Fellows also get six months of paid training with their company after they graduate.
To apply, candidates only have to put their resumes forward and wait to see whether they are accepted. Deutsche Bank and Gazprom Germania are both accepting applications this year.
Russian student Natalia Nazarova applied to the programme and secured a fellowship from Allianz before she arrived to study.
“I was so happy about the fellowship because I was planning to work in Germany after graduating. I needed the initial work experience abroad and my fellowship allowed that.”
“I came to Allianz's headquarters to work in the departments responsible for Eastern Europe,” she adds. “I was moved around, starting off in finance before I was moved on to business and marketing.”
Natalia’s background is in internet consulting, advising companies on how to improve their business processes by using internet technologies. Now that she’s finished training with Allianz (and an additional two months of work experience), she’s decided to return to her old line of work with her new professional networks and skills.
“I have good contacts now and my horizons have widened. I understand business issues more - not just my own industry anymore but also others.” Natalia says she now feels more comfortable thinking of starting her own business.
The scholarship is currently open to anyone applying for the 2012 intake. Trainee fellows earn €1,000 per month and have MBA fees paid for them – which were €57,500 for the class of 2010-2012.