Hanken School of Economics is the oldest Business School in Finland and one of the oldest in Northern Europe. Hanken School of Economics is the oldest Business School in Finland and one of the oldest in Northern Europe. Based in Helsinki and Vaasa, the Financial Times ranked Hanken as 55th of all European Business Schools in 2020. Hanken also has the Triple Crown accreditation that is held by less than 1% of the world’s business schools.

Table of Contents


Hanken School of Economics is the oldest Business School in Finland and one of the oldest in Northern Europe. It is a leading university with 110 years of experience in research and education in economics and business administration. The university cooperates with a number universities world-wide and is member of several international networks.

Hanken has pledged to creating new knowledge and educating responsible professionals for the global economy and changing society. This is done through research activities characterised by academic excellence and corporate world relevance. Hanken offers you a renowned education of excellent quality.

Hanken campuses are based in Helsinki and Vaasa, both beautiful coastal cities in Finland. Helsinki is the capital of Finland. The city has several research universities and universities of applied sciences, which contributes to a vibrant social scene for students. Besides choosing a high-quality education, you will also find what you really like among lots of activities, nature and culture. Vaasa is the second largest student city in the country with plenty of social activities with a wide range of both exercise and culture. City’s beautiful campus area has an interesting architecture and a beach park right next to the sea.

white calendar icon
Semester starts

Autumn 2024

clock icon
Application period

Regular: 27.12.2023 – 12.01.2024 (Joint Application)

white coins icon
Tuition fee

15 000 € / year

Hanken is one of the most international universities in the Nordics, and they are proud of it. All Hanken’s bachelor’s students go on exchange and many of the master’s students have an international background. To achieve this, Hanken has built an impressive list of partner universities with the world’s top business schools and universities. The school is also proud of its graduates and alumni: up to 98 % of the 2018 & 2017 graduates had found employment within 6 months of completing their degree!

HANKEN students studying together
All photos on this page are courtesy of HANKEN School of Economics.


Arkadiankatu 22
00100 Helsinki


Kirjastonkatu 16

65100 Vaasa



Hanken School of Economics

Hanken is a leading, top-5 university-level business school in Scandinavia/Nordics – featuring the “triple-crown” of international business school accreditations (AACSB, EQUIS, AMBA). Its research ranks in the top 5 among Scandinavian/Nordic business schools in terms of research published in top journals of business and economics. Hanken also ranks in the top 40 of all universities in the world in terms of research citation rate. European Commission’s HRS4R initiative awarded Hanken with the ‘HR Excellence in Research’ label.

Hanken has two campuses: one located in Helsinki, the capital of Finland, and the other in Vaasa, the energy capital of the Nordics. Both cities have a vibrant business life and are hubs for the Finnish industries’. The central locations make it possible to cooperate with businesses and different industries. This ensures that students are offered plenty of opportunities to connect with potential future employers.


Hanken offers a Master’s Program in Economics and Business Administration in English. This is a two-year leadership and business program, in which students can choose between many different specializations. For applicants applying in the rolling admission, Business & Management specialization is open.

  • Specialization options

    The admission round to MSc in Economics and Business Administration for students applying with degrees from outside Finland is divided into 2 rounds:

    • Regular admission: 27.12.2023 – 12.01.2024
    • Rolling admission: TBA

    The following specialization will be open for regular admission:

  • Credits

    Master’s degree

    • Master of Science in Economics and Business Administration
      • 2 years = 120 ECTS

Admission criteria

The application process through Edunation is fast and simple. Students are pre-screened on a first-come, first-served basis. If you fulfill the admission requirements, you can get conditional acceptance in four weeks.

  • Admissions requirements

    Requirements change depending on the application period:

    • Regular: 27.12.2023 – 12.01.2024
    • Rolling: TBA

    Regular admission

    Educational background

    Applicants for the Master in Economics and Business Administration in the regular admission need to have the following the educational background to be eligible for admission:

    The bachelor’s degree must:

    • Be equivalent to 180 ECTS credits or more, i.e. it must be a degree of at least three years of full time studies
    • at least 30 ECTS in subjects relevant for the specialization or desired track so that the admitted students are able to start studies at advanced level
    • Give access to at least Master’s level studies in the country where the degree was conducted.

    Admission criteria

    To be eligible for regular admission, applicants need to have one of the following:

    • GMAT: a minimum overall test score of 550 in GMAT™ Exam or GMAT™ Online exam
    • GMAT Focus Edition: a minimum overall score of 515
    • GRE Exam or GRE General Test at home: a mimimum score of 150 in the Quantitative reasoning section
      • The institutional GMAT programme code for Hanken is NRC-QZ-86.
      • The institutional GRE reporting code for Hanken is 8433.

    NOTE! Only submit your application AFTER you have received your test result since you need to meet all admission requirements in order to apply.

    All tests need to be valid when applying, +30 days after submitting your application. Hanken must be able to verify the test results with the test provider in order for the result to be accepted.

    Language requirements

    One of the following language tests is required:

    No other English proficiency tests are accepted. Hanken must be able to verify the test results with the test provider in order for the result to be accepted.

    For more information click here.

  • Required documents

    Regular admission

    You need to submit the following documents electronically, in high quality scanned copies:

    • Copy of your Bachelor’s and/or Master’s degree certificate/diploma + possible official translations (if you have graduated)
    • Official transcript of records + possible official translations
    • Diploma Supplement (if available) + possible official translations
    • Official GMAT or GRE test taker’s score report
    • Officially certified certificate of GPA
    • Certificate of English language proficiency
    • Photo copy of the applicant’s passport
    • Copy of your residence permit if it exempts you from the tuition fee requirement
    • CV in English

    For more information click here.

  • Application instructions

    Read our general page about how to apply to study in Finland.

Tuition Fees & Scholarship

Tuition Fees

The fee for non-EU/EEA students at Hanken is 15 000 EUR/year.

Tuition Fee Payment Details at Hanken

First Year Students:

– Full annual tuition fee due by 15th June if studies start in August (mandatory in Finland for the first year of enrollment).

Second+ Year Students:

– Autumn semester tuition fee due on 1st August (academic year start).
– Option to pay tuition for Autumn semester or the entire academic year.
– Spring semester tuition fee due by 30th November.

Early Payment Option:
– Pay tuition by 15th June if needed for residency or housing renewal.

Invoice Delivery:
– Invoices sent via email in May for Autumn semester and early November for Spring semester.

Consequences of Late Payment:
– Failure to pay tuition on time may result in losing the right to study at Hanken.

Note: First-year students can only register as absent for legal reasons.

All non-EU/EEA students admitted to the Master’s Degree Programme in English are required to pay tuition fees at all universities in Finland. There are certain exemptions:

The fees will not concern those non-EU/EEA students who

  • are family members of an EU/EEA citizen (spouse/child; “EU –Family Member” stated on the residence permit card)
  • are already residing in Finland on a permanent basis (i.e. are equivalent to EU citizens, continuous (A) or permanent (P/P-EU) residence permit type)

More information concerning the exemptions to the requirement of tuition fee is found in the national application portal StudyInfo.

Hanken also offers a comprehensive scholarship system to support fee-paying students.

For EU citizens university education is free of charge.

All students in Finland regardless of nationality are obliged to pay an annual student union membership fee of approximately 120 EUR. More info on the student union fee is available on the Hanken Student Union’s home page.


Applicants are eligible to apply for a scholarship when applying to Hanken. All students admitted through rolling admission are to pay the tuition fee in full. After the application period has closed in May and students have been admitted, Hanken decides which student will be offered a scholarship. The scholarship is granted to the newly-admitted student on a merit-based system, where previous studies and high scores in aptitude and /or language tests are important.

  • Applying for a scholarship will not affect your application to the Master’s Degree Programme.
  • The scholarships at Hanken are merit-based. All scholarships are awarded based on the applicant’s academic excellence in the previous studies and applicable test score results.
  • All scholarships requirements demand the receiving students to keep a good pace within their studies. Annual check-ups are done to ensure that the student will graduate within two academic years. After two academic years the scholarship ends, and the student is required to pay tuition fees for the remain of their studies.

Scholarships offered to fee-paying students

  • Hanken Premium GBSN Scholarship, Covers the full tuition fee and 8000 EUR/year living expenses per academic year for two academic years
    • Hanken School of Economics offers two scholarships to students currently studying at or alumni of GBSN member schools from developing countries
    • Read more about GBSN scholarships at the official GBSN site.
    • The GBSN member schools are listed here.
  • Hanken Honors Scholarship, Covers the full tuition fee for two academic years
  • Hanken Honors Second Year Scholarship, exemption from the tuition fee during the second year of study for students who paid the tuition fee during year 1 and have studied successfully*.
  • Finland Scholarship, offers international students from outside the EU/EEA help in funding university education in Finland. Covers the tuition fee waiver of 12 500€ for the first year of enrolment and a 5000 euros relocation grant.

*defined in the scholarship agreement.


Check all the Universities here


Read more about those here