This does not mean that the MBA programs in Germany are no good. Schools such as ESMT and Mannheim are constantly moving up in rankings, quality of learning and career opportunities. Studying for an MBA in Germany has several advantages:
- Most of the MBA programs in Germany are of 1 year duration
- The average salary levels that you can expect are between € 60,000 to € 90,000
One may want to consider the following criteria while deciding on target schools & MBA programs:
The average salary levels at German MBA programs are € 60K to € 90K as compare to US schools where the average salaries offered are between $100K to $130K. You must also consider the cost of living between the two countries. In US, it vary vastly depending upon which part of country & which city you live in.
US business schools charge tuition fees in the range of $110K to $140K . On the other hand, the German business schools’ tuition fees are in the range of € 20K to € 40K. So, if you are considering an education loan, you should also consider how much education loan you could manage and how much debt you are willing to take.
Most German programs are of 1 year duration. So, the opportunity cost of losing on your current salary would be lower as compared to US programs. But, the differential in post & pre MBA salary is higher in US so in the long run (considering higher tuition). This should make up for the opportunity cost.
Most of MBA programs in Germany have less than 50 students in their batch while in US programs, the class size in most cases will vary from 100 to 800. Smaller class sizes facilitate better interaction, whilst larger batches allow for more networking. You would find a higher percentage of International students in German MBA programs as compared to US. Hence, any batch would be comparatively more diverse, International & rich in learning experience. Additionally, you would also require a higher GMAT score to get into good US MBA programs, while the average GMAT at German programs would be in between 600–650
German business schools will have better connections with companies based in Germany. So, you will have far greater opportunity to work/intern in Germany after completing MBA from Germany. Same applies for US business schools.
Knowing German language would be a big positive but it will not be deal breaker if you are graduating from a top German MBA program.