of Business Administration for experienced professionals
• Entrepreneurship – founding and innovation
• International Management – global markets and cross-cultural leadership
• Sustainable Management – sustainability and responsible business