Germany maintains a strong global presence through the quality of its industries and the top-notch products that they produce. Irrespective of the industry, the presence of at least one German company among the top is a commonly seen trend. 37 of the Fortune 500 companies are located here. Germany’s economy was worth $3.571 trillion in 2011. By comparison, USA, which has 27 times Germany’s land area, has an economy just five times bigger.
One third of Germany’s economy is driven by exports - $1.4 trillion worth of goods and services were exported in 2011. This makes Germany the world's third largest exporter, and it is here that MBAs find great career opportunities. The economy requires personnel who can speak different languages and can understand different cultures. This helps as it tries to capture market share in economies around the world.
On average, MBAs earned about $80,000 in 2011, an attractive figure anywhere in the world, but especially in Germany with its strong social services, and vibrant, multi-cultural society. What’s more, post-MBA salaries in Germany saw a massive rise, as compared to the pre-MBA earnings. Mannheim Business School for example has an average MBA salary of $113,000, which represents a substantial 81% increase over the pre-MBA salary. WHU graduates earned an average of $99,000, representing an impressive 46% rise.
The Top sectors for Post MBA Opportunities in Germany are:
The consulting industry in Germany is particularly strong. According to FEACO’s Survey of the European Management Consultancy 2010/2011, the German Management Consultancy market had a turnover of €26.5 billion, with Business Consulting dominating at €15 billion. Development & Integration was next with €5.4 billion, followed by IT Consulting with €4.3 billion and Outsourcing with €1.7 billion. In fact, Germany owns the largest share in Europe - 32.3% of the market, followed by UK’s 22%.
Not surprisingly, Consulting hired a major chunk of MBA graduates in Germany at most schools. At ESMT, 30% of the class was hired by this sector. At Mannheim Business School, the figures are identical. At GISMA though, Financial Services/Consulting together had just 18%. Prominent recruiters include Ernst & Young, Accenture, AT Kearney, BCG, McKinsey, PricewaterhouseCoopers, Capgemini Consulting, KPMG and Roland Berger.
The strength of Germany’s financial sector can be judged by observing its most famous financial services provider, Deutsche Bank, which earned revenues of €33.2billion in 2011, for a net profit of €4.3b billion. In fact, it was named Equity and Bond House of the Year 2012 by International Financing Review. Insurance is also an important sector, with companies like Allianz and Munich Re dominating the markets.
As far as MBA grads go, this sector seems a mixed bag. At the Mannheim Business School, Financial Services was the third most popular with 13% opting for it. But at ESMT, 20% chose Financial Services while 16% chose Insurance.
Germany’s ICT industry is the fourth largest software and IT services exporter in the world. Over 40% of German economic growth can be directly or indirectly linked to this sector. The IT industry also drives high level R&D. In 2012, the IT market is expected to touch € 150+ billion. 75,000 companies that employ 820,000+ people drive this high business volume. What is more; this number is expected to double over the next 20 years. The key growth areas are expected to be Cloud computing & virtualization, IT security, Mobile Computing, Social Media and E-Energy /Smart Grids, and Business Intelligence / Big data.
Here too, German B-schools tend to show mixed results. Just 6% of the class at ESMT has opted for this sector. However, at GISMA, as much as 18% of the class has been hired to work in this sector. Mannheim too reflects this trend with an impressive 15% opting to work in this sector. Accenture, Bosch, SAP and Siemens are the top names that hire in this sector.
World-class automobiles are synonymous with Germany. They’ve set the benchmarks for luxury and engineering the world over. This sector is the largest employer, with 723,000 employees. Germany is the world’s fourth largest automobile manufacturers, and produces 32% of the cars on European roads. The industry has a turnover in the vicinity of 300 billion with investments of 15+ billion in R&D. In 2010 alone, Germany exported 4.5 million automobile units, which was worth $ 221 billion. With new markets emerging, this sector is expected to grow from strength to strength.
The automobile industry saw strong hiring at ESMT with 10% of the class joining this sector. At GISMA, the sector does even better, with 14%. Not surprisingly, top recruiters are Volvo, Daimler, Porsche and BMW.
Career Services in Business Schools help students find a foothold in the industry and function of their choice. The process starts from day 1, with schools aiding students in picking the 'best fit' options for their career, and then working intensively with the student to achieve that goal.
Here's a gist of what the best schools offer.
Mannheim Business School - Career Services
At Mannheim, a 4-step process is followed:
1. Self-Evaluation & Career Orientation
• Self-Evaluation Exam
• Career Development Analysis
• Career Counseling Sessions
• Company Presentations
2. Job Market Research & Personal Career Strategy
• Company Visits
• Online Career Resources
• Development of Individual Job Search Strategies
3. Application made ready
• CV & Cover Letter
• Application Tips & Hints
• Job Postings
4. Personal Job Search
• Career Fair
• Profile Books
• Personal Contact with Recruiters
ESMT - Career services
Career Services collaborates with students, companies, alumni and counselors, to conduct:
• Company presentations
• Recruitment days
• Personal counseling
• Job-posting platforms
• CV Books
• Leveraging the alumni network
WHU: Otto Beisheim GSM - Career Service
Career Service links companies, alumni and students to organize:
• Company presentations
• Career Days
• Master Your Career Fairs
• Weekly job updates
• Personal contact with companies
• Help in searching for project and final theses.
• MBA resume books
GISMA Business School - Career services
• GISMA offers extensive career counseling
• Job search services
• Professional coaches to aid careers fit
• Potential evaluation
• Interview coaching
• Assessment center training
Recommended Read: Top MBA in Germany
2019 MBA Research Guide - Choose your MBA
F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach.
Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?
We cover them all through our extensive analysis.
+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour
Comprehensive MBA Research Guide: Includes Top MBA Programs by 19 Specializations:
+ General Management
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Leadership Development
+ Military &
+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)
Top 31 MBA Programs in United States – Total Cost & Salary (2017)
Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary
Top 20 European MBA Programs (Based on Actual Salary Increase)
Top 20 European MBA Programs (Short-term return on investment)
Top 20 Affordable European MBA Programs
Top 10 MBA in UK – Salary & Fee (2018)
Top MBA Destinations Based on Happiness Index
Top MBA Destinations based on Innovation Index
Top 10 MBA Job Markets based on Cost of living and Purchasing Power
Top MBA Destination: By Economy
+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA (2018)
MIT vs. Stanford MBA (2017)
Haas vs. Ross MBA (2018)
Kellogg vs Ross MBA
Booth vs Wharton MBA
MIT Sloan vs Tuck MBA
IMD vs. INSEAD MBA (2017)
IIMA vs. ISB (2017)
+ MBA in France (2018)
Top Industries in France
Top MBA Programs in France
+ MBA in the UK (2018)
Top Industries in the UK
Top MBA Programs in the UK
Scholarships in the UK