Scholarships for Business & Management Studies in Germany

Germany has, over the last 20 years, emerged as a premier destination for candidates pursuing higher studies. Business and Management, in particular, is a high-traction discipline, with students from all over the world opting to get their degrees in the areas of finance, strategy, supply chain management, operations, and marketing.There are plenty of scholarships available for business and management students in Germany.

These funding opportunities exist as a way to minimize the financial burden on students during the period of study, but also as a means to reward and recognize academic talent, leadership skills, and extracurricular achievements. The scholarships can be sanctioned by one or more of the following sources.

universities
government programs
private foundations
industry partners

From merit-based awards to funding that target specific areas of specialization, here's a list of business-focused scholarships in Germany (as of 2025).

About to start at a German university? These are the 7 things you have to do before you begin.

DAAD (Deutscher Akademischer Austauschdienst)

A joint organization of German institutes for higher education and their corresponding student bodies, DAAD is one of the world's best-known funding organizations. Founded exactly a hundred years (1925) ago, DAAD's chief focus is on strengthening academia in Germany through international exchange, funding opportunities, and a large global network.

The website serves as a treasure trove for scholarship information for different universities across Germany. You can filter by subject and programme, and find support specifically for Bachelor's, Master's, and PhD studies. The website also has information on scholarship opportunities separate from DAAD's offerings, and there is a section on how disabled candidates can figure out an academic trajectory that best suits their condition.

To look for which scholarships you can avail of in your chosen degree type and discpline, head straight to the scholarship database.

Konrad Adenauer Stiftung

The Konrad Adenauer Stiftung (KAS) offers a variety of scholarships designed to facilitate education and development - student funding, doctoral funding, journalism-focused support, scholarships for international students, refugee support, and artist-centric opportunities.

Student Funding (Bachelor's & Master's Programs)

Amount: Upto 992 euros/month (at least 300 euros/month)
Study abroad: up to 2 semesters
Monthly childcare allowance for recipients with at least one child under the age of 14

Doctoral Funding (PhD & Research Programs)

Amount: Upto 1,550 euros/month
Flat-rate research allowance: 100 euros/month
Additional allowances (e.g., for family, children) granted if necessary
Provides funding for stays abroad if important for work

Deutschlandstipendium

Made available to students in all semesters and all discplines, the Deutschlandstipendium is a federal scholarship programme that is granted to students with exceptional academic performance for the period of a year.

Amount: 300 euros/month
Duration: 12 months (can be extended depending on financial position)

50% of the stipend is paid for by the federal government of Germany, while the other 50% is provided by private sponsors such as companies, universities, and alumni. The scholarship criteria can vary on an university level. In some universities, only grades are taken into consideration while others have a more rounded approach that involves extracurriculars, professional experience, and social initiatives.

Alexander von Humboldt Stiftung (Humboldt Research Fellowship)

Humboldt University in Berlin offers experienced researchers and postdoctoral candidates from all over the world funding for between 6 to 24 months, in a research domain of their choice. Female researchers and underrepresented factions are strongly encouraged to apply, with an acceptance rate of between 20 - 25% on average.

For Postdocs

Amount: 2,700 euros/month + additional benefits
Duration: 6 - 24 months (can be divided into three stays in Germany within three years)

For Experienced Researchers

Amount: 3,200 euros/month + additional benefits
Duration: 6 -18 months (can be divided into three stays in Germany within three years)

Find detailed information here.

Erasmus Mundus Joint Master

Part of the Erasmus+ program and aimed at faciliating the pursuit of higher studies in established European universities, the Erasmus Mundus Joint Master offers scholarships for 1 to 2 academic years, i.e, half the length or the whole length of a Master's program. The funding may also include costs of travel, visa, and a living allowance. The application period falls between October and January for programs that commence in the next year.

Requirements include:

a Bachelor's degree
graduation before the Master's program begins

At the end of the program, you will have either:

a joint degree (i.e. one single degree certificate issued on behalf of at least two higher education institutions) or
multiple degrees (i.e. at least two degree certificates issued by two higher education institutions of the consortium)

Students can apply directly to the institute of their chosen programme.

Heinrich Böll Stiftung

The Heinrich Böll Stiftung funds students and doctoral candidates from all disciplines and universities in Germany. Scholarship holders are chosen on the basis of responsibility in politics, science and society in the future and who will champion the core values of the Heinrich Böll Foundation worldwide. The foundation is particularly keen on people who actively use and expand their creative freedom, - people who, in the words of Heinrich Böll, "get involved", take responsibility, think outside the box and are socio-politically active. Volunteer activities are of primary importance.

There is particular but not exclusive focus on the following:

People with a migration background, people of color, refugees
Women (especially from STEM subjects)
First-time academics
Students in core subjects such as STEM subjects (especially with a focus on environment, ecology, etc.), economics, art history, and journalism

Scholarship holders will receive the following.

Amount: 855 - 1500 euros/month (case-specific)
Family support: 155 - 276 euros/month
Research & mobility allowance: 100 - 300 euros/month

Friedrich Ebert Stiftung

The Friedrich Ebert Stiftung provides funding for:

All fields of study, including artistic degree courses
First degree courses Bachelor’s/diplomas/state examinations
Master’s/postgraduate programmes
Doctoral degrees

Note: Scholarship holders must live in Germany and study at a German university. A very good command of the German language is required to qualify. Applications have to be submitted in German.

The benefits are as follows:

Amount: 934 € per month (students) / 1.200 € per month (postgraduates)
Family allowance: 276 €/month, if applicable
refund of health care costs
any income exceeding 400 € per month will be credited against the scholarship.

Friedrich Naumann Stiftung

The Friedrich Naumann Foundation supports and funds students from Germany, EU, and non-EU countries who have, crucially, a liberal and cosmpolitan approach - in addition to proven excellence in academia. Students pursuing full-time degrees at state-recognized universities and technical colleges are eligible to apply.

Students pursuing part-time studies, second degrees, distance learning courses, and who may be in the final phase of their studies (the scholarship covers 2 semesters from commencement at least) are not eligible. The application is submitted via an online portal. This is open from 1 - 30 April and from 1 - 31 October each year.

Doctoral students from Germany, EU, and non-EU countries are also encouraged to apply.

Rosa Luxemberg Stiftung (RLS)

The Rosa-Luxemburg-Stiftung awards financial grants to qualified undergraduate and doctoral students from Germany and abroad who can exhibit and evidence a high level of social and political engagement. The foundation aims to support and fund women in academia, students from underrepresented and migrant groups, and disabled candidates. Applications from scientific and technical discplines are especially encouraged, with a focus on impact.

The criteria for qualification are:

High scholarly and professional qualifications (proof of above-average academic achievement at school and/or university)
Political and social engagement in line with the aims of the Rosa-Luxemburg-Stiftung
German language proficiency (B2 level or above)
Personal/family background

The deadline for application is usually set on Oct 1 every year. Find detailed information here.

University-specific Scholarships

In addition to the scholarships listed above, students can also make use of scholarships that are sanctioned by specific universities for specific programs. In the case of business and management studies, there are plenty of options to choose from. Here's a comprehensive list to get you started.

TUM School of Management - TUM offers a range of different scholarships for Bachelor's, Master's, and PhD students. Achievement and aptitude are the two primary qualifiers taken into consideration, followed by discipline and background.
CBS University of Applied Sciences - The CBS scholarship is awarded to part-time and full-time Bachelor's, Master's, and MBA students. All scholarship holders receive a 25% reduction in fees. The scholarship begins in the first semester and remains valid as long as the student remains enrolled within the standard period of study.
WHU – Otto Beisheim School of Management: WHU offers 10+ different scholarships and funding options for students, with a central focus on excellence, merit, business leadership, women in business and finance, and social impact.
University of Hamburg: The University of Hamburg (UHH) offers scholarships in the area of business, management, and finance. Find detailed information on their website.
Leipzig Graduate School of Management (HHL) - This university of management offers program-specific scholarships for its Master's (Finance, Entrepreneurship, and Management) and MBA programs.