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.

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Overview

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.

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Semester starts

Autumn 2024

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Application period

Regular Admissions: 27.12.2023 – 12.01.2024

Rolling Admission: 25.10.2023 – 23.04.2024

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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.

HELSINKI CAMPUS ADDRESS

Arkadiankatu 22
00100 Helsinki
Finland

VAASA CAMPUS ADDRESS

Kirjastonkatu 16

65100 Vaasa

Finland

WEBSITE

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.

STUDY PROGRAMS

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, Humanitarian Logistics, International Strategy & Sustainability, Marketing, and Marketing & Management programs are open.

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.

  • Required documents

    For Regular and Rolling:

    • Bachelor’s degree certificate
      • Must include: name of the institution awarding the degree, the date of issue, and the name of the person to whom the degree certificate has been issued and which title/degree the person has been awarded
    • Transcript of Records
      • Must include: name of course units, completion time of study units, grades, credits
    • Grading Scale
      • This is a document explaining the credit system used during the bachelor studies / grading system
    • English Language Proficiency certificate
      • Please upload a copy of your test results to the application form. 
      • Request the test organization to give Hanken access to your test result so that HANKEN can verify your result in the test organizer’s verification portal.
    • Official GMAT or GRE test taker’s score report 
      • The institutional GMAT programme code for Hanken is NRC-QZ-86.
      • Applicants taking the GMAT test should use this code when registering for the test in order for the results to be sent to Hanken or request the results to be sent to Hanken School of Economics – Master’s Degree Programmes.
      • The institutional GRE reporting code for Hanken is 8433.
      • Applicants taking GRE General Exam should use this code when registering for the test in order for the results to be sent to Hanken.
      • Upload a test taker’s copy of your test result with your application
    • CV in English (for regular admissions only)
      • must be written in English and should be 1-2 pages. The format is free.
      • The main purpose of the CV is providing a timeline as support in the academic evaluation but is a mandatory application enclosure for all applicants.
      • Note that all application documents are public information, so please do not include sensitive information such as information on health conditions, religious and political affiliation, union membership, relationship status, assets etc.
    • Passport ID page OR official ID card indicating nationality
      • Scanned copy must be clear
  • Admissions requirements

    Requirements change depending on the application period:

    • Regular: 27.12.2023 – 12.01.2024
    • Rolling: 25.10.2023 – 23.04.2024

    Educational Background

    Regular Admission:

    • Bachelor’s degree must be equivalent to 180 ECTS credits or more (at least three years of full time studies)
    • give access to at least Master’s level studies in the country where the degree-awarding institution is located.
    • completed at least 30 ECTS in subjects relevant for desired master’s programme
    • If you are applying based on a Master’s degree, the degree must give access to PhD studies in the country where the recognised institution is located.

    Rolling Admission

    • Bachelor’s degree with the major subject Business Administration and/or Economics from a university or a university of applied sciences located outside Finland.
      • if the degree does not clearly state the degree’s title/major subject to be Business Administration and/or Economics, then your BSc degree needs to include at least the equivalent of 80 ECTS of studies in Business Administration and/or Economics.
    • 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.
    • NOTE! You cannot apply based on a Master’s degree in this application round.

    GMAT/GRE

    For Regular Admission:

     

    For Rolling Admission:

    Language Requirement

    Regular & Rolling: 

    Please upload a copy of your test results to the application form. Request the test organization to give Hanken access to your test result so that HANKEN can verify your result in the test organizer’s verification portal. Any one of the following is accepted:

    • TOEFL: min score of 92
    • IELTS: min score of  6.5
    • Cambridge C1 Advanced: min score of Grade C
    • Cambridge C2 Proficiency: min score of Level C1
    • PTE: min score of  62
    • GMAT™ Online Exam: min overall score of 550 (all test sections must have been completed)
    • GMAT™ Focus Edition: min overall score of 515 (all test sections must be completed)
    • GRE: min score of 150 in the Verbal Reasoning section and 3.5 in the Analytic Writing section (all test sections must be completed)
    • Bachelor’s/Master’s degree or secondary education conducted in English language in: the EU/EEA, Switzerland, Australia, Canada, Ireland, New Zealand, the UK or the US (no other countries are accepted)

    More details about language requirement

  • 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.

Scholarships

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, Tuition fee waiver 100 % for duration of first degree at Hanken and 8000 EUR/year for living expenses.
    • Only awarded to students currently studying at or alumni of GBSN member schools from specific developing countries. Requirement during the studies is to complete at least 60 ECTS and achieve a GPA of 3.0 by the end of each academic year.
    • Read more about GBSN scholarships at the official GBSN site.
    • The GBSN member schools are listed here.
  • Hanken Premium Waiver, Tuition fee waiver of 50 % of tuition fee for duration of first degree at Hanken.
  • Hanken Waiver, Tuition fee waiver of 25 % of tuition fee for first academic year of enrolment.
  • Finland Scholarship, Tuition fee waiver 100 % for first academic year of enrolment and 5000 EUR re-location grant.
    • The re-location grant is transferred to the scholarship recipient if they have completed 10 ECTS during Teaching Period 1

 

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