Germany has become a hub for world-class business professionals due to its highly developed social market economy. It has the largest national economy in Europe, the fourth-largest by nominal GDP in the world, and produced approximately $4.2 trillion in 2019 alone (Amadeo, Kimberly, 2019). This thriving economy opens doors for motivated individuals interested in business development.
Germans are pursuing online MBA programmes in order to be their own bosses and open small businesses they can be passionate about. Others are taking online MBA programmes while working part-time or even full-time jobs so they can prepare for a career change without losing their source of income. Many graduates are simply looking to diversify their skill set and get their MBA degree to add to a robust resume and increased employability.
Discover more about the many benefits of earning an online MBA, including top available jobs, expected salaries and more.
5 Reasons to Earn an Online MBA Degree
1. Earn a higher salary.
One of the most obvious reasons to complete an online MBA is for a higher salary. MBA graduates command a salary premium in the hiring market when compared to those direct-from-industry or with a bachelor's degree, according to GMAC researchers (Source).
In 2017, one German school tracked its students’ success and found that on average, their students more than doubled their pre-MBA income. The students jumped from an average pre-MBA salary of €36,220 to an average post-MBA salary of €74,761 (Source). This €38,541 improvement is evidence that an MBA degree is an investment that pays off quickly.
2. Increase job opportunities.
Earning an online MBA can increase job opportunities for graduates. Employers understand that MBA programmes include valuable hands-on skills that can be directly applied in the workplace. Various companies—from start-ups in their early stages, to tech giants like Amazon and Microsoft—recognise the value of hiring graduates from accredited universities.
The Aston Edge modules are designed to bridge the gap between academic learning and real-world application, making you more employable.
3. Diversify your skill set.
According to The Guardian, skills are the new metrics for the labour market rather than job titles (Source). People are learning how to build and diversify their skill sets so they have more to offer companies.
When candidates have impressive skill sets, they increase employability regardless of past job titles. In fact, according to Jan Owens from The Guardian, “A new report finds 60% of students studying for jobs that will be altered or could vanish in the next decade due to automation” (Source).
An online MBA prepares students with soft skills like leadership, confidence and change management, as well as hard skills like financial strategising and business development, none of which will be made invaluable by future automation.
4. Open networking opportunities.
Participating in an MBA programme instantly connects students with aspiring entrepreneurs, business owners and like-minded professionals. Many online MBA programmes organise events and facilitate online forums where students can communicate with other students. This not only helps students build personal and professional networking skills, but it also lets them graduate with a network of contacts that could assist them in the future.
5. Become a better entrepreneur.
Do you aspire to open your own business and become your own boss? An online MBA degree educates students about the necessary skills to start a successful business from the ground up and how to manage and grow the company.
According to Andrew Lancaster at Entrepreneur, “You can also bet that the graduates who start a company begin from a strong position compared to before their MBA. They will have developed some of the essential business management skills you need to actually run a company” (Source).
What Skills Will I Develop in an Online MBA Programme?
You can walk away from an MBA with hard and soft skills that can be applied in both your personal and professional lives. It’s not uncommon to pursue a business degree later in your career.
Individuals with bachelor's degrees are able to pair their existing specialisations with added business skills to increase their chances of succeeding in a company. These people can use their new marketable skills to move into positions as managers and directors, doubling or even tripling their salaries.
The key skills online MBA graduates gain from their programme include:
- leadership and management
- business communication
- networking and contact building
- change management and agile planning
- ethical awareness
- self-confidence and increased self-awareness
What Are the Top Jobs for an MBA Graduate?
Another benefit of completing an online MBA is the variety of job concentrations open to graduates. In some fields, having an MBA is a basic requirement, whereas in others, holding this degree inflates a graduate’s annual salary.
Germany’s impressive economy hosts 37 of the world’s Fortune 500 companies and offers MBA graduates career opportunities in various sectors (Source). Germany is also renowned for the production of high-quality products, with one third of its overall economy supported by the export of goods and services. In 2011, €1.3 trillion worth of goods and services were exported, making Germany one of the top three largest exporters in the world (Source).
This thriving economy offers a selection of fruitful career opportunities for MBA graduates. The following are the top industries and jobs for MBA graduates in Germany.
Business consulting is a prosperous industry in Germany that provides a turnover of approximately €15 billion annually. Prominent recruiters in Germany, such as Ernst & Young, Accenture and Capgemini Consulting, hired a large group of MBA graduates to occupy their available consulting jobs in recent years (Source).
A business consultant is responsible for improving business processes, monitoring communication between departments, and working closely with customers to improve overall satisfaction. An online MBA equips students with the problem-solving skills required to resolve complex business issues and set up a company for success.
Average salary: €57,249 per year
Business consulting jobs:
- business consultant
- business growth advisor
- project management consultant
2. Information and Communications Technology (ICT)
According to Statistisches Bundesamt, ICT workers in Germany are the second highest earners among all other economic sectors (Source). Software engineers and developers with leadership skills often move into technology management jobs.
People working in this sector need to have a foundational understanding about how technology impacts a company’s success and how to select and manage software and technology. Individuals who have worked in the tech space can also pursue an online MBA to increase their success and salary.
Average salary: €59,000 per year
Technology management jobs:
- telecommunication engineer
- software programmer
- web developer
Acquiring an MBA can be especially helpful for individuals that want to become entrepreneurs. Entrepreneurs set up businesses and take on the necessary financial risks to build a profitable company.
The more knowledge entrepreneurs have, the better their chances for success, higher salaries and sustainability. The average base salary for an entrepreneur in Germany varies greatly, but according to LinkedIn, it lands at around €65,000 per year for business owners (Source).
Average salary: €65,000 per year
- business owner
- product manager
The financial sector will continue to present ample job opportunities and high salaries in Germany. Online MBA graduates learn hard financial management skills that enhance their chances of success. They are also able to better navigate the business side of financial planning and communicate with their clients after developing soft skills from their programmes.
At present, the national average salary for a finance manager is €76,767 in Germany. Large companies such as Amazon offer approximately €93,485 per year, and other companies like Shell offer as much as €120,700 (Source).
Average salary: €76,767 per year
- finance manager
- Chief Financial Officer (CFO)
- Chief Financial Analyst (CFA)
Germany is known for its strong automotive industry. Germany is the world’s fourth largest automobile manufacturer and the largest employer in the country, employing more than 723,000 people (Source). MBA graduates with the skills and experience to excel in Germany’s automotive industry can land jobs at companies like Porsche, BMW or Volvo.
This sector also offers generous salaries to its employees. The average salary for an automotive account manager in Germany is €78,753, but this ranges based on the size of the company. A manager at Porsche can earn as much as €150K - €164K per year (Source).
Average salary: €78,753 per year
- automotive account manager
Can I Complete an MBA Programme Online?
Completing an MBA is a time commitment and a financial investment. For this reason, many students choose to maintain part- or full-time jobs to continue earning an income while completing an online MBA.
Fortunately, an online MBA allows students the flexibility to earn their degree from home without missing out on skills like networking, communication and student-to-student support. Many accredited schools have set up sophisticated online hubs where students can experience the best of both worlds to learn on their own schedule, earning their degree in as little as two years.
The Aston Online MBA brings a high-quality UK education to international students and is globally recognised by employers. Aston University is currently ranked 11th in the world's top 100 universities for 2019 by Q.S., the global university rankings authority for careers and education. It’s no surprise that Aston Online is a popular option for German students that have a desire to advance their career.
German MBA graduates may choose to capitalise on the prosperous economy and start their career in Berlin, Munich, Hamburg or Frankfurt. Other graduates may use their globally recognised degree to work abroad in thriving cities like London, New York or Tokyo.
If you’re interested in enhancing your skill set, increasing your salary and seeking out new business opportunities, learn more about Aston’s online MBA programme.