Want to spend your semester abroad at one of Spain’s most prestigious business schools, right in the heart of one of Europe’s most vibrant capitals? Then CUNEF University in Madrid is the perfect place for you. Originating from the training center of the Spanish Banking Association, the university has evolved into a highly specialized institution for business, finance, law, and STEM, with AACSB accreditation—a distinction held by only about 6% of business schools worldwide. On our site, you’ll find all the key information about the university, the city, and more, and learn how your dream of studying in Madrid can become a reality. Who knows—maybe you’ll soon find yourself surrounded by tapas bars, world-class museums, and one of Europe’s most important financial hubs, ready to start your next chapter there!
CUNEF Universidad was founded in 1973 by the Spanish Banking Association as the Colegio Universitario de Estudios Financieros. For decades, it was an affiliated centre of the Universidad Complutense de Madrid before officially receiving university status in 2019 and operating as a fully independent university from the 2021–22 academic year. These deep roots in the financial sector remain the university’s distinctive strength today: few Spanish universities have such a close-knit network of connections with banks, consulting firms and international financial companies.
Today, its academic offering is organised into three distinct areas of focus: Business Administration and Economics; Mathematics, Computer Science and Digital Business; and Law and Institutions. In total, students can choose from 17 bachelor’s and double bachelor’s degrees and 11 master’s programmes, all of which are clearly application-oriented and meet high academic standards. At CUNEF Universidad, practical relevance is not just lip service but a way of life: over 2,000 partnership agreements with companies and institutions ensure that 99% of students complete an internship during their studies, many of them with top international employers in banking, consulting and tech. This is complemented by an intensive career service offering job application training, recruiting events and direct access to corporate partners.
Internationality further shapes the campus: over 160 partner universities in Europe, the Americas and Asia enable CUNEF students to spend a semester abroad, while several hundred international students from over 50 countries come to Madrid each year, enriching campus life with diverse perspectives. An International Student Office and a buddy programme make it significantly easier to settle into Spanish student life. The teaching itself is characterised by small groups and close interaction with faculty members, many of whom have backgrounds in the finance and consulting industries. This combination of academic depth and direct market relevance pays off: with an employment rate of 98% within one year of graduation, CUNEF Universidad ranks among the universities in Spain that best prepare students for their careers. In 2023, Forbes Magazine also named it the best private university in the country, further evidence of the high quality of its teaching, student support and career guidance.
Since March 2023, CUNEF Universidad has operated from its new Almansa Campus, located in the heart of Ciudad Universitaria in the Moncloa district—Madrid’s traditional university district—directly adjacent to Chamberí. Spanning over 18,000 square metres, the campus features four completely redesigned buildings conceived with sustainability in mind: photovoltaic systems provide part of the energy supply, smart lighting and climate control systems reduce energy consumption, and lecture halls are equipped with state-of-the-art acoustic and digital technology for both in-person and hybrid teaching. The new main campus brings together teaching, research, and student life under one urban roof. Flexible learning spaces, group work areas, and dedicated spaces for career events complement the traditional lecture halls. For international students, this means state-of-the-art infrastructure, short distances within the campus, and—despite its downtown location—a surprising amount of green space and tranquility for studying.
The Almansa campus also holds the international AIS accessibility certification at its highest level, with a 5-star rating, reflecting its commitment to an inclusive, accessible and high-quality learning environment. In addition to the Almansa Campus, CUNEF Universidad also has a second site in Ciudad Universitaria: the Pirineos Campus, home to its Escuela Politécnica Superior. This campus strengthens the university’s presence in Madrid’s main academic district and supports the development of its STEM-related programmes, particularly in areas such as computer science, mathematics, engineering and digital business.
The existence of two campuses in Ciudad Universitaria reinforces CUNEF Universidad’s institutional positioning as a specialised, urban and well-connected university, with easy access to the metro, parks and the city centre. Together, the Almansa and Pirineos campuses provide a coherent academic ecosystem that combines business, economics, law and STEM education, while enhancing the university’s ability to attract national and international students seeking a high-quality academic experience in Madrid.
With approximately 3.3 million residents in the city and over 6.5 million in the metropolitan area, Madrid is Spain’s vibrant capital and one of Europe’s liveliest cities. Wide boulevards, historic squares like the Puerta del Sol and the Plaza Mayor, world-class museums such as the Prado and the Reina Sofía, and the sprawling Retiro Park come together here in a city that has just as much to offer at night as it does during the day: Madrid’s nightlife ranks among the best in Europe, and the tapas and bar culture invites you to linger in nearly every neighborhood.
For international students, Madrid offers a particularly smooth transition to studying abroad: The city is considered safe, open, and cosmopolitan, with a huge Erasmus and exchange student community where you can quickly make friends. The public transportation network—comprising the metro, buses, and Cercanías trains—is among the most extensive in Europe, making a personal car unnecessary. If you’d like to travel from time to time, Madrid-Barajas Airport and a well-developed high-speed rail network provide quick access to other Spanish cities or major European metropolises.
When it comes to housing, Madrid is one of the more expensive cities in Spain, but it’s generally more affordable than major cities like London, Paris, or Munich. Shared rooms in popular neighborhoods close to campus—such as Moncloa, Argüelles, or Chamberí—are particularly in demand among international students and cost between 450 and 650 € per month, depending on location and amenities. Alternatively, private student residences in Madrid offer all-inclusive packages that include meals and common areas. However, these are noticeably more expensive, ranging from 700 to over 1,000 € per month.
Munich Business School (MBS) offers you the chance to combine your studies in Munich with a semester abroad at CUNEF Universidad in Madrid—all within a single program! You can complete your semester abroad at CUNEF Universidad as part of:
Note: Despite careful maintenance of our content, individual details regarding the semester abroad may occasionally change. For binding and up-to-date information, we recommend checking our partner university database.
Have you found a degree program that interests you? If so, you can easily apply through the MBS application portal. Provided you meet the necessary academic and language requirements, you will then be invited to a selection interview. It’s best to apply early to ensure you have the best chance of being accepted to both Munich Business School and CUNEF Universidad!
Once your application to Munich Business School has been accepted and you have successfully enrolled in a bachelor’s or master’s program, your time as a student in Munich begins. During your first semesters at Munich Business School, you’ll learn important business fundamentals, choose your areas of concentration and electives based on your degree program and interests, and collaborate with your fellow students on exciting projects.
The first semesters at Munich Business School are also the ideal time to plan your semester abroad at CUNEF Universidad. When you’ll study abroad in Madrid depends on your degree program and when you started your studies. If you’re pursuing a bachelor’s degree at Munich Business School and began your studies in the fall, your semester abroad will take place during your fourth semester. However, if you started your bachelor’s program in February, you’ll go abroad in the sixth semester. For master’s students, the semester abroad is scheduled for the third semester. The MBS International Center is here to provide you with advice and support as you plan your semester abroad at CUNEF Universidad and will answer all your questions about course selection, housing, and student life.
Once you’ve successfully completed your first semesters at Munich Business School and finalized your plans for your semester abroad at CUNEF Universidad, it’s finally time to get started. Yay, your semester abroad in Madrid is about to begin! Immerse yourself in the new (university) culture, make new friends, soak up everything around you, try new things, and create memories that will last a lifetime! One thing is certain: the experience of studying abroad in Spain will stay with you forever, and you’ll return a changed person. After your semester abroad, you’ll either return to Munich Business School for one to three more semesters (Bachelor’s program) or complete your degree with your thesis (Master’s program).
To qualify for a business degree program at Munich Business School—and thus also at CUNEF Universidad in Madrid—you must meet certain academic and language requirements. MBS offers several application rounds. We recommend applying early, as the number of available spots is limited.
Studying at CUNEF Universidad in Madrid is a dream for many young adults—and for good reason! At the same time, studying abroad in Spain is a big step that requires careful planning and financing. To help you organize your plans as best as possible, this FAQ provides answers to common questions about studying at CUNEF Universidad.
Yes, CUNEF Universidad is one of Spain’s most prestigious private universities, particularly in the fields of business, finance, and law. It is one of the few universities worldwide to hold AACSB accreditation, which covers all 13 business and management programs and ranks the university among the top 6% of business schools globally. The QS ranking system also awards CUNEF Universidad a full 5-star rating, and in 2023, it was named the best private university in Spain by Forbes Magazine. With an employment rate of 98% one year after graduation, the university is also among the country’s top universities for career outcomes.
If you combine your studies at Munich Business School with a semester abroad at CUNEF Universidad as part of the exchange program, you will not incur any additional tuition fees in Madrid as an exchange student. You’ll continue to pay only the regular tuition at MBS. The only costs you’ll need to budget for are your living expenses there, such as rent, food, and leisure activities. While Madrid is on the pricier side compared to other Spanish cities, it’s generally more affordable than comparable European capitals like London or Paris.
The housing market in Madrid is popular and in high demand, especially in neighborhoods close to campus such as Moncloa, Argüelles, or Chamberí. However, if you start your search early—ideally a few months before the semester begins—you should have no trouble finding a suitable room in a shared apartment or a spot in a student residence. Facebook groups, specialized housing portals, and the International Office at CUNEF Universidad also help international students with their search. Thanks to the large Erasmus community in Madrid, you’ll also quickly connect with other international students.
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