Hanken School of Economics is the oldest Business School in Finland and one of the oldest in the Northern Europe. Based in Helsinki, in 2019, Financial Times placed Hanken as 79th of all European Business Schools and it has the Triple Crown accreditation that is held by less than 1 % of the world’s Business Schools.

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As Hanken is a research-oriented university-level business school, research-based studies is a given. Students receive an education that gives them the tools to take on the future’s challenges; to think analytically and to communicate effectively for both academic and business purposes. Sustainability is one of Hanken’s core values – this means that students will understand the implications of social responsibility and sustainable development, with an international perspective.

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Tuition fee

12 500 € / year

Hanken is one of the most international universities in the Nordics and they are proud of it. All Hanken’s Bachelor students go on exchange and many of the Master 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 their 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 top 5 among Scandinavian/Nordic business schools in terms of research published in top journals of business and economics. Hanken also ranks in top 40 of all universities in the world in terms of research citation rate. European Commission’s HRS4R initiative awarded Hanken with ‘HR Excellence in Research’ label.

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


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

The rollind admission round to Business & Management specialisation for students applying with degrees from outside Finland is in February – May, 2020. The following tracks will be open in the rolling admission:

  • Marketing and Management (Vaasa)
  • Humanitarian Logistics (Helsinki)
  • International Strategy and Sustainability (Helsinki)
  • Marketing (Helsinki)

Master’s degree

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


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

Educational background

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

  • Bachelor’s degree within Economics and/or Business Administration, issued in a country outside Finland
  • If the degree doesn’t clearly state Economics and/or Business Administration, then at least the equivalent of 80 ECTS need to be completed within those fields.

Admission criteria

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

  • GMAT Test: Minimum score of 600, or
  • GRE Test: In Quantitative Reasoning a test score of at least 160 and in Verbal Reasoning a test score of at least 154, in Analytical Writing a test score of at least 3.5, or
  • BSc degree issued by one of Hanken’s partner universities or cooperation universities, with the GPA of 4/5 (80 %) of the whole Bachelor’s degree

All tests need to be valid when applying, +30 days after submitting your application.

The institutional GRE reporting code for Hanken is 8433. Applicants taking GRE General Test should use this code when registering for the test in order for the results to be sent to Hanken.

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.

Language requirements

One of the following language tests is required:

  • IELTS Academic: a minimum score of 6.5
  • TOEFL IBT: a minimum score of 92 (internet-based test) or 580 (paper-based test)
  • PTE Academic: a minimum score of 62
  • C2 Proficiency (previous name CPE): a minimum result of C1 (previously C)
  • C1 Advanced: a minimum grade of C

English language test is not required if your Bachelor’s degree has been completed in English in Australia, Canada, Ireland, New Zealand, the UK or the USA.

All applicants need to submit the copies of the following documents with their application:

  • Degree certificate
  • Transcript of records
  • CV
  • Passport
  • Results of GMAT or GRE Test, if not applying from one of Hanken’s partner universities

Note: All documents need to be translated to English, Finnish or Swedish, if the original document is in none of those languages. The translations need to be signed and stamped by an authorized translator.

After conditional acceptance, officially certified documents according to country-specific requirements from the institutions need to be sent in by the student to Hanken’s admission office within 30 days after accepting the conditional admission offer and paying the tuition fee. Exception: applicants who graduate after being conditionally accepted can send their official degree certificates until 31 July.

Tuitions Fees & Scholarship

Tuition Fees

The fee for non-EU/EEA students at Hanken is 12 500 EUR/year. The tuition fee can be paid in two instalments, annually, in the following manner:

  • The first instalment is to be paid when accepting the offer of admission, and the next payment’s deadline will be 15 July. This is to ensure that the funds arrive at Hanken before 31 July, if studies are to start in August that same year, as it is mandatory to sign up as present for the full first year of studies after admission.
  • It is also possible to make the payment in one instalment, when accepting the study place.
  • Second+ year students: first instalment is to be paid by 1 June, if studies are to continue during the Fall semester. The instalment for the Spring semester needs to be paid by 30 November.

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 Memb” 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 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 ended in May, and all 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

All Scholarships offered at Hanken are for two academic years.

  • Hanken Premium Scholarship:
    • Covers the full tuition fee and 8 000 EUR/year living expenses
  • Hanken Honours Scholarship:
    • Covers the full tuition fee
  • Hanken Support Scholarship:
    • Covers 50% of the tuition fee
  • GBSN Scholarship for students from developing countries:
    • Hanken School of Economics offers two scholarships to students currently studying at or alumni of GBSN member schools from developing countries
      • GBSN scholars will receive the Hanken Premium Scholarship, which covers full tuition fee for two years and 8000 EUR/year for living expenses.
      • Read more about GBSN scholarships at the official GBSN site.
      • The GBSN member schools are listed here.


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