I grew up with an interest in European culture, and therefore, I decided to pursue higher studies on this continent. I completed my class 12 in the Commerce stream at H.R. College of Commerce and Economics, Mumbai. Following this, I pursued a Bachelor of Commerce degree from the same institution, affiliated with the Mumbai University. Alongside, I also studied actuarial science and took professional exams offered by the Institute and Faculty of Actuaries, UK.
My decision to further my studies in Germany and later in France stemmed from a longstanding fascination with European education and culture. Alongside many of my classmates, I was keen on studying abroad to gain broader exposure. While most finance students were inclined towards institutions in the UK or the US, I was eager to explore alternative locations. Frankfurt emerged as an ideal choice for me to pursue a master’s program in finance.
At Goethe University Frankfurt, where I study, students could join exchange programmes through the QTEM (Quantitative Techniques for Economics and Management) Network or the Erasmus Program. I chose to do my MSc in Financial Engineering at EDHEC Business School’s Nice campus in France because of its high ranking and scenic location. I had learned French in high school, so I was excited to experience French culture and improve my language skills.
Admissions in Europe — simple and streamlined
I did not contact any counsellor or a consultant. Since a lot of relevant information is easily available online, it is not very difficult to go through the entire process by oneself. In case you get stuck, you can reach out to other students for guidance through social media platforms like LinkedIn.
In the case of Germany, applications are usually managed by UniAssist — a central platform for applying to multiple German universities. Some universities have an in-house mechanism for application purpose.
The following are some of the most important documents needed for applying to master programmes:
Academic Certificates: High school diploma, Bachelor’s degree certificate, transcript of records. If these are not available in English, a certified translated version is necessary. Some universities or colleges provide the transcripts in addition to the bachelor certificate only if the student requests to obtain it, whereas the others provide both irrespective of the requirements of study abroad.
Language Certificates: IELTS (preferred in case of European Universities)/ TOEFL/ proof of German Language Proficiency if the program is offered in solely German or both German and English.
Aptitude Tests: GMAT/ GRE (depends on the program requirements)
A valid passport also needs to be uploaded to the UniAssist platform.
Furthermore, a letter of motivation is also an essential document that plays a crucial role in the application process. Some universities also need proof of extra-curricular activities, achievements, and volunteer/social work.
For visa, submission of German language certificate was not mandatory in my case since my master programme is entirely in English.
In the case of France, even though I had a German Residence permit, I had to apply for a French Study Visa at the French Consulate in Frankfurt since my stay in the country was going to be longer than 90 days.
CAF is a government agency that provides financial assistance to individuals, including students. Most students apply for the rental assistance that is allocated to those that qualify by the government. It is important to note that the birth certificate is mandatory for application along with the other documents. If it is not available in French, a certified translation of the same is necessary.
Deserted Sundays, housing scams
When I moved to Frankfurt for higher studies, it was my first time travelling abroad. The initial days were a mix of excitement and challenges. Finding decent accommodation was particularly tough, as housing scams are notoriously common. Fortunately, I was able to secure a place while in Mumbai.
It was a huge shock seeing the empty streets on the very first Sunday of my stay. I had completed A2 level in German while I was in India, hence, I was able to understand a few terms and day-to-day colloquial phrases.
The first week also keeps you occupied with various formalities related to the city registration, opening of a bank account, insurance, etc. I did not look for a part-time job in the first semester since the course was highly demanding.
Both Frankfurt and Nice have a lot to offer in terms of food, people, culture and experience in general. Even though I like living in Germany, language barrier becomes a huge hurdle when you need to socialise. In Frankfurt, the situation is slightly better since most locals and internationals are fluent in English. In Nice, it was more difficult to have conversations with locals since they could not speak or understand English. I feel grateful to have studied under the supervision of some of the best professors in both the institutions. Since my programme is very international, I was able to get to know people from different parts of the world.
Europe vs India
The education system in German and French universities or schools are more advanced than in most Indian institutions or universities. My master programme is highly driven by quantitative techniques which was missing in my bachelor programme. Hence, I had to work a bit harder to understand the concepts and bridge the gaps in my understanding. My background in actuarial science also came in handy while preparing for some courses in my master studies.
Usually, German universities are more academic and technical in nature whereas the French ones usually adopt a more practice-oriented approach. They also follow different academic calendars. Speaking about my experience, since EDHEC is a business school, the method of instruction is different from that of Goethe University. In France, I had to engage more in group assignments and projects. Even though the courses often lasted for shorter durations, the workload was more or less the same.
(This letter is part of a series by The Indian Express where we bring to you the experiences of students at different foreign universities. From scholarships and loans to food and cultural experiences — students tell us how life is different in those countries and things they are learning other than academics)