MBA in Singapore: Comprehensive Course Guide
MBA in Singapore, a flexible 1.5-2 year program available at a cost of around 60,000 USD to 90,000 USD. The business schools in Singapore have a formidable impact on the global education. When planning to pursue MBA in Singapore, students get to choose from a number of specializations such as Finance, Marketing, Strategy and Organization , Health Care Management and more.
Nicknamed as ‘ lion city ‘, Singapore is a part of the Four Asian Lions and rivals. It is also reputed as a global financial hub and a raft of business schools. Ranking 20th in the QS Best Student Cities 2019, and a desirability rank of 8th, Singapore is the gateway to Asian job market and the new rising star in study abroad destinations. With an MBA degree in Singapore, you expect to earn up to 180,000 USD an year.
Why Study MBA in Singapore?
- Singapore is a country which lays a lot of importance on the education sector with 19.96% of its total expenditure invested on Education out of which 35.28% invested on higher education.
- It also holds home to 5 best universities in Asia according to the Times Higher Education World University Rankings
- National University of Singapore and Nanyang Technological University at no.1 and no.5 respectively.
- Many private universities like INSEAD, James Cook University, MDIS, SP Jain School of Global Management are among the top universities globally.
- Four business schools in the singapore were recognized by Financial Times Global Rankings-2020
- This includes INSEAD, NUS, Nanyang Business School, and SMU
- Studies say that in 2018, MBA enrolment at Singaporean business schools shot up to 3,531 blooming with international students from China, Vietnam, and India.
- Many universities in Singapore have tie ups with foreign universities, inviting students from across 30 countries around the globe.
MBA in Singapore: Top Business Schools
Master of Business Administration (MBA) is an internationally recognized degree course that trains you on the skills required for business management and administration. The top business schools in Singapore offering MBA are tabulated below with their rankings and program durations:
|Rankings (global MBA ranks)/Global Ranking||University||Program Duration||Tuition Fees (USD)|
|#15||National University of Singapore (NUS)||17 months||45,000 (FT)|
|#35||Nanyang Technological University (NTU)||12 months||45,000;|
|#63||Singapore Management University(SMU) – Lee Kong Chian School of Business||1 year(10 weeks internship)||48,000|
|-||James Cook University||16 months||26,853|
|-||SP Jain School of Global Management||16 months||31,200|
|-||Nanyang Institute of Management||1 year||43813;|
|-||PSB Academy||16 months||23,688|
|-||Amity Global Institute||1 year||15,545 (university of London)|
15,546 (University of Northampton)
|-||ESSEC Business School||1 year||51,805 USD|
NUS offers specialized management programmes for students with an engineering background to learn and continue in fields related to their previous study. With some popular business schools offering MBA programs with global standing, Singapore is now catching up with the race of becoming a heavy-selling MBA brands.
Best Business Schools for Executive MBA in Singapore
Executive MBA is a professional degree offered to executives and professionals who wish to add educational value to their pre-existing experience and learning. Some of the famous B-schools for their Executive MBA in Singapore are as follows:
|University||Program & Duration||Approx Tuition (USD)|
|NUS||UCLA-NUS Executive MBA (15 months)||125,000|
|NUS Executive MBA (15 months)||77,000|
|INSEAD||Global Executive MBA (14-17 months)||130,000-140,000|
|Tsinghua INSEAD Executive MBA||125,000|
|SMU||SMU Executive MBA||130,000|
MBA in Singapore: Admission Process
In the sections below, you will go through the overview of the admission process & requirements in Singapore and other details you must be aware of as an international students who wants to pursue studies in Singapore.
How to apply
Most universities have online application forms. The intake for aspirants for MBA happens in three months, September, October, and January. For most of the popular business schools in the Singapoer the commencement of the MBA program is during April.
MBA in Singapore: Eligibility Criteria
When planning to study in Singapore, an applicants is required to fulfill certain requriements for successful admissions at popular business schools. Eligibility for MBA in Singapore includes the basic criteria that every applicant must fulfill for most of the business schools and university-specific criteria. The latter basically deals with the specific score requirements for pursuing MBA from a specific business school in Singapore.
General Eligibility Criteria
- Language Proficiency Tests- IELTS, TOEFL ( For non-native English speakers)
- GMAT/GRE scores, not mandatory
- A Bachelor Degree in any field from any recognised university
- A minimum of 2.8 CGPA at the graduation level. This is equivalent to 83% or B grade.
- A minimum 2 years of working experience
University Specific Eligibility Criteria
tabulated below is the detail of specific score and other additional eligibility that an international students may have to fulfill for pursuing MBA in Singapore
|University||Scores||ELP Test Scores||Application Portal|
|INSEAD||GMAT score required||TOEFL – 100|
IELTS – 6.5
|National University of Singapore (NUS)||GMAT-600;||TOEFL: 260|
|Nanyang Technological University (NTU)||GMAT: 600||IELTS: 6.5|
|Singapore Management University(SMU) – Lee Kong Chian School of Business||GMAT: 600||TOEFL: 100|
|James Cook University||Preferred||TOEFL: 90|
|SP Jain School of Global Management||GMAT: 650||IELTS- 6.5|
|Nanyang Institute of Management||GMAT: Required competitive score||IELTS: 6.0|
|PSB Academy||GMAT preferred, 3 years work experience||TOEFL- 93|
|Amity Global Institute||GMAT: 610||TOEFL: 92|
|ESSEC Business School||GMAT: Competitive||TOEFL: 100|
Applicants must note that having previous work experience is always an added advantage when making applications. As GMAT and Work experience have a weightage of their own when admission decisions are made, it is always suggested to the applicants to ensure that these are not missed out while sending in your applications.
The documents required when sending in your applications for Singaporean Universities and B-school are discussed below. For most of the documents scanned copies can be sent along with the applications. Original documents may be required to be submitted at the time of enrollments with the university:
- Application fees Receipt
- Passport details
- student Pass (for non – Singapore citizens)
- Past academic documents
- Tuition grant: if applied for any
- Financial aid applications
- Awards/ Recognitions/ co-curricular activities/ extracurricular activities/ competitions
- Criminal Offence records, if any
- Medical report stating any disability or illness
- Scores of tests that are required for studying in Singapore.
MBA in Singapore: Cost of Study
The cost of study when studying abroad broadly comprises all your expenses from pre-departure to post-departure and tuition fees for MBA in Singapore. Detailed below are the expenses an international student suffers when planning to study in Singapore. It is always preffered that student is familiar with the expenses and plans ahead of them, to ensure a smooth experience.
These are mostly one-time expenses which include the cost of various applications fees, like Singapore student visa, application fees of colleges, tests required to study in Singapore, etc. Some of these are listed below:
|Type of Expense||Cost (USD)|
|Visa Application Fees||42|
MBA in Singapore: Tuition Fees
For MBA in Singapore, the fees ranges from 15,000 USD to 90,000 USD, depending on the university. A latest survey established by Singapore Business Review shows that on an average, an MBA Degree in Singapore can cost you around 100,000 USD including tuition fees, accomodation, fooding and entertainment.
A higher fee does not mean a higher quality of education. Many colleges with low fees provide a very high quality of education and vice versa. So,do not judge any course or university on the basis of the fees. Fees from some of the top universities is depicted in the image given below:
The cost of studying MBA in Singapore for an Indian students will be approximately equal to 11 Lacs to 74 Lacs depending on the choice of the university.
Cost of Living in Singapore
After the admission process, once you arrive in Singapore to study there are living costs which you would like to consider. The cost of living in Singapore will depend on various factors. The average pocket pinch is tabulated below:
|Particulars||Average Monthly costs(USD)|
MBA in Singapore with Scholarships
There are 3 types of grants and scholarships for financing studies in Singapore, these are Government Scholarships, External Scholarships, and University- specific scholarships. Some of the popular scholarships in each category is explained below:
International students are eligible for grants. While they don’t have to repay the grants, students do have to sign a bond that requires them to work in Singapore for at least three years after graduation. Amount- Depends on the course fee and the amount of education loan taken by the student
Some of the scholarships you can avail while PG degree in Singapore are as follows:
- Singapore International Graduate Award(SINGA): It awards an amount of 1500 USD.
- The Financial Sumo Educational Scholarship Program: Amount awarded to international students 1000 USD.
- Central Sector Scheme of National Overseas Scholarship: Award amount is around 15400 USD.
- Go Clean Scholarship: Offering students an award of 3500 USD.
- BrokerFish International Student Scholarship: International students are awarded around 1000 USD under this scholarship.
- Global Study Awards: Amount offered to international students is 12,995 USD.
University – Specific scholarships for MBA in Singapore
Some of the top universities offer scholarships to international students pursuing MBA in Singapore. These are mentioned below:
- Lee Kong Chian Graduate Scholarships at NUS: Amount offered- 16000 USD
- INSEAD Antonio Borges Endowed Scholarship: Amount offered - 11,286 USD
- Nanyang Scholarship: Amount- 6500 USD per year + full coverage of subsidised tuition fees
MBA in Singapore: Scope
Having an employment rate of only 2.2%, Singapore offers employment opportunities to people all around the globe. On an average the business schools in Singapore have placement records of around 90% . Students get placed in companies like Microsoft, Dell,Boston Consulting Group and many more. With a MBA degree from NSU Or INSEAD or the top business schools, you can get an average salary of 76,000 USD annually.
Return on Investment
According to NUS( National University of Singapore) data, the average salary received ranges from 88,000 USD to 180,OOO USD. The maximum placement being in Australia in sectors like Technology,Financial Services, Consulting.
For NTU(Nanyang Technological University), the average salary after 3years of work experience is 126,000 USD. Alumni from the university were able to secure job roles from around the world. Given below is an table detailing the percentage of alumni absorbed in job roles in various continents and countries.
|Continent/Country||Percentage of Alumni Placed|
|South East Asia||9|
As per FT MBA Rankings given below are the weighted salaries of the alumni of globally ranking business schools in Singapore compared with their tuition fees
The image suggests that the salaries offered to MBA graduates from Singapore is considerably good and the time of return on investment is also relatively less. Chosing MBA in Singapore over USA/UK/India can be dependent on various factors , one of these is ROI. Though USA is an economic powerhouse and make offer better paying jobs, but the huge of amount of tuition fees and stringent admission procedures make Singapore a better destination for study. Various top business schools ranking around the business schools of Singapore had lesser weighted salaries recorded of the alumni.
Reputed MBA institutions in India includes IIMs which not only have a stringent admissions process but also require a high CAT score. With a huge number of applicans sitting for CAT, scoring an optimal score to make your way through IIMs is difficult. On the other hand, MBA in Singapore not only has comparatively less stringent admissions policy but also has relativley lower requirements for various test scores. It also offers Indian students with a chance of studying abroad and experience multi-cultural learning.
Jobs after MBA in Singapore
For planning a career post degree you will require a work visa for SIngapore. A n MBA graduate in Singapore is moslty rewarded with various managerial job roles. Some of the popular job roles and average annual salaries offered in Singapore to MBA graduates have been discussed below:
|Job Designation||Average Annual Salaries (USD)|
|Business Development Manager||96,800|
|Asst. Business Development Manager||74,300|
Study Visa of Singapore
After receiving the offer letter from the business school you have applied for, you need to apply for a student pass to enter Singapore. Discussed below are the visa regulations and how you can apply for a Singapore study visa.
The institute will file for the student pass for Indian application to Singapore Immigration and CheckPoint Authority(ICA).The fee for the student pass varies from college to college. Normally it takes a time period of 2-3 weeks for the documents to get processed and to get the Singapore student visa passes. In order to get the student pass you would need the following documents:
- Student Visa application Form-ICA form 16 and form V36
- One Passport size photo( preferably the one in passport)
- Visa application fee bill
- Transcripts (Mark sheets from class 10 to graduation)
- Affidavit of Support to be given by the sponsor on Rs.20 stamp paper(nonjudicial)
- Test scores that your college required, such as the TOEFL, GRE, GMAT,GRE
- Work experience Certificate
- Bank loan sanction letter(if necessary)
Some interesting aspects you can consider while applying for an MBA in Singapore are most universities have collaboration with local and international companies who organize business workshops and seminars. All MBA programmes cover internships and work opportunities. Students are assigned team projects all across the semester which teach them to explore, develop managerial and organizational effectiveness and communication skills. The courses are well planned giving students opportunities to work for 16 hours approximately for their pocket money. An MBA from Singapore can offer you a hike of as much as 148% over your previous salaries, as per FT rankings.
Ques. Is MBA in Singapore worth it?
Ans. The business schools in Singapore offer a wide variety of MBA courses including some specialised courses for students with technical background. The flexible courses will give you time and opportunity to work for some extra bucks. Singapore being a part of the four major economies, offer high employment opportunities post MBA
Ques. Is GMAT required for MBA in Singapore?
Ans. GMAT is not mandatorily required for pursuing MBA in Singapore. Many top ranking universities skip GMAT as one of the eligibility criteria. Instead an applicants is required to have a minimum 2 years of work experience and 2.5 to 2.8 CGPA.
Ques. How much does a MBA degree in Singapore cost?
Ans. The average fees ranges from 50,000 USD to 90,000 USD approximately, depending on the university and the course. This will be equivalent to 11 Lacs to 74 Lacs for an Indian student.
Ques. Which MBA is best in Singapore?
Ans. Some of the top tiered universities for MBA in Singapore are National University of Singapore(NUS), INSEAD Business School, Nanyang Business School, and Singapore Management University. These universities rank globally among top 100 as per FT Rankings
Ques. What is the eligibility for pursuing MBA in Singapore?
Ans. You must have a bachelor's degree in a relevant field, for top universities your score should be around 83% or more. GMAT scores (not mandatory) and work experience of around 3 years is also required.