Master in Management | Finance

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

#1
Entrepreneurial University in Germany

Startup Radar by Stifterverband

#1
for graduates' salaries in Germany

FT Master in Management Ranking

#9
worldwide for graduate's overall satisfaction with their master program

FT Master in Management Ranking

Combine corporate finance expertise with profound management skills by joining HHL’s Finance Track. 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.

Outstanding skills in analytics, strategy, finance and management for the leaders of tomorrow

Strong ties with today’s thought leaders in business, top-tier employers and potential investors

Lifelong community of over 3,300 HHL alumni and 50 organized alumni events around the globe p.a.

At a glance

Program Start

  • September

Duration

  • 21-24 months

Language

  • English

Application Deadlines

  • May 31 (Non-EU)
  • June 20 (EU)

Credits

  • 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

Our Class Profile

~60

Students in the M.Sc. class

~25

Students in the Finance class

50%

International students

633

Average GMAT score

24

Average age

1.5 years

Average work experience

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

  1. Connect corporate finance expertise and strategy skills in an entrepreneurial environment
  2. Learn what matters in practice by discussing with guest lecturing professionals and via our unique student consulting project
  3. Build your career with the lifetime support of one of the world’s best career services
  4. Dive into HHL’s global alumni network and build strong ties in the business and social spheres
  5. Become part of HHL’s unique community and live in Germany’s most dynamic city (#NYTimes)

What we do different in our Finance Track is the strong connection of 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

Discover the HHL Spirit!

“The feeling to have arrived at the right place –
to be where I want to be.”

Watch the video

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.

HHL Campus Day on Saturday, March 12, 2022

Learn more about HHL´s master programs by attending virtual program introductions, lectures and individual consultations

Register now

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
Managing Consultant, Horváth & Partners

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 full-time Master in Management | 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 enables 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 Management | Finance 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 Week

Kicking off a new life chapter at HHL

The “Welcome Week” offers 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.

Read about our Welcome Week 2021

 

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 Leipzig 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

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 tool set is required. I have enjoyed 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.

Top-tier Career – Start one step ahead

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.

#1
for graduates' salaries in Germany

FT Master in Management Ranking

€72k
starting salary after graduation

HHL Career Service

95%
Employment success within 3 months after graduation

FT Master in Management Ranking

#9
Worldwide for Career Service

FT Master in Management Ranking

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 72,000, your investment in our Master in Management program 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 9th worldwide! This is no coincidence, as our experienced psychologists and career experts have long perfected the mix between 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!

 

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 3,300 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

Campus

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

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.

Application

Start your management career now!

Our M.Sc. 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 with 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 28,000
  • February 28: Early Bird 2 – Tuition fee: EUR 30,000
  • May 31: final deadline for international (non-EU) applicants – Tuition fee EUR 32,000
  • June 20: final deadline for EU applicants and non-EU applicants not requiring a visa to Germany – Tuition fee EUR 32,000

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:

  • March 11, 2022
  • May 13, 2022
  • July 8, 2022

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 600 or higher
  • 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 score of at least 600
  • 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.

Application Fee

Please pay the application fee of EUR 100 by bank transfer. The application fee will be reimbursed after the start of the program.

Account name: HHL gemeinnuetzige GmbH
Account number: 1100 104 956
Bank code: 860 555 92
IBAN: DE 59 8605 5592 1100 1049 56
BIC: WELADE8LXXX
Purpose: Application fee for: name of applicant, program, intake
Bank: Sparkasse Leipzig

Master in Management at HHL: Education that pays off!

Financing conditions

Investing in a Master’s degree at HHL is worth it. With an average starting salary of EUR 72,000, HHL graduates with a focus on Finance rank among the best-paid Master’s graduates globally!

Tuition Fees

The tuition fees for the complete program amount to EUR 32,000. 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 28,000
  • Early Bird 2: February 28 – Tuition fee: EUR 30,000

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 instalments – spread out over two years. For further information, see our payment terms. One more 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.

*The early bird discount is offered to those who have uploaded all mandatory documents and submitted their application by these deadlines and have successfully passed the interview as well as the GMAT/GRE within 1 month of the deadlines.

Payment Policy

Pay your tuition fees in installments!

After having been admitted to HHL, you are required to pay a down payment of EUR 2,000. 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.

Scholarships & Financing Options

Additionally, we support you in financing your 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!

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