Master in Management | Finance

Building business-ready skills at the crossroads of strategy and finance

At a glance

Program Start

  • September


  • 21-24 months


  • English

Application Deadlines

  • May 31 (Non-EU)
  • June 30 (EU)


  • Total: 120 ECTS
  • Finance: up to 85 ECTS

International Perspective

  • Mandatory term abroad
  • 140+ partner universities
  • Double degree option

Professional Experience

  • 1 mandatory internship (2nd and 3rd internship optional)
  • 1 mandatory consulting project

Become part of the HHL community and apply now

Take the first application step without the GMAT

Building business-ready skills at the crossroads of strategy and finance

Combine corporate finance expertise with profound management skills by joining HHL’s Master in Finance. We take you beyond standard thinking of short-run financial performance and company value maximization. Instead, we strengthen your abilities to critically reflect and to arrive at well-informed business decisions. Providing our students with competencies of sustainable impact is at HHL‘s heart of mind.

Get exclusive HHL content directly to your inbox

Keep yourself updated on cutting-edge topics about studying at HHL and events, tailored to your interests. Simply fill out the form for free!

Full-time Master in Management
Part-time Master in Management
Full-time Master in Entrepreneurship
Full-time Master in Management | Finance
Part-time Master in Management | Finance
Full-time MBA
Full-time MBA | Finance
Part-time MBA

Your data will be exclusively used for the handling of your application and will not be transferred to third parties. For more information about the processing of your data, please refer to the privacy statement.

Entrepreneurial University in Germany

Startup Radar by Stifterverband 2022

for graduates' salaries in Germany

FT Master in Management Ranking 2022

employment rate three months after graduation

FT Master in Management Ranking 2022

Any questions? Please feel free to contact us at any time

Jana Vogel
Director Program Marketing

Our Class Profile

Our Master Financial Management classes are marked by a unique team spirit that stems from a common goal and a shared philosophy. At HHL, our students quickly learn that we are stronger together. This belief underpins the strong network of friendships and business contacts formed throughout the studies and accompanies our graduates for life.

55 – 65

Students in the M.Sc. class


Students in the Finance class


International students


Average GMAT score


Average age

1.5 years

Average work experience

Discover the HHL spirit

You cannot grasp it, and yet it is everywhere: the HHL spirit. Our HHL spirit turns your studies into a unique experience.

The small and tight-knit community of students, alumni, professors and staff from around the world creates a community spirit that lives on after graduation.

Watch the video

Five reasons why you should choose HHL’s Master in Finance

HHL Ft Master Management Studenten Campus K

Connect strategy and finance

Our program is unique. On one hand, we will turn you into an expert in Corporate Finance, Asset Pricing and Data Analytics, on the other we build up your management competencies and strategy skills. Combining excellence in finance with entrepreneurial thinking and an open mind for innovation is at the heart of our program. Join us and experience how this setting sets you on track to becoming a business leader of the future.

Discuss with professionals and put concepts into practice

Our philosophy is to match academic excellence with key insights on practical challenges. There is no better way to gain such insights than by exchanging with experienced guest lecturers from venture capital, private equity, investment banking, financial management consulting or corporate divisions like corporate finance, M&A and business development. Beyond that, you get the opportunity to apply your acquired expertise instantly during our student consulting project and potential internships.


Master students in class

Develop your career with our award-winning support

Our renowned career service supports you in discovering and unfolding your individual potential right from the start. We advise you individually on career paths, applications, or interview preparation. Additionally, we bring top recruiters from leading consulting firms to companies in the financial sector to international corporations or startups to the campus to give you a head start in the career you desire. Being Germany’s #1 in starting salaries and constantly ranking among the best ten business schools for career services proves us right.

Develop your intercultural skills

We live in an increasingly globalized world and we firmly believe that international competencies are essential for future leaders. Therefore we place great emphasis on the development of your intercultural skills. All our classes are taught in English and consist of 33 % international students from all over the world. You will be working with interesting classmates from various cultural backgrounds. Furthermore, a term abroad at one of our more than 140 partner universities is integrated into the curriculum at no additional cost. You can even complete a double degree*.
*Please note this will extend your studies and incur an additional fee. 

Experience the famous HHL spirit

At this point we prefer to let our alumni speak. Here is what Irene Klemm, co-founder of Edurino and Ex-BCG consultant, says about the HHL spirit: “The HHL spirit is undoubtedly something that makes HHL very special. It is determined by a strong cohesion, a close community, and often friendships.”
Due to our constant effort to foster our community, we have built a tight-knit network of loyal alumni and passionate supporters all over the world. As a student of HHL, you become part of it and get to interact with successful entrepreneurs, leading international managers and top-class experts.

What we do differently in our Master in Corporate Finance is the strong connection between quantitative abilities and strategic application. We do not educate the next generation of analysts for the basements of banks and big corporates. Instead, HHL graduates can critically reflect on the analytic insights they have generated and derive thorough management decisions that also incorporate long-term implications.

Dr. Maximilian Schreiter
Program Director Master in Management | Finance

Chat with our students

Our student ambassadors are here to share their experiences of HHL and to answer any questions you may have about their HHL journey, their student life and their advice on how to make the most of your studies. Simply browse our list of ambassadors, choose the student of the program you are interested in and start the conversation.

What our alumni say

Elton Bursuk
Investment Banking Analyst, Goldmann Sachs

With its interdisciplinary and practical approach, HHL equipped me with a holistic toolset which helps me to thrive early in my career. Rationalizing situations with quantitative models, analyzing challenges from various perspectives and deriving business critical solutions is only a minor selection of the skills I refined during my time at HHL. Beyond the skill set, I am fascinated about the high-quality profiles in our HHL network and their openness to step into a dialogue.

Stephanie Lippert
Senior Associate, Alternative Investments Pacific Global Asset Management LLC

Getting my degree at HHL was one of the best decisions I could have made: it prepared me to thrive in any environment, no matter how complex or challenging, and connected me to incredible recruiters, alumni, and life-long friends. The HHL spirit is unique in that you can be more yourself, which helped me walk my own path after graduation and helped me fulfill my dream of a thriving career in the US.

Harsimrat Chahal
Consultant, Bain & Company

The master program at HHL prepared me for the job world through its practical approach. Everybody worked on many real-life projects as part of the curriculum. This practical orientation combined with various networking events, continuous career coaching and numerous internship possibilities gave me a chance to visualize what I could and wanted to do after my studies.

Max Dolata
Investment Director, Ardian

Coming to HHL with a background in economics, my M.Sc. studies with a major in finance allowed me to discover my enthusiasm and to deepen my understanding for the field! Having enjoyed these hands-on courses, I was ready to accept a role in the investment banking industry . While working with HSBC and UBS at first, I eventually moved to private equity at Ardian.

Philipp Roggencamp
Manager, Bain & Company

With a background in media management and advertising, shifting to a major in Finance really pushed my understanding of how markets work and opened up a whole new perspective on business to me. Not only this, but the well-chosen balance between theoretical and applied finance prepared me for my start at Bain and continues to enhance my work as a consultant.

Tobias Buhrke
Investment Manager, Bregal

The finance courses at HHL gave me the profound knowledge and skills needed to join Goldman Sachsafter graduation. Particularly, the hands-on modeling sessions and case studies proved to be useful for my job in investment banking. In the meantime, I have joined family-investor Bregal and the skills acquired at HHL have a lasting impact on my daily work.

Max Sutter
CEO & Founder, Celebrate Apps

Every day I have to make lots of minor and major decisions about my company’s future and value to be created HHL’s finance courses provided me with the right perspective and mind-set when it comes to make long-term decisions under uncertainty and when to decide between different investment alternatives. Great finance is not only about correct calculations, it’s a way of thinking. Indeed, that’s what I learned at HHL

Sönke Mehrtens
Senior Project Manager, Horváth

The hands-on finance casework was an excellent preparation for my career in management consulting by enhancing my problem-solving skills and finance expertise. Working in the financial industry competence center at Horváth & Partners, I particularly benefit from finance-related hard skills learned at HHL , such as financial analysis and modelling.

Johannes Nass
Founder & Managing Director, NativeResearch

Having negotiated multiple early stage equity rounds of a young company after my Bachelors degree, I quickly noticed that an earlier exposure to HHL’s finance courses would have increased deal quality massively. The acquired knowledge paired with the opportunity to engage with complex stochastic modelling within my master thesis and numerous connections with renowned companies was the ideal enabler for my career. I started off by joining the Boston Consulting Group and finally got back to managing a new venture.

Study Program – Turning your passion into profession

Our Master in Finance, with a strong focus on Corporate Finance, prepares you to become an expert in the field by combining academic excellence with key insights on practical challenges. Focusing on corporate finance, asset pricing and financial data analytics enable you to master future challenges in financial decision-making. you will understand, design and prepare solutions for linking financial markets with the needs of corporations.

Program Structure

The Master in Finance and Management program consists of several elements designed to educate and train skilled, innovative, responsible, and successful future leaders:

  • Welcome Week
  • Finance Prep
  • Essentials
  • Elective Essentials
  • Business Competencies
  • Finance Focus
  • Master Thesis

Watch the video

1. Welcome Weeks

Kicking off a new life chapter at HHL

The “Welcome Weeks” offer a dive into the #hhlspirit. Our students get to know classmates from all of our programs and from all corners of the world, both virtually and on-site. This community event lays the foundation for a powerful network that will support them not only through their studies but far beyond.

HHL Welcome Weeks – Watch the video


    2. Finance Prep

    Get fit for Finance

    Our blended learning modules on the basics of studying finance allow you to self-assess your expertise, refresh acquired skills, and fill gaps. All modules are optional and can be taken according to your individual needs.

    • Fundamentals of Accounting
    • Business Modelling in Excel
    • Mathematics and Statistics
    • Fundamentals of Finance

      3. Essentials

      Essentials: Learn what counts

      This is where you start your HHL journey and take a deep breath of our school’s DNA. We do not only onboard your diverse class in what is essential in terms of hard skills but also develop your entrepreneurial spirit as well as your sense for teamwork and community. Moreover, we want to help you in becoming the best version of yourself by learning meaningful selfleadership frameworks and gaining awareness for the cross-functional abilities needed to excel in a modern business world.

      Essentials (10 ECTS)
      Integrated Case Study - Finance, Reporting, Strategy, Marketing, Logistics (7 ECTS)Economics (5 ECTS)
      Problem Solving & Communication (5 ECTS)Negotiation (5 ECTS)
      Ethics & Sustainability (5 ECTS)Leading Yourself & Self-Reflection (3 ECTS)

        4. Elective Essentials

        Elective Essentials: Lay the foundation

        Choose two out of the three highlighted modules to prepare for your thrilling ride through the world of finance and strategy. Beyond that, you can select one of the other offerings to dive into something new and to complement your existing skillset with new capabilities.

        Quantitative EconomicsEntrepreneurshipFinance & AccountingBusiness Management
        International Macroeconomics (5 ECTS)Disruptive Technology & Business Models (5 ECTS)Financial Analysis & Modelling (5 ECTS)*Organizational Behavior (5 ECTS)
        Managerial Decision Making (5 ECTS)Entrepreneurship (5 ECTS)Entrepreneurial Finance (5 ECTS)*Value Chain Management (5 ECTS)
        Coding & Data Literacy (5 ECTS)*Competitiveness (5 ECTS)
        International Study Trip (5 ECTS)
        * Modules to choose for the Finance Focus

          5. Business Competencies

          Working on a real-life project, studying abroad or completing internships: The practical experience you gain and the connections you build will serve you far beyond graduation and equip you with an invaluable network.

          Practical and international experience at its best

          Whether working with a company on a real-life problem, studying abroad or gaining practical experience through an internship, the connections and relationships students build will benefit them far beyond graduation. A selection of unique opportunities allows you to apply your newly acquired knowledge and skills:

          Student Consulting Project

          This is a once-in-a-lifetime opportunity to experience what it’s like to be a consultant. Your challenge is to collaborate in a team of four to six students to advise and support a company in solving a real-life problem. Working closely with both company representatives and HHL faculty, you will learn first-hand what it means to initiate real change.

          Explore the most recent projects in our blog

          Practical Deepening

          Whether consulting, working at an HHL startup or in a social impact project; with an integrated internship we offer you the opportunity to gain practical insights into new sectors and diverse corporate cultures. This is your chance to gain new perspectives, contacts and experience according to your own unique career goals.

          International Experience

          Discover new countries, dive into new cultures, and invigorate your intercultural competencies during your term abroad at one of our 140 in Europe, Asia, Oceania or the America.
          This international experience is your opportunity for personal development and for establishing a global network that will accompany you through your career. Read about our students’ experiences in

            Dr. Joachim Lamla
            Managing Director Porsche Consulting GmbH

            For us, the cooperation with HHL and their young inspiring students from all over the world was a unique experience offering a win-win result for all parties: The company Porsche and the students of HHL. We all shared our stories, practices and skills to reveal fresh ideas for new products, services and consumer experiences.

            6. Finance Focus

            Finance Focus: Become an expert that stands out!

            The Finance Focus curriculum is carefully composed to turn you into an expert in the field by combining academic excellence with key insights into real-world challenges. While immersing yourself in the exciting world of Finance, we will make sure that you never lose the big picture on strategic implications and decision making.

            Financial Decision Making

            These modules convey important skills on financial markets, building portfolios, weighing risk and return, valuing investments, structuring M&A deals as well as hedging and insuring risk exposures. Beyond providing safe ground regarding the concepts, the courses focus on direct applications to real-life challenges.

            The questions that are addressed span from: What are best-practices in financial planning and how to implement them? How do financial markets work and what are the implications for instruments being traded and market participants? How to insure or hedge against risks? How does an M&A process works?

            Advanced Financial Challenges

            Modules of this block transform students into experts in investing, financing and pricing assets. The modules provide recent academic advancements in the field and latest practical developments from industry. Students obtain the skills to price any claim they may ever face, enabling them to evaluate any investment, rationalize any risk management strategy, optimize capital structures and shape complex financing contracts.

            Moreover, we give students the opportunity to place themselves in the ultimate test, a case study seminar with finance executives. In this capstone seminar, students work in groups towards solving a realistic case mentored, challenged and evaluated by a senior of one of our partner companies.

            Full-time Master in Management – Finance Focus (30 ECTS)

            Financial Decision MakingAdvanced Financial Challenges
            Corporate Valuation and Mergers & Acquisitions (5 ECTS)Financial Instruments & Asset Pricing (5 ECTS)
            Capital Market Theory & Investments (5 ECTS)Advanced Corporate Finance & Taxation (5 ECTS)
            Risk Management of Corporations (5 ECTS)Case Study Seminar with Finance Executives (5 ECTS)

              7. Master Thesis

              Putting the theories into context

              Your master thesis – your way. Contribute to the discipline of corporate finance and beyond with a high-class empirical study, a well developed modelling approach, or a
              practice-oriented case study.

              Master Theses in Finance (15 ECTS) can be prepared twofold, in a classic thesis format or as a research paper. The latter offers the opportunity to get published in an academic or applied finance journal. Just in the last two years, theses of our students have been published in journals like Qualitative Research in Financial Markets (Ranked B), Corporate Finance (Ranked D) or Die Wirtschaftsprüfung (WPg) (Ranked C).

              Successful theses in finance were published in (exemplatory)

              • Qualitative Research in Financial Markets,
              • Corporate Finance or
              • Die Wirtschaftsprüfung

              Best HHL Master Thesis in Private Equity

              Our Center for Corporate Transactions & Private Equity (CCTPE) in cooperation with Palero Capital also awards the best master thesis in private equity each year.
              In our HHL Blog we regularly present interesting master thesis. Look out for the Research Briefs.

                Program Schedule

                Program Introduction
                Master in Management | Finance

                with Dr. Maximilian Schreiter

                A glimpse of our guest lecturers from practice

                Hanns-Christian Ehret - Course: Capital Market Theory & Investments
                Head Business Development & Sales Europe | Director, Credit Suisse

                Sustainable investments are booming, reaching over USD 35tn globally in 2020 (according to GSIA Trends Report 2020). Environmental, social and governance criteria are the three areas of focus that have become the determinants for evaluating an investment’s sustainability. Addressing this ground-breaking investing shift in a joint lecture with Prof. Lahmann and the distinguished group of HHL students has been both tremendously exciting and insightful.

                Dr. Arnd Lodowicks - Course: Entrepreneurial Finance
                CFO, Rocket Internet

                Managing venture capital is between art and science. To navigate the huge uncertainty surrounding fast-growing ventures a combination of entrepreneurial instinct and analytical toolset is required. I enjoy being a guest lecturer in Entrepreneurial Finance so much because the course addresses exactly that mix by discussing thorough but pragmatic solutions to financial planning, valuation, or deal structuring in VC-backed ventures.

                Sasha D'Lima - Course: Risk Management of Corporations
                Data Science Specialist, BMW Group

                No company can do business risk-free, therefore at BMW we strive to manage our risk with a blend of expert opinions and quantitative models. Our approach rests upon strong scientific insights from stochastic theory, behavioral finance, and macroeconomics but does not stop there. We turn models to real-life for making better management decisions. That explains why I love so much coming back to HHL’s finance track as a guest lecturer in Risk Management: Because the program follows exactly the same philosophy!

                Dr. Michael Kramer - Course: Entrepreneurial Finance
                Partner, Deal Advisory at KPMG Germany

                Apply creative methods, understand new business models, and develop a good feeling for the management team – venture is far more than financials – but they are an important basis! HHL students get well-educated on that special mix of quantitative expertise and management skills. Thus, discussions with them and with Dr. Maximilian Schreiter in the course of Entrepreneurial Finance are always refreshing.

                Tomas Smetana - Course: Entrepreneurial Finance
                Senior Manager, Leading Funding & IR, N26 Group

                “Don’t get greedy” is a very important motto for life anyway. When it comes to financing start-ups, however, it has an additional meaning: you should only raise as much money from investors as you need, not as much as you can get. Together with the students, I draw the fine line between these two states during my business planning session in the Entrepreneurial Finance course. .

                Boost your career with HHL’s Master in Finance

                HHL‘s award winning Career Service supports you to discover and unfold your individual potential – from the very first moment at HHL. Top recruiters coming to campus offer extraordinary career opportunities to kick-start your career.

                for graduates' salaries in Germany

                FT Master in Management Ranking 2022

                starting salary after graduation

                HHL Career Service

                Employment success within 3 months after graduation

                FT Master in Management Ranking 2022

                Worldwide for Career Service

                FT Master in Management Ranking 2022

                McKinsey & Company, Boston Consulting Group, Bain & Company, HSBC, Deutsche Bank, Dr. Oetker, Roland Berger or Amazon: Countless renowned companies frequently recruit on our campus. Our Master in Management program will launch your career towards new horizons: job offers start pouring in even before graduation! With an average starting salary of EUR 83,600, your investment in our Master in Corporate Finance will definitely pay off!

                Get the Employment Report!

                It’s an easy climb up the career ladder with our HHL Career Service

                In a recent Financial Times Master in Management Ranking, our Career Development Team was ranked 11th worldwide! This is no coincidence, as our experienced psychologists and career experts have long perfected the mix of 1-to-1 coaching, personality tests, workshops and other tools. They help you discover what unique skills and strengths set you apart. Together, you will tailor a personal career plan to significantly increase your prospects and reach your career goals successfully and rapidly.

                We will be at your side throughout your job search. Our Career Development Team will:

                • check your CV
                • prepare you for interviews, recruiting processes and salary negotiations
                • put you in touch with alumni in the business sector you aspire to enter
                • strengthen your capacities
                • share effective methods to make the job market work for you
                • provide access to job postings and exclusive recruiting events on campus with leading companies.

                With passion and commitment, and our famous personal touch, we pave the way for your success and help you land that dream job!

                Apply now!

                Your networking opportunities with our partner companies are manifold and divers:

                HHL FinNights - Your Fast Track into Finance Career Opportunities

                FinNight Edition 1, October 2020

                • FTI-Andersch | Consulting
                • Ardian | Private Equity
                • Credit Suisse | Wealth Management
                • Tiesta Capital | M&A Advisory

                FinNight Edition 2, April 2021

                • Astorius | Private Equity, Fund of Funds
                • Berenberg Bank | Wealth Management
                • Deutsche Bank | M&A
                • Ebner & Stolz | Corporate Finance Advisory
                • Green Peak | Private Equity
                • Winterberg | M&A Advisory

                FinNight Edition 3, October 2021

                • Ardian | Private Equity
                • KPMG | Deal Advisory
                • Oliver Wyman | Consulting
                • Retail Capital Partners | Consulting
                • SAB | Banking
                • Tiesta Capital | M&A Advisory

                FinNight Edition 4, Februar 2022

                • Citi Bank | Investment Banking & Capital Markets
                • CTcon | Consulting
                • N26 | FinTech
                • PwC | Advisory
                • Rothschild | Investment Banking

                FinNight Edition 5, April 2022

                • AlixPartners | Consulting
                • Bridgepoint | Private Equity
                • Houlihan Lokey | Investment Banking
                • LBBW | Corporate Finance & M&A
                • Trustventure | Consulting
                • Willis Towers Watson | Asset Management

                FinNight Edition 6, October 2022

                • Barkeys | Investment Banking & Capital Markets
                • BNP Paribas | Investment Banking
                • CARL Finance | Corporate Finance Advisory
                • Deloitte | M&A Advisory
                • OneEquity Partners | Private Equity

                FinNight Edition 7, January 2023

                • Astorius | Private Equity, Fund of Funds
                • Cofinpro | Financial Services Advisory
                • Cowen | Investment Banking
                • Deutsche Bank | Business Development & Private Banking
                • GP.Bullhound | Investment Banking

                  Company Visits - HHL on Tour

                  Past (2022)

                  • Berlin, April 2022: N26 (FinTech) and Antler (Venture Capital)
                  • Munich, May 2022: FINN (Mobility) and Early Bird (Venture Capital)
                  • Frankfurt, June 2022: Deutsche Bank (Private Banking) and Ardian (Private Equity)
                  • Hamburg, September 2022: Grant Thornton (M&A Advisory)

                  Upcoming 2023

                  • Berlin, March 2023: N26 (FinTech), Antler (Venture Capital), KPMG (Deal Advisory), BCG (Consulting)
                  • Frankfurt, March 2023: Rothschild (Investment Banking), One Equity Partners (Private Equity)

                    HHL Finance Case Challenges - Practical Insights and Networking before your Master studies

                    HHL Finance Case Challenge, Leipzig Edition, November 2022

                    • Topic: Corporate Valuation and M&A
                    • Partners: Ardian and Roland Berger

                    HHL Finance Case Challenge, Cologne Edition, February 2023

                    • Topic: Restructuring and Transformation
                    • Partner: Structure Management Partners

                    HHL Finance Case Challenge, Munich Edition, March 2023

                    • Topic: Venture Capital Investment
                    • Partner: Early Bird Venture Capital

                    HHL Finance Case Challenge, Berlin Edition, May 2023

                    • tba

                      The HHL Network

                      Contacts are everything!

                      HHL is a small and tight-knit community of students, alumni, staff and professors from around the world. At HHL you can always approach our highly engaged faculty and staff members. We are happy to lend an ear and support you in any way we can. After all, your success is our success. We actively live up to it and make sure that our students and alumni do too!

                      Friends for life

                      Graduating from HHL not only gives you a degree from one of Germany’s best business schools, but it also means lifelong access to a first-class network of successful entrepreneurs, leading international managers, key players in the startup scene and top-class experts. Friendships and contacts established at HHL will long outlast your studies. HHL alumni are active in over 70 countries, they are well connected, and they support each other and future graduates in a multitude of ways. And there’s more! Many of our over 3,500 alumni frequently return to campus to support the new HHL generation with their know-how and experience and often even recruit students from their alma mater.

                      Learn more about HHL alumni

                      Get a taste of HHL and join an open lecture

                      Select your favorite topic


                      In vogue: Living and learning in Leipzig!

                      Leipzig is open, international and vibrant. Located at the crossroads of historic European trade routes, Leipzig prides itself on its 1,000-year tradition of commercial vitality and its reputation as a meeting place for science and the arts. Beyond its modern infrastructure, what makes Germany’s fastest-growing city so popular and dynamic is its rapidly expanding economy, housing world-famous brands such as Porsche, BMW, DHL and Amazon. HHL, the first “Handelshochschule” in German-speaking Europe, was established back in 1898 and therefore laid the foundation for Leipzig’s profound management education early on. Parks, cafés, bars, clubs and lakes invite you to enjoy a welcome break from your studies. Plus, Berlin and all that it has to offer is just one hour away. And the best of it all? Living expenses in Leipzig are affordable for students!

                      Check out our Leipzig page


                      By loading the video, you agree to YouTube's privacy policy.
                      Learn more

                      Load video

                      The Campus

                      The campus: In the heart of Leipzig!

                      The HHL campus is centrally located and, at the same time, surrounded by idyllic parks and rivers. You will experience an inspiring multicultural atmosphere and real campus flair. You also get to take advantage of the adjacent sports department of the University of Leipzig: As an HHL student, you are eligible to use all of their sports facilities and to sign up for sports courses offered by the Leipzig University. And to accommodate a flexible study schedule, we grant our students access to HHL’s premises 24 hours a day, 7 days a week. You can use the library, the study areas and meeting rooms, the lounge and the Student Club any time you want! Intrigued? Please contact us – we would be delighted to show you around our campus in person! We look forward to meeting you!

                        Living Expenses in Leipzig

                        Affordable and student-friendly living

                        Leipzig offers students a very high quality of life for extremely affordable prices. In contrast to many other student cities in Germany, Leipzig still has affordable student accommodation. The approximate living costs per month including accommodation in Leipzig are around 650 Euro, while the average living costs in Germany are estimated at 835 Euro.

                        Here is an overview of the monthly costs that you should take into account during your studies in Leipzig:

                        _Accommodation: EUR 200-350 for student accommodation or private housing
                        _Health Insurance: EUR 90 for students under 30, EUR 40+ for students over 30*
                        _Books & Printing: EUR 10
                        _Food: EUR 200
                        _Leipzig Student Union fees/transport: EUR 35**
                        _Other: EUR 100

                        Additional one-off starting costs

                        _Residence permit (only for non-EU citizens without a Stibet scholarship): EUR 110
                        _Rental bond: EUR 250

                        Maximum amount of initial costs: EUR 360

                        *Students under the age of 30 are eligible for public health insurance, students over 30 must get private health insurance, where prices will vary.
                        **All students must pay this fee, which covers a range of services by the student union, including the semester pass for trams and busses in Leipzig. The semester fee is EUR 216.50.

                          Moving to Germany

                          Find out everything you need to know before and after arriving in Germany, from visa requirements, health insurance, and housing to residence permits.


                            Start your management career now

                            Our Master student community is a carefully selected collegial network of motivated peers who will help you reach your full potential. For this reason, handpicking our students is very important to us. We not only take hard facts into consideration, such as bachelor grades or GMAT but also your personality, your motivation and your ambition.

                            Do you want to be part of the HHL community and experience HHL’s unique student life? Then start your educational journey with HHL now!

                            Start your application today!

                            Are you unsure if your profile fits our admission criteria? Please contact us and we will help you to find out with our free pre-application service.

                            Free Profile Check

                            Admission Test Days

                            HHL offers several on-campus admission days (see below). You can choose in which day you want to participate.
                            For applicants who are unable to attend the on-site admissions day, we offer virtual admissions interviews. We will arrange the timeslot individually with you to best suit your personal schedule.

                            Application Deadlines

                            • November 30: Early Bird 1 – Tuition fee: EUR 29,900
                            • February 28: Early Bird 2 – Tuition fee: EUR 31,900
                            • May 31: Final deadline for international (non-EU) applicants – Tuition fee EUR 33,900
                            • June 30: final deadline for EU applicants and non-EU applicants not requiring a visa to Germany – Tuition fee EUR 33,900

                            Due to our limited capacities, it is beneficial to submit your application at your earliest possible convenience.

                            On-Campus Admission Test Day

                            HHL prides itself on adding a personal touch to the admission process through its on-campus admission test days.  In addition to the admission interviews with an HHL professor you will have an interview with an HHL alumni and get the chance to make first contacts with company representatives. Furthermore  you will have the opportunity to participate in a networking event with current HHL students, get to know the HHL campus, the new Digital Space and explore the city of Leipzig. Last but not least: You will receive the final decision of the admission committee on the same day.

                            Admission dates:

                            • January 20, 2023
                            • March 17, 2023
                            • May 12, 2023
                            • June 16, 2023
                            • July 14, 2023

                            In order to qualify for an admission test day, you need to have submitted all mandatory  documents (see below). After a close review of the submitted documents, you will be invited by the admissions office if your profile meets our expectations.

                            The admission test day has three parts:

                            1. Interview with an HHL professor (approx. 20 min.)
                            2. Interview with an HHL alumni (approx. 20 min.)
                            3. Short presentation and discussion (5-7 min. + 5-7 min. for discussion)

                            For the short presentation, the candidate receives two different topics of which one has to be chosen. One hour of preparation time is given. Each candidate can use his or her own laptop for research. HHL will provide free Wi-Fi.

                            The following aspects will be evaluated:

                            1. Presentation (problem identification, outline and structure, synthesis ability, creativity and originality)
                            2. Discussion (assessment ability, argumentation, critical faculty)
                            3. Personality (appearance, theoretical ability, self-confidence)


                            The following aspects will be evaluated:

                            1. Presentation (problem identification, outline and structure, synthesis ability, creativity and originality)
                            2. Discussion (assessment ability, argumentation, critical faculty)
                            3. Personality (appearance, theoretical ability, self-confidence)

                            HHL’s admission committee will make a final decision in the afternoon and the candidates will receive an e-mail regarding the admission or rejection in the early evening of the admission test day. The committee consists of elected members of the HHL community as well as the examiners of the test day.

                              Virtual Admission Process

                              As an alternative to the on-campus admission test day, we offer a virtual admission process. After you have submitted your application online and your eligibility for the program has been confirmed, you will be invited to a virtual interview with an HHL professor. We will arrange the timeslot individually with you to best suit your personal schedule.

                              The virtual admission interview usually takes 1 hour and consists of two parts:

                              1. Personal interview (30 min.)

                              The competencies focused on during the interview are:

                              1. Problem-solving abilities (analytical abilities, structuring, flexibility, creativity, business/economic knowledge)
                              2. Personality (ability to work in a team, maturity, self-confidence, communication skills)
                              3. Leadership potential (leadership skills, motivation and energy, business sense)
                              1. Presentation and discussion (20 min. + 10 min.)

                              For the presentation, you will receive a topic two days before the interview takes place.

                              The following aspects will be evaluated:

                              1. Presentation (problem identification, outline and structure, synthesis ability, creativity and originality)
                              2. Discussion (assessment ability, argumentation, critical faculty)
                              3. Personality (appearance, theoretical ability, self-confidence)

                              After a successful interview, your complete application will be discussed by our admissions committee. You will be informed about the decision approximately 7-10 days after the interview.

                                Admission Criteria

                                • Bachelor degree in Business Administration or other business-related programs, e.g. Business Informatics,  Business Psychology, Business Law, Economics, Industrial Engineering etc. (with a minimum of 180 credits, of which 40 – 60 credits in business-related subjects)
                                • Above average academic performance during both high-school (Abitur) and Bachelor degree
                                • A GMAT (GRE) score of at leats 600 or HHL Entry Test
                                • A minimum TOEFL score of 90 (or IELTS of 7.0) or a Bachelor degree completed in English
                                • 3 or more months of professional experience by the program’s start date

                                  Application Documents

                                  Documents required to submit your application online:

                                  • Copy of your high-school degree (Abitur)
                                  • Copy of your Bachelor degree or current transcript
                                  • Updated and complete curriculum vitae
                                  • One page motivational letter outlining why you should be admitted to HHL’s M.Sc. program

                                  Documents required to complete your application*

                                  • A certified GMAT (GRE) score of at least 600 or HHL Entry Test
                                  • Proof of English language proficiency (see admission criteria)
                                  • Letter(s) from employer(s) stating three or more months of professional employment
                                  • One letter of recommendation from academic and/or professional references (can also be used to prove professional experience)

                                  *These documents can be submitted later during the application process. Please note the deadlines with regard to Early Bird Deadlines.

                                  Applicants from China, India and Vietnam need an APS certificate in order to be able to study at a German university. Please visit APS China, APS India or APS Vietnam for further information.

                                    Master in Finance: Education that pays off!

                                    The investment in a Master in Management degree at HHL is worth it. With an average starting salary of EUR 72,000 HHL graduates rank among the best-paid Master’s graduates!

                                    Tuition Fees

                                    The tuition fees for the complete program amount to EUR 33,900. We offer a tuition fee reduction if you submit your complete application by the following Early Bird deadlines*:

                                    • Early Bird 1: November 30 – Tuition fee: EUR 29,900
                                    • Early Bird 2: February 28 – Tuition fee: EUR 31,900

                                    This covers all tuition and examination costs and includes the tuition fees for the term abroad at one of our partner universities. And, of course, the fees do not have to be paid in one lump sum. You will pay your tuition fees in four installments – spread out over two years. For further information, see our payment terms. Another important note: Your tuition fees are tax-deductible as an anticipated income-related expense. Check out our brochure (in German) on this for tips. Please contact your tax consultant for more information.

                                    *In order to receive the early bird discount, you must have submitted your application by the above deadlines, as well as submitted all missing documents and tests (including GMAT/GRE or HHL Entry Test), and successfully pass the HHL admissions interview until February 28 (Early Bird 1) or May 31 (Early Bird 2).

                                      Scholarships & Financing Options

                                      Additionally, we support you in financing your Master in Finance studies. Aside from our range of financing options, we award scholarships to outstanding and particularly driven applicants.

                                      How can you secure a scholarship? Convince us of your excellent record and your exceptional personality (please see documents below). Contact us to learn more, we will be happy to advise you!

                                      Payment Policy

                                      Pay your tuition fees in installments!

                                      After having been admitted to HHL, you are required to pay a down payment of EUR 3,000. The remaining fees will be paid as follows: The first and second installments are payable on October 1 and March 1 of the first study year. The third and fourth installments are payable on September 1 and March 1 of the second study year.

                                        Any further questions? Please feel free to contact us at any time!

                                        Are you curious about experiencing HHL for yourself? You are welcome to visit us on campus. Do not miss the opportunity to talk to our students or experience our professors in a lecture. Please feel free to contact us at any time, we look forward to hearing from you!

                                        Jana Vogel
                                        Director Program Marketing