The RSM MScBA in Accounting & Financial Management is one academic year’s duration. Core courses are compulsory and will be offered during the autumn semester (22 EC). Master electives (18 EC) are offered during the spring semester, of which one elective can be chosen from another MSc programme. During the year, students work on a master thesis project (20 EC).
Please note that certain electives may be very popular. Although we can place most students in the elective(s) of their choice, there are no guaranteed places.
View all core courses below:
This course integrates advanced managerial accounting topics with recent techniques of financial management and strategic analysis. It focuses on preparing, evaluating and interpreting financial information for managerial decision making in different types of organization (manufacturing and service companies; for-profit and not-for-profit). Topics covered include advanced cost allocation techniques (like Time-Driven Activity-Based Costing), evaluation of financial information to support project appraisal and capital budgeting, pricing strategies, as well as the latest techniques for customer profitability analysis and other short- and long-term investment decisions.
The course involves the extensive use of the case method to analyse and discuss how financial information integrated with non-financial information is used to effectively support managerial decision making. Students are expected to apply appropriate analytical frameworks to diagnose and solve complex problems by emphasizing the connection between financial information and data analysis techniques that fit with management’s specific needs. The course provides a highly interactive environment that combines theory and practice sessions with group assignments, presentations and discussions.
Review the course guide for more details.
This course provides an overview of the key issues in financial reporting. We use International Financial Reporting Standards (IFRS) as our anchor and relate the requirements for selected topics to the underlying concepts and principles. This will help you learn to make informed judgements and think critically about financial reporting problems. These are necessary skills for your future career, whether you will be preparing, auditing or using financial statements. But perhaps even more importantly, this course examines the international and political processes that shape the accounting standards and practices in Europe and the rest of the world. For every selected reporting topic, we take a step back to look at the underlying problem and critically evaluate the solution that the current standards provide.
Financial reporting is a powerful tool that influences the allocation of scarce resources across market participants. Although the IFRS Conceptual Framework identifies investors as the primary users of financial reports, we consider the economic consequences and impact on other stakeholders and society at large. The current accounting standards and practices are central to this course, but we critically discuss the limitations of financial statements. In addition to the traditional, shareholder-oriented view of financial reporting, we explore alternative views as guided by the UN’s Sustainable Development Goals (SDG’s). We discuss the challenges of measuring and reporting a firm’s performance and financial position, in a changing business environment. The course contributes to developing a critical mindset that helps you to address the challenges of financial reporting and your knowledge on how your decisions and actions, as a future financial manager, accountant or controller, affect investors, other stakeholders and society.
Taught by Dr M. Koning.
Accounting is the language of business. Given that the role profile of financial managers has broadened substantially in recent years with a particular emphasis on management skills, accounting and financial management graduates from our programme more than ever need to be able to communicate the key implications of this (sometimes complicated) language to a variety of different audiences in a convincing and easy manner.
Therefore, the department of Accounting and Control offers this 1 EC course to provide students with the necessary tools for preparing a good presentation and communicating its key messages effectively. It is mandatory for all incoming students in accounting and financial management.
The course format will be multiple sessions with experienced coaches and companies. To pass this course, students will need to attend the sessions. An alternative assessment format will be to prepare a presentation on a subject recorded on video.
Taught by N. Constantinescu.
In this course in ‘Business Analysis and Valuation’ you will learn the basic concepts of financial statement analysis, enabling you to understand how financial reports are used by investors and to take a fundamental approach to equity (and debt) valuation.
The course has a practical emphasis. We adopt the view of an active investor and apply methods of fundamental analysis in a series of real-life exercises, cases, and assignments involving listed companies. We examine various valuation methods—residual earnings, abnormal earnings growth, and discounted cash flow approaches to valuation, among others—and ask which one will give us an edge. We do all this under the strict discipline of a fundamentalist: separate what you know from speculation and anchor in what you know from analysing financial statement information.
Just as importantly, we learn how to handle accounting and financial reports in valuation. We see that valuation is really a matter of accounting for value. The course combines accounting principles and investment principles to answer the question: How do I account for value so that I can challenge stock prices with some confidence?
As members of RSM, we aim to be a force for positive change in the world, using as guidance the framework set out by the UN Sustainability Development Goals (SDGs) to address the most urgent social, economic, and environmental challenges. Business analysis and valuation can play a leading role in allocating resources to sustainable companies and, thereby, accelerate the transition to a sustainable economy. We will discuss how environmental, societal, and governance (ESG) performance affects firm value. For example, a strategy analysis (Learning Goal (LG) 2) includes the assessment of a firm’s innovation (SDG 9) and responsible production (SDG 12), which can significantly affect a firm’s expected profitability and growth, two key drivers of future performance and value. Credit agencies may increasingly lower their assessments of firms’ creditworthiness (LG 7) for environmental liabilities expected to result from pollution (SDG 6). Similarly, when pricing risk for valuation purposes, environmental damages significantly affect a firm’s cost of capital (LG 8).
The course discusses techniques that are commonly used in an equity research department of a bank, independent research firm, or equity hedge fund. However, the material covered in the course is just as relevant to the corporate business analyst or financial consultant, for private equity analysis, for evaluating acquisitions, restructurings and other investments, and for calculating the value generated by strategic decisions. Thus, the course is of interest to those contemplating careers in investment banking, security analysis, accounting, consulting, and corporate finance.
Taught by Dr C.P.R. Pietsch.
The course introduces students to analytical methods that support the creation and communication of business-relevant knowledge from accounting and financial management data. Accounting and financial management specialists inside and outside the firm use data analytics in various tasks. Examples of such tasks are forecasting sales, uncollectible accounts, and cash flows to support budgeting and planning decisions; journal entry validation to support data accuracy analysis and fraud detection; and investment selection using big data and scenario modeling. This course familiarizes students with essential analytical tools in accounting and financial management. It covers the following areas:
Data management. Creating knowledge from data requires identifying and managing decision-relevant data. The course brings students hands-on experience with relational database management systems (SQL), eXtensible Business Reporting Language (XBRL) data, and R procedures for collecting, cleaning, and structuring data.
Data visualization. Students learn to create data visualizations and dashboards that help evaluate data quality, communicate insights, and support informed decision-making.
Analysis of structured financial data. Students learn to understand and apply descriptive analytics (e.g., identifying red flags in accounting data), diagnostic analytics (e.g., understanding cost variances), and predictive analytics (e.g., in financial forecasting, budgeting, and reporting) using the above tools and supervised machine learning techniques (such as regression, k-nearest neighbor classification, and decision trees).
Analysis of textual data. Students learn to understand and apply various approaches in textual data analysis, helping them capitalize on the increasing availability of textual data relevant to accounting and financial decisions.
The course consists of (1) lectures that focus on theory and illustrations and (2) workshops that focus on skills development, with an emphasis on data analytics using R.
Taught by Prof Dr E. Peek.
The aim of Your Future Career is to prepare students at an early stage in their MSc for their career.
When you care about what you do, you will enjoy your work more, create greater impact, and be more successful in being a force for positive change. However, it can be difficult to identify what your passion is, where your competencies and skills will be useful, and which professional environment and culture are the best match for you. Therefore, RSM Career Centre has developed a course to put you in the driver's seat of your career, and to support you in identifying your first career step after graduation and preparing for it.
The online modules of “Your Future Career” will help you make crucial steps towards the most suitable internship or job for you. You can decide yourself if you want to reflect on your interests and motivations, develop knowledge of the job market, functions, companies and industries, receive peer feedback on your application materials, have contact with an alumni mentor or attend an interactive workshop.
The Your Future Career course takes place in block 1 and 2 and is awarded 1 EC based on pass/fail.
Contact: RSM Career Centre via firstname.lastname@example.org
Taught by Dr M. Szymanowski & L. Keir.
All electives are listed below:
Financial statements are an important source of information for stakeholders like shareholders, creditors, employees, the general public etc., to value their prospective claims. Over time, accounting scandals like Enron, Worldcom, AIG and Lehman Brothers have indicated that managers have incentives to use their discretion to affect financial reporting in order to serve their own benefits. Thus, to reassure stakeholders and restore and strengthen their confidence in financial statements, regulators require firms to have their financial statements assured by third parties, namely auditors or certified public accountants (CPAs). CPAs are the equivalent to Dutch register accountants. This course addresses the function and relevance of auditors in more detail and considers the decisions and dilemmas that auditors are faced with as part of their job.
The role of the financial controller is changing in ways that mirror those of the broader finance function. Rather than serving as a rear-view mirror that only provides information about historical performance, the financial controller increasingly participate in the analysis and formulation of solutions to higher value-added, strategic issues. Reliance on forward-looking techniques tools allows the finance function to anticipate the future needs of the company to drive appropriate action, improve the current operating results and eventually maximize the bottom line.
The dynamic and integrative role of the controller function in business corporations is the focus of this course. Classes cover the principles underlying planning and control decisions in functional and divisional organizations, as well the design and consequences of responsibility accounting and performance measurement systems under various market conditions. The course also extends to financial controller’s roles in budgeting, strategic planning, pricing, risk management, corporate finance and investment related decision making.
Taught by Dr F. Elsinger.
This course covers the more challenging and complex issues that analysts, investors, and financial advisors encounter when they evaluate company performance and firm equity value. It adopts a very pragmatic approach towards valuation. Students will be taught how valuation works in practices while drawing from theory. We have selected three analytical challenges that will be discussed in more detail:
- Advanced Financial Analysis & Valuation Tools: Introducing Equity versus Enterprise value methods; identifying Enterprise Value Multiples; accounting issues in enterprise value; forecasting earnings for enterprise value; sum-of-the –parts valuation; Economic Value Added (EVA), real options in enterprise value; dealing with contingent claims character of equity and debt and valuation of private firms and start-ups.
- Understanding Risk in Analysis and Valuation: Sources of risk; motives for risk management; Miller & Modigliani and risk management; hedging with financial instruments; accounting for derivative instruments; reflecting risk management in financial statements; dealing with risk management in equity valuation and particularly understanding how firms manage risk in their supply chain. Cost of Capital complications, Capital Structure impact of risk management and how that affects equity value.
- Applied Analysis & Valuation for Banks: Banking Business Models; regulatory background; financial statements for banks; controversial issues in reporting for banks; analyzing bank performance; drivers of value creations; decomposing return on equity for banks; applying valuation methodologies such as Dividend Discount Models, Equity Multiples for banks.
Taught by Dr S. Zori.
Machine Learning (ML) is enhancing any domain that aims to gather understanding from data. In the accounting domain, Machine Learning has been used to process legal contracts, board meeting minutes and invoices to identify key features of documents, analyze journal entries to spot outliers, automate journal entry creation from invoices, automate workflows such as tax returns and financial statement compilation, predict sales or uncollectible accounts receivable, and predict fraud. Such ML applications automate and augment the work of the accountant who is left to focus on tasks that require judgement and professional skepticism. Nevertheless, accountants are not passive recipients of ML results but rather, they use their domain knowledge to implement ML in their daily tasks. As such, accountants, in their roles that support decision-making with reliable information, are expected, alongside understanding business processes and regulatory frameworks, to also be able to use and evaluate ML tools.
This course introduces accounting students to the basic ML tools, including techniques for supervised learning (e.g., logistic regression, decision trees) and unsupervised learning (e.g., principal components analysis, K-means clustering) as well as methods of ML model assessment and selection (e.g., cross-validation and bootstrap) in the context of accounting applications. In addition, students are taught to use the programming language R to perform the full variety of tasks necessary for successful ML application and, more generally, extracting insights from data. This includes basic data preparation and transformation, exploratory analysis, data visualization, and model fitting and comparison.
Taught by Dr I. Sandu.
It is the main task of the Chief Financial Officer (CFO) to ensure that the firm has a sufficient amount of access to finance and to ensure financial stability over time. In order to reach this, the CFO is assisted by the Treasury Department. During this course, students are getting familiar with the different activities of the Treasury Department. These activities include cash management, working capital management, debt management, equity management, investment management and risk management. Cash management includes everything that the treasurer does in order to ensure a stable cash position both now and in the future. Working capital management discusses the matching of the current assets and current liabilities to ensure a sufficient amount of liquidity. Debt and equity management discusses the several choices firms have to make when issuing debt or equity respectively. Investment management talks about the possibilities and choices that firms have when they want to invest today’s excess cash to ensure future income. Risk management discusses the several types of risk that firms are exposed to in their daily activities, such as exchange rate risks and interest risk.
Taught by Dr S. van Kampen.
Taxes affect many business decisions, such as: where to invest, what organizational form to choose, how to finance a business, when and where to recognize revenues and expenses. This is an introductory course providing you with an overview of what taxes exist, to which natural or legal persons they apply, how taxation affects business decisions, and what the fundamentals of domestic and international taxation are.
The course combines financial accounting, tax accounting, and investment principles to answer the question: How do I take tax-optimal business decisions? This knowledge is complemented by information about recent political developments in the area of taxation. The content from the lecture is applied and deepened during workshops. Guest lectures provide additional insights from practice.
The fundamentals in domestic and international taxation form basic knowledge of auditors, tax advisors, and practitioners in the accounting or tax departments of multinationals. Thus, the course is of interest to those contemplating careers in accounting, consulting, and corporate finance.
Taught by Dr S. Kohlhase.
Corporate takeovers are one of the most important corporate events. Furthermore, during the takeover process firms encounter several challenges, such as legal, cultural, and regulatory hurdles. Overall, the argument to take over another firm must be very compelling. However, takeovers intensify agency problems between the stakeholders, most importantly between the management and the shareholders. This course focuses on the role of corporate governance with special emphasis on the context of takeovers or mergers and acquisitions (M&A).
The goal of this course is to provide students with a general understanding of corporate governance mechanisms within the firm. It also highlights the importance of corporate governance in the context of M&As. Furthermore, the course combines theory, empirical evidence, and practitioners’ views on topics at the intersection of accounting, M&A, and corporate governance. Guest lectures throughout the course provide students with the unique opportunity to gain insights from and engage in discussions with specialists from the field.
After participating in this course we hope that you improve your decision making by recognizing that corporate governance plays a crucial part in takeover activities as well as in the functioning of the firm by reducing agency conflicts stemming from the separation of ownership and control.
Taught by Dr S. Vanhaverbeke.
Debates in managerial and finance theory about the way in which organizations and firms optimally communicate with their environment have been around for decades. Today the notion that organizations and firms need to adopt a broader view on performance measurement and reporting seems accepted by most. Various special interest groups, NGO’s, environmental organization, the general public, but also institutional investors are making the case that organizations and firms should provide more disclosure about the positive and negative impacts on society, and therefore its sustainability. Whereas firms’ traditional focus is on measuring and reporting shareholder value, firms are now challenged to satisfy the demands of the stakeholders interested in the societal and environmental value that firms generate. This development raises all kinds of questions about the possibility to provide such disclosures, its impact on firms reporting policies, the challenges to safeguard the validity and reliability of non-financial reports, as well as conceptual questions about the meaning of societal and environmental value. In addition, many question the motives of firms to adopt such broader perspectives, arguing that it will be a form of window-dressing at best, or will give firms to much freedom to report only desirables at worst.
This course explores the evolving debate in both academia and in practice from two perspectives:
- A performance measurement perspective, addressing the quest for conceptually sound management tools and frameworks that enable a more integrated measurement and reporting of firm performance;
- An accountability perspective, exploring the demands of the various stakeholders in the debate.
Combining relevant theoretical perspectives on current practices and developments the course contributes to developing a critical mindset that helps students to address the challenges and embed an integrated perspective on the performance measurement and reporting of firms and organizations.
The course starts by setting the stage and with reviewing the traditional view on the notion of value creation by firms in society. Then the course continues by exploring alternative views as guided by the UN’s Sustainable Development Goals (SDG’s). The main question is what these goals mean for managerial decision making in the firm, and for measurement and reporting the firm’s performance. We explore various tools for internal decision making like the use of true prices and carbon accounting. Moreover, we review current external reporting initiatives, such as the Global Reporting Initiative and the International integrated Reporting Council. In combination, students will learn how the various external demands on firms to move towards integrated performance measurement provides firms with challenges to their way of internal decision making and vice versa.
Economic theory treats people as if they were making rational choices. Yet, in practice, investors and managers do not always make rational decisions. In fact, a lot of CEOs admit that major business decisions come “straight from the gut”. And such judgement about money and investment plans are often clouded by biases and emotions. In the course of Behavioral Finance, we investigate how these behavioral biases impact our financial decisions, and how we can avoid the most common pitfalls.
Behavioral finance is the application of psychology to financial behavior of practitioners. It has gained prominence in academia. Daniel Kahneman and Richard Thaler were awarded the 2002 and 2017 Nobel Prize in Economics respectively for their contributions in the field. It is also appreciated by practitioners. Financial institutions such as Goldman Sachs, Merrill Lynch, ABN Amro, and Robeco all run funds employing behavioral strategies.
Taught by Dr L. He.
Management Control is about influencing the behavior of managers to act in line with the organization’s strategic objectives. In this course, we discuss what alternatives organizations have for ensuring good control, and how organizations should choose among control system alternatives. The main emphasis throughout the course will be on financial results control systems, which provide the dominant form of control in the vast majority of organizations. Topics covered include responsibility structures, target setting (as part of organizations’ planning and budgeting processes), performance measurement and evaluation, and the assignment of various forms of organizational rewards (including performance-dependent compensation).
Illustrations based on real-world cases are discussed, demonstrating when particular control systems are effective, and when they lead to dysfunctional managerial behavior. Ample attention is also paid to the fit with the organizational context, such as the strategy, structure, and culture. The latter part of the course extends the key notions of management control from the intra-organizational level to the inter-organizational level, highlighting some of the issues involved in the control of new collaborative settings and configurations, such as joint-ventures and various types of alliances, often involving global alliance partners.
Overall, this course is intended to broaden and deepen your conceptual and technical understanding of accounting as it is used for management control purposes. It will help you learn to make business decisions, evaluate organizational performance, or evaluate others (and/or be evaluated) through the use of financial and nonfinancial information. These are essential skills for your future career, be it in the position of managers, management consultants, or specialists in staff functions such as controllers, auditors, or human resource specialists.
Taught by Dr E. Reusen.
The course consists of eight sessions, that combine the following three elements: Econometric theory, paper discussions, and Stata exercises (most importantly in-class paper replications). In the ninth session, previously assigned groups present the results of a paper replication.
Presentations, interactive discussions and in-class Stata exercises are the main teaching methods used in this course.
I expect students to be prepared to perform statistical analysis during the lectures (including the first lecture), in other words, to get the most out of the course, students should bring a laptop with a working version of Stata.
You can pick up the Stata software and license at the IT service office yourself and install it during the first lecture(s).
Attendance is mandatory as follows: 8 out of 9 lectures.
Taught by Dr C.D. Peter.
AFM Honours Course
The honors class in Accounting and Financial Management provides excellent students with a challenging extra-curricular course focusing on latest developments in research and practice. The best 20 students will be selected based on their grades in the four core courses to follow the honors class in the 3rd and 4th block of their master program.
The course is taught by faculty of the Accounting and Control department and practitioners jointly. We will have four academic sessions covering the areas decision making, financial accounting, taxation and valuation. In addition, two guest speakers from large companies will share their experience with implementing external or internal requests for accountability. The guest lectures by practitioners will be prepared in class with cases and group discussions.
Participation is by invitation only.
Taught by Dr S. Kohlhase.
Note regarding taking courses if you are not an RSM master student: RSM does not offer the possibility for non-RSM students (master or otherwise) to take RSM MSc courses outside of official exchange partnerships or other inter-faculty agreements. If you are interested in learning more about corporate social responsibility, sustainability, or business ethics, please refer to our Open Programmes section.
Why this programme?
Accounting & Financial Management graduates are specialists in the financial information needed by managers and investors; how it is gathered, secured, checked and used in the ‘nerve centres’ of economic organizations and markets. They therefore know best how to use financial and non-financial information to help managers make economically sound decisions. Such decisions range from motivating and evaluating employees, deciding on investments or mergers and acquisitions, to scrutinizing new business opportunities.
Accounting & Financial Management graduates generally start their careers in one of the following four functional areas:
- As an (external) auditor at one of the Big Four or medium-sized accounting firms
- As an (internal) auditor at a large multinational corporation
- As a finance manager and control specialist (i.e., financial controller, treasurer, business analyst) at a large multinational corporation
- As a financial or valuation advisor at a consulting firm or the Transaction Services department of the Big Four accounting firms
Many of our graduates advance into senior management positions such as partner in an accounting firm, financial director, or senior business controller at a large company. An Accounting & Financial Management degree gives you a great start on your way to becoming a Chief Financial Officer, a Chief Audit Executive or Senior Audit Partner!
Non-EEA nationals who have earned a diploma from a higher education institute in the Netherlands can apply for a special residence permit called the orientation year after completing their studies. The 'Orientation Year for Graduates Seeking Employment' is a residence permit aimed at retaining foreign talent for the Dutch labour market. During this orientation year you are free to work without a work permit. Participants who find a job during this period can change their orientation year into a residence permit for Highly Skilled Migrants under more favourable terms.
For the most up-to-date information please visit the website of the Nuffic.
Find the Employment Factsheet for your MSc programme here.
You can read more about our graduates and their career progress from their LinkedIn profiles.
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MSc employment report
Vacancies for AFM students
Studying at RSM
The RSM Experience
Education for life
Studying at RSM will be a life-changing experience. Your master degree will prepare you for a fulfilling professional life as a capable, self-assured individual. It will make you valuable to business and attractive to employers because it teaches you skills that make the most of your innovative mind. You will be challenged in and outside of the classroom, and you will gain an education based on the latest developments in business. Your master degree from RSM will include RSM’s promise of life-long learning, and membership of the more than 40,000-strong alumni network that is present in more than 110 countries which hosts activities and events all over the world.
Open intellectual culture
Your education at RSM is valuable. You will learn from academics who produce the highest quality research and the most innovative management thinking. In the classroom, sharing and questioning opinions is encouraged – yours and those of your fellow students, as well as the professors’. Many of RSM’s faculty members are young and passionate professors and researchers with outstanding academic credentials. Their work is published in top international management journals.
Professors’ doors are always open for students who have questions, projects or ideas. Depending on the study programme, students have different opportunities to tailor their programme. This can, for example, take the form of a minors course, an internship, an exchange at one of over 160 partner schools worldwide, elective choices, the participation in a consulting project with a company or public sector organisation, or a thesis project in their specific area of interest. RSM’s strong links with local and international businesses and organisations offer opportunities for practical projects and real-life collaborations.
Rotterdam, a future-oriented city
Living and studying in Rotterdam has never been better. Rotterdam is home to one of the largest and busiest ports in the world and many multinational companies have their headquarters here. The city is famous for its stunning modern architecture, such as the Centraal Station or its covered food market, the Markthal. At the same time, the city authorities are forward-thinking in improving its liveability. There’s no shortage of restaurants, museums and theatres, yet Rotterdam is still an extremely student-friendly city with plenty of affordable student housing, and a bustling nightlife that includes events organised by students associations.
Find out more about life in the city of Rotterdam.
AFM Master Study Club
Explore the campus
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Fees & Scholarships
The combination of affordable tuition fees and living costs together with quality education and an excellent global reputation make a Masters degree at RSM a clever investment.
Tuition fees 2022-2023
The 2022-2023 tuition fee for the MSc programmes is approximately €20,700 for non-EEA students. The Dutch government contributes towards this cost for students who hold a nationality from a country belonging to the European Economic Area (EEA). These students therefore only pay the statutory fee of €2,209 in 2022-2023.
For EEA nationals who have already completed a master in the Netherlands (and obtained the diploma) the tuition fee for a 2nd master is approximately €12,000.
The MSc International Management - CEMS (18 months) is a longer programme, for which the tuition fee will have to be paid for the duration of the programme. The expected tuition fee for the 18-month MSc International Management - CEMS programme is €31,050 for non-EEA students and €3,314 for EEA students.
Please note that all these tuition fee tariffs are subject to change.
The number of scholarships is limited and mainly merit based. If a scholarship covers only the tuition fees, be aware that you need to finance your own living expenses (rent, food and insurances) for the duration of your studies. RSM does not offer scholarships for the pre-master programme. We do however offer a maximum of 2 scholarships per academic year to RSM pre-master students enrolling in an MSc programme.
Rotterdam School of Management, Erasmus University (RSM) offers multiple scholarships to prospective students from non-EEA countries who are not entitled to pay the EEA tuition fee, provided their grades are considered ‘excellent’. RSM also offers one scholarship, the Erasmus Trustfonds Scholarship, to students from EEA countries.
Besides scholarships awarded by RSM, there are also scholarships awarded by the Dutch government or other organisations that are available if you meet certain criteria such as nationality, age, etc We have listed some of them below but we encourage you to use resources such as Grantfinder or the Scholarship Portal to find additional scholarships.
- G&D Europe Scholarship
- NN Future Matters Scholarship
- Russia: The Global Education Programme
- Contact the Ministry for Higher Education in your home country to see whether there are scholarship options.
- We have virtual information session covering all you need to know about scholarships and financial aid. Watch it here.
After having filled in all of the necessary information on the Online Application Form (OLAF) and uploaded the required documents, applicants with a degree obtained outside the Netherlands will be asked to pay a non-refundable €100 handling fee. This fee can be paid online via the Erasmus Payment System which uses either iDEAL (for those with a Dutch bank account) or PayPal (which can be linked to any bank account or credit card worldwide). It is important that applicants complete the payment process as indicated, otherwise the system cannot register the payment.
The additional expenses in addition to tuition and general living costs vary per programme and may include:
- Study materials such as books, readers and business cases
- Costs involved in kick-off meetings
- Costs related to travel, international excursions and compulsory exchange semesters or internships abroad
For a reasonable standard of living in the Netherlands, you should have an income of approximately €1,000 per month or €12,000 per year (excluding the tuition fee). Here is an example of monthly expenditure:
- Furnished Accommodation, including gas and electricity €525
- Medical insurance €50
- Telephone €25
- Food €200
- Books, recreation, clothing, public transport, etc. €200
Total costs per month €1,000
Study and work - part-time jobs
Please ensure, prior to your arrival at RSM, that you have or will have sufficient funding available to finance your stay at RSM. Finding a part-time job, may be an option, but can not be guaranteed. You should therefore not rely on finding other ways to supplement your income during your studies. For additional information on obtaining a part-time job, visit the website of the Nuffic.
For EEA students there are no formal restrictions in finding work in the Netherlands, but students with a lack of Dutch language skills will find it difficult to secure employment. Non-EEA students are subject to labour regulations, which makes the likelihood of obtaining a work permit very small. We therefore ask students not to rely on this possibility. We do not encourage students to combine studies with the heavy workload from a part-time job.
The application for all programmes starting September 2022 are closed. The application for September 2023 will open 1 October.
Programme Deadline: 15 May or earlier if the programme reaches maximum capacity. This is a capped programme, which means that the maximum number of applications we accept is 320. The application form will remain open until 15 May or until the maximum number of applications has been submitted (whichever comes first).
Important immigration information for NON EU/EEA Full-time BScIBA and MSc students
Depending on your nationality, you might need an Entry Visa and / or Residence Permit for the Netherlands, issued by the Dutch Immigration and Naturalisation Service (IND). Students can only apply for an Entry Visa and / or Residence Permit through the RSM/ Erasmus University. Only with a valid Entry Visa and / or Residence Permit you are allowed to study at RSM/ Erasmus University.
Needless to say that RSM/ Erasmus University is not the institution that determines the requirements. The IND is the official governmental body that sets the rules and procedures.
Full-time BScIBA and MSc students who accepted their offer and hold a passport from an EU/EEA country do not need to apply for an Entry Visa and / or Residence Permit.
Full-time BScIBA and MSc students who accepted their conditional or unconditional offer and have a nationality and hold a passport of one of the following countries: Australia, Canada, United Kingdom, Japan, Monaco, New Zealand, South Korea, USA or Vatican State.
Full-time BScIBA and MSc students who accepted their conditional or unconditional offer, have a nationality and hold a passport of one of the countries mentioned in Group III and IV. This procedure also applies to students with a Surinamese nationality.
Note for Chinese students
Obtain a Nuffic Certificate : All Chinese students (with the exception of students from Hong Kong, Taiwan and students with a British Overseas Nationality) must register with EP-Nuffic for a ‘Nuffic Certificate’ before their immigration application can be started. The certificate is a document providing an assessment of your English language proficiency and of the authenticity of your educational degrees and diplomas. For more information, see the Nuffic website
Validity Entry Visa
An Entry Visa is valid for 90 days (counted from the day that you pick up your Entry Visa).
Validity Residence Permit
A Residence Permit is valid for the duration of your study plus three extra months. This means that you do not have to apply for an extension after one year.
I already have a Residence Permit for another EU/EEA Country
NON-EU/EEA students holding a (permanent or temporary) valid Residence Permit (e.g. for study purposes) for another EU/EEA Country no longer need to apply for an Entry Visa for the Netherlands. For these students, the procedure for a Residence Permit application applies. A copy of the EU/EEA-Residence Permit must be uploaded in your application. The Residence Permit must be valid at the time of the application, and still be valid when the student collects his/her Residence Permit in the Netherlands.
I already have a Residence Permit for the Netherlands
NON-EU/EEA students holding already a Residence Permit for the Netherlands (e.g. for study purposes, stay with partner or family, employment), need to apply for Switching Institutions, Change of Purpose or an Extension of your Residence Permit. Requests can be sent after being completely registered (onwards September 1st) to EUR International Office: email@example.com or 3 months prior to the expiration of your permit.
The Financial Requirements (determined by the IND)
Before your immigration application is sent to the IND, you are required to prove that you have sufficient financial means to cover your study (only for the first year of your study)
- the Tuition Fee (BSc IBA €9,600.-, MSc €18,700.-;
- the Immigration Fee (€ 192.-)
- the Costs of Living for 12 months (€11,400.-: €950.- for every month of your stay in the Netherlands)
Note: it is not possible to pay your tuition fee in instalments
Contact details for the immigration application
Your main point of contact for the immigration application at RSM/ Erasmus University is Ms. Joyce Maliepaard.
Once you have a conditional or unconditional offer you receive the ‘Immigration application process’ (from mid March on). The guidelines explains the procedure to successfully process your application. After having received the information you will be registered in student registration system ‘Osiris Zaak’ (‘Osiris Zaak’ opens in April).
After your registration in 'Osiris Zaak' your main point of contact is EUR Internatinonal Office (firstname.lastname@example.org). The immigration documents and invoice for the payment of the fees will be sent to you in 5 working days.
Deadline for MSc students
The deadline for uploading your immigration application documents and your proof of payment in 'Osiris Zaak' is: JUNE 15th. If this deadline is not feasible for you, please send an email to email@example.com
Deadline for BScIBA students
The deadline for uploading your immigration application documents and your proof of payment in 'Osiris Zaak' is: JUNE 15th. If this deadline is not feasible for you, please send an email to firstname.lastname@example.org
Release date: March 2021
Housing information for full-time RSM students coming to Rotterdam
Although a complete and useful overview of housing information for International Students can be found on the housing pages of the Erasmus University, the information below especially applies to RSM’s first year BScIBA and MSc students coming from abroad. Arranging your stay
As in many major European cities, the demand for reasonably priced housing in Rotterdam is very high. Therefore, make it your number one priority and start searching immediately after being conditionally or unconditionally admitted to our BScIBA or one of the MSc programmes. As campus housing is limited, you may have to look for a room on the private market or seek other alternatives.
The ‘Short Stay Accommodations’ of RSM is run by the housing corporation SSH Student Housing (SSH), specialized in letting furnished accommodation.
For our first year BScIBA and MSc students coming from abroad, we reserve a range of furnished accommodations. Students can only apply for ‘Short Stay Accommodations’ for the first 12 months of their study (it is not possible to rent a room for less than 12 months). After 12 months you have to find accommodation by yourself. The SSH Accommodation is not available for partners or family of the student.
Important: This message applies to all the students who have registered for the SSH housing for the 2022 academic year!
Please note that RSM has only 130 rooms to be divided among BSc and MSc students. A fair distribution will be made under the students. As SSH housing is limited, not every registration can be approved. Please be patient and waiting any approval. To increase your chances we strongly advice you to look for more housing possibilities here.
It is not possible to correspond about the result, neither by email nor by telephone
Available SSH housing/accommodation for BScIBA & MSc students
The SSH has four dorms you can choose from: one on-campus (Hatta Building) and three off-campus, only 15 minutes walking from the university (D'Blaauwe Molen, Overhoningen and Erasmus International House). All rooms/apartments are fully fitted and furnished (not self-contained) and located at Struisenburgdwarsstraat in the district of Kralingen, This district offers everything that a student needs: the Erasmus University, little shops and typical student pubs are around the corner. The centre of Rotterdam and the Kralingse Bos are just a stone’s throw away. In most cases you have communal cooking facilities and sanitary fitting. Accommodations can not be visited in advance, but descriptions of the different buildings are available on the SSH website. Please not that rental prices are re-indexed every year.
When am I eligible to register for a room at the SSH ?
You can register for a room once you have been conditionally or unconditionally admitted to the first year BScIBA programme or one of the MSc programmes.
When and how can I register for a room at the SSH?
- Tuesday 12 April 2022 at 12 PM: Start registration
- Tuesday 21 April 2022 at 12 PM: Start booking
IMPORTANT NOTE: The SSH start the registration for all Bachelor students (Erasmus University students) on April 12th, while the BScIBA students get the outcome onwards April 15th. This means that RSM start approving your registration at the earliest on Thursday 21 April. The date of registration for the MSc students has been changed:
Go to SHH* and fill in:
Your educational institution: Erasmus University Rotterdam (EUR)
Type of Resident: EUR Full Year Student (15 August 2022 - 31 July 2023)
When and how can I reserve a room at the SSH?
You can reserve a room and only see all the available rooms once your registration has been approved by the RSM. The approval proces for BScIBA students takes place onwards 19 April and for the MSc students on 12 May.
For BSc students: select and reserve a room
Log in to My SSH to reserve a room within 7 days*:
* If you have not selected a room within 7 days, your application will be set automatically to “not approved”. After this period you can no longer reserve accommodation via SSH (to give other students also a fair chance to apply for accommodation).
SSH will handle the whole process – from making a room reservation to payments. For more information about the Terms and Conditions, the Rental Guide and the FAQ’s, please visit the site www.sshxl.nl/en. Any questions can be addressed to: Rotterdam@sshxl.nl
Xior Building is a student building right next to the campus of the RSM/ Erasmus University. This 8th floor building upholds 280 studio apartments with all private bathroom and kitchen facilities.
Registration & Reservation opens on:
- Wednesday 11 May 2022 at 12.00 PM
Fixed rental period: 19 August 2022 – 7 August 2022
RSM is not in charge for the rental of these rooms and is only for students coming from abroad. Your registration will be checked by the Real Estate Services Department of the Erasmus University. All your questions can be addressed to email@example.com
The RSM/Erasmus University has a partnership with the companies SSH, XIOR, The Cohesion Cobana, Roomplaza and the Student Hotel. Additional information on the below mentioned housing providers, and many more, are listed on the Erasmus University Housing pages.
International Student Housing Rooms (ISHR)
Is a private initiative to manage shared living properties in The Netherlands. It was founded by former students of Erasmus University Rotterdam, who now work in the financial industry. ISHR is not an intermediary. It is a landlord-owned operating platform, developed based on lessons learned from a decade of interactions between international students and Dutch private landlords.The EUR has agreed on a partnership with ISHR and we have reserved around 40 flat share rooms exclusively for our first year International Bachelor or Master students.
Registration starts on:
Monday 2 May 2022 at 12 PM. Fixed rental period: 10 August 2022 - 31 July 2023
The Cohesion Cobana
Located in Katendrecht, Rotterdam. Katendrecht is a vibrant part of Rotterdam with a central location. The FIZZ Cobana has a variety of Friends apartments. This unique concept is a great way to share living space of your apartment, but still have all the privacy you want with your own bedroom. As a student of the Erasmus you will have a possibility to live with other Erasmus students in a Friends apartment. It’s a perfect blend of privacy and sociability, whenever you want it. The Erasmus University has reserved for its International students 40 rooms.
How to register? Please find here all the information.
Offers students the possibility to rent a flat with a group of like-minded people. They have 80 rooms for BSc and MSc students. You can apply as an existing group or use your find-a-flat mate tool to form your own. RoomPlaza has a safe booking process with a 100% guarantee of avoiding scams by fake accommodation providers. How to register? Please find here all the information.
The Student Hotel
A hotel located in Kralingen Rotterdam which offers fully furnished rooms with a private bathroom, shared or private kitchen, WiFi, flat screen TV. Included in the price is a bike, use of the gym, study rooms, lounges and game rooms, 24-hour reception, laundry room and a restaurant/bar
How to book a room? Please find here all the information.
Updated: 2 May 2022
Hostels in Rotterdam
Boat Hotel – a short stay apartment on a historical ship in the centre of Rotterdam.
King Kong Hostel - a very cool hostel that blends industrial design with 21st century contemporary art. It has a superb location in the beginning of Witte de Wittestraat which is in the heart of Rotterdam’s social scene and all the city’s best bars and restaurants are on your doorstep.
Hostel ROOM Rotterdam – located in Rotterdam’s historic Scheepvaartkwartier, near a beautiful little harbour. There are lots of good places for wining and dining in the area and close to the city’s main park.
Hostel Stayokay – this hostel is located in the city centre of Rotterdam in the striking cube houses. Next to Metro station “Blaak”.
As tenancy agreements are often only provided in Dutch (huurovereenkomst), we recommend you to view the additional information on this topic provided on the Erasmus University website. There you can also find information on Dutch housing terms, and other information on how to arrange your stay and other useful tips, for example on how not to get scammed.