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MBA in Singapore – 2021 All you need to know!

SOURCE: HDFC Credila – Education Loan

Why Singapore?

  • Singapore, as a business education destination, provides a wide range of MBA programmes as well as opportunities for long-term employment. Professionals who wish to play the role of future managers are interested in studying for an MBA in Singapore because of its high-quality education, inexpensive courses, and existence of a dynamic economy.
  • Students pursuing higher education in Singapore have a diverse range of programmes and schools from which to choose. Hundreds of MBA courses are available from a variety of higher education institutions around the country.
  • Students who choose Singapore as their MBA destination can choose between a traditional MBA program that focuses on general management or a more unconventional option such as specialized MBA programs that focus on niche industries such as healthcare management, consulting, and logistics, to name a few.

Colleges for MBA in Singapore

Students who opt to study abroad nowadays are looking for more than just top universities. Standard criteria have shifted away from specialised education and toward what the country as a whole has to offer the student in exchange for the money. Singapore is a popular choice for students looking to study abroad since it provides high-quality education, integral growth, value for money, safety and security, and the option to work in the country after graduation. Singapore is a unique country that shines in terms of what it has to offer international students, such as its rich history, vibrant culture, fascinating tourist attractions, and delectable cuisine.

Best MBA Colleges in Singapore

The Master of Business Administration (MBA) is an internationally renowned degree program that prepares you to manage and administer businesses. International students can enroll in a flexible 1.5-2 year MBA program in Singapore for roughly 60,000 USD to 90,000 USD. This is estimated to cost up to 65 lakhs of rupees for Indian students. Those interested in pursuing an MBA in Singapore should have roughly 80% in their bachelor’s degree, a TOEFL score of 92-100 or other equivalents, and GMAT/GRE results (optional for some colleges). Only a few MBA universities in Singapore often demand work experience.

The following are the best business schools in Singapore that offer MBA programs:

PSB Academy

It is one of the best private educational institutions in Singapore. It offers MBA courses in the field of finance and accounting, marketing, business management, and human resources. The average cost of doing an MBA is around ₹ 12 lakhs

SP Jain School of Global Management

With its campuses across India and abroad, SP Jain School is one of the topmost management colleges across Asia. It offers courses in finance, operations, human resources, marketing, and logistics management. It also offers several exchange programs all across its campuses. The average cost of pursuing an MBA degree is around ₹ 23 lakhs.

Management Development Institute of Singapore (MDIS)

It is one of the oldest professional institutions in Singapore. It has collaborated with universities from the US, Australia, the UK, and France. It offers courses in supply chain management, banking and finance, and marketing and branding. The average cost of pursuing an MBA degree from MDIS is around ₹ 12-₹ 15 lakhs.

East Asia Institute of Management (EAIM)

It is one of the best private colleges in Singapore. It offers specialization in marketing, finance, strategic planning, and human resources. The average cost of pursuing an MBA degree in EAIM is around ₹ 13 lakhs.

Yale-NUS College

It is one of its kind colleges in Singapore and Asia at large. It was established as a collaboration between the National University of Singapore and an emeritus Yale professor. It offers a three year MBA degree. The average cost of pursuing an MBA degree at Yale-NSU College is around ₹ 22 lakhs.

Universities for MBA in Singapore

Singapore is home to one of the best university systems in the world in terms of management courses. Universities in Singapore are a hub of excellence, intellectual growth, student welfare practices, and diversityTop universities for MBA in Singapore are as follows:

National University of Singapore (NUS)

It is one of the topmost universities in Asia and a leading comprehensive research university. It boasts of more than 38,000 students from all around the world. It offers a 17-month MBA program in various disciplines. The average cost of pursuing an MBA degree from NUS is around ₹ 33 lakhs.

INSEAD Singapore

It is one of the leading business schools in Asia. Its Executive MBA Program is quite famous all around Asia-Pacific. It offers specialization in accounting and control, marketing, finance, entrepreneurship, and decision sciences. The average cost of pursuing an MBA degree from INSEAD is around ₹ 60-₹ 70 lakhs.

Nanyang Technological University-Nanyang Business School (NTU-NBS)

It is one of the world’s top 50 fastest growing universities with a research-oriented environment. It offers specialization in general management, strategy and innovation, finance, human resources, and marketing. The average cost of pursuing an MBA degree from NTU-NBS is around ₹ 37 lakhs.

Singapore Management University-Lee Kong Chian School of Business (SMU-KCSB)

It is a leading university in Asia and is especially known for its accounting, business, and economics programs. It offers specialization in corporate finance, financial accounting, managerial economics, marketing, operations management, organizational behavior and leadership, and strategic management. The average cost of pursuing an MBA degree from SMU-KCSB is around ₹ 38 lakhs.

James Cook University (JCU)

It is an off-campus of JCU, Australia, and offers the Inter-Campus Mobility Program. It has been awarded The Edutrust Star, which is one of the highest levels of quality assurance in Singapore. The average cost of pursuing an MBA degree from JCU is around ₹ 22 lakhs.

Colleges for MBA in Singapore

Students who opt to study abroad nowadays are looking for more than just top universities. Standard criteria have shifted away from specialized education and toward what the country as a whole has to offer the student in exchange for the money. Singapore is a popular choice for students looking to study abroad since it provides high-quality education, integral growth, value for money, safety and security, and the option to work in the country after graduation. Singapore is a unique country that shines in terms of what it has to offer international students, such as its rich history, vibrant culture, fascinating tourist attractions, and delectable cuisine.

Best MBA Colleges in Singapore

The Master of Business Administration (MBA) is an internationally renowned degree program that prepares you to manage and administer businesses. International students can enroll in a flexible 1.5-2 year MBA program in Singapore for roughly 60,000 USD to 90,000 USD. This is estimated to cost up to 65 lakhs of rupees for Indian students. Those interested in pursuing an MBA in Singapore should have roughly 80% in their bachelor’s degree, a TOEFL score of 92-100 or other equivalents, and GMAT/GRE results (optional for some colleges). Only a few MBA universities in Singapore often demand work experience. The following are the best business schools in Singapore that offer MBA programs:

  • National University of Singapore
  • Nanyang Technological University
  • James Cook University
  • SP Jain School of Global Management
  • ESSEC Business School

MBA Colleges in Singapore Ranking

The top ten MBA programs in Singapore are shown below. These colleges are proud of the wage packages their graduates have received from many major corporations across the country, in addition to providing good education. Business schools such as INSEAD, NTU, and NUS are among the top 50 in the QS World MBA Rankings.

  • National University of Singapore
  • Nanyang Technological University
  • Nanyang Business School
  • Singapore Management University
  • INSEAD-Singapore

MBA in Singapore Eligibility

When applying to study in Singapore, a candidate must meet certain criteria in order to be accepted into one of the country’s top business schools. Eligibility for an MBA in Singapore comprises both general requirements that all applicants must meet for most business schools and university-specific requirements. The latter is concerned with the precise score requirements for studying an MBA from a particular Singapore business school. 

University-Specific Eligibility Criteria

Name of the UniversityGMAT ScoresEnglish Language Proficiency Test Scores
INSEADGMAT score requiredTOEFL-100, IELTS-6.5
NUSGMAT-600TOEFL CBT-260,IELTS-7.5
Nanyang Technological UniversityGMAT-600IELTS:6.5,TOEFL-100
James Cook UniversityPreferredTOEFL iBT:90,IELTS-6.5
Singapore Management UniversityGMAT-600TOEFL:100, IETS-7.0
SP Jain School of Global ManagementGMAT-600IELTS-6.5

Eligibility for MBA in Singapore for Indian Students

For Indian students, Singapore is a desirable study destination. Singapore colleges accept students based on their academic records rather than entrance exams, making them even more appealing to recent graduates.

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 recognized university
  • A minimum of 2.8 CGPA at the graduation level. This is equivalent to an 83% or B grade. 
  • A minimum of 2 years of working experience.

Cost of MBA in Singapore

When studying abroad, the cost of study encompasses all of your expenses from pre-departure to post-departure, as well as tuition fees for an MBA in Singapore. The costs that an overseas student incurs when preparing to study in Singapore are listed below. To have a smooth experience, it is always preferable if the student is aware of the expenses and plans ahead of time.

Pre-Arrival Costs

Type of ExpenseCost in USD
Visa Application Fees42
TOEFL Fees160-250
GMAT Fees250
IELTS Fees185-190

Tuition Fees:

Depending on the university, MBA fees in Singapore range from 15,000 USD to 90,000 USD. According to a recent poll conducted by Singapore Business Review, an MBA degree in Singapore costs roughly $100,000 USD, including tuition, housing, food, and entertainment.

Living Expenses

Type of ExpenseAverage Monthly Costs
Accommodation142-490
Travel100
Food400
Miscellaneous200

Fees for MBA in Singapore

Total fees for MBA will range from S$38,520 to S$51,360.The monthly cost of living for a student ranges from S$400 to S$800. It varies depending on the type of lodging, location, and the number of people sharing the room. You’ll need an additional S$400 to S$800 per month for extra living expenditures in addition to your rent.

Scholarships for MBA in Singapore

Government Scholarships, External Scholarships, and University-specific Scholarships are the three types of grants and scholarships available in Singapore for financing studies. The following are some of the most popular scholarships in each category:

Government Grants

Grants are available to international students. While students are not required to repay the subsidies, they must sign a bond committing to work in Singapore for at least three years after graduation. The amount is determined by the course fee and the student’s education loan.

External Scholarships for MBA in Singapore

The following are some of the scholarships available to you while pursuing your MBA in Singapore:

  1. Singapore International Graduate Award(SINGA): Amount -1500 USD.
  2. The Financial Sumo Educational Scholarship Program: Amount awarded-1000 USD. 
  3. Central Sector Scheme of National Overseas Scholarship: Award amount is  15400 USD. 
  4. Go Clean Scholarship: Award amount -3500 USD. 
  5. BrokerFish International Student Scholarship: The amount awarded is 1000 USD.
  6. Global Study Awards: International students are eligible for a total of $12,995 USD. 

University – Specific scholarships for MBA in Singapore

International students pursuing an MBA in Singapore may be eligible for scholarships from some of Singapore’s leading colleges.

The following are some of them:

  1. Lee Kong Chian Graduate Scholarships at NUS: Amount offered- 16000 USD
  2. INSEAD Antonio Borges Endowed Scholarship: Amount offered – 11,286 USD
  3. NUS MBA Study Awards: NUS offers a variety of MBA scholarships with varying amounts.
  4. Nanyang Scholarship: 6500 USD per year in addition to complete coverage of discounted tuition prices

Jobs for MBA in Singapore

Singapore offers you one of the most promising working environments and jobs in Asia-Pacific. With a burgeoning financial center, a lot of financial and technological firms have set-up their headquarters in Singapore. With a low unemployment rate of a mere 1.9%, Singapore is a promising land for high-skilled management professionals. With a high-class research-based educational system, the return on investment (RoI) is quite high, and as high as 92% of graduates are employed within three months of graduating. The average salary of an MBA graduate in Singapore is around ₹ 67 lakhs.

Executive MBA in Singapore

An Executive MBA degree from Singapore is one of the most sought-after Executive programs all over Asia-PacificMany universities in Singapore like NUS, INSEAD, SP Jain, SMU, etc offer top-notch Executive MBA programs all over Singapore. The average age of a candidate for Executive MBA in Singapore is around 40 years whereas the average work experience is about 14 years. The average tuition fee for pursuing an Executive MBA in Singapore is around SGD 100,00.

MBA Jobs in Singapore for Freshers

For international students finishing their MBA degrees in Singapore, the Singapore government provides extensive career prospects. Graduates with a bachelor’s degree might look for suitable work on online job boards or at university-sponsored job fairs. Following are the top jobs for freshers:

Job TitleAverage Salary/year in Singapore dollars
Account Coordinator89,640
Benefits Analyst75,360
Assistant Brand Manager108,720
Accounting Associate51,240
Accounting Assistant49,560

MBA in Singapore for Indian Students

Education in Singapore is a dream come true for those who wish to pursue a career in management. The MBA program in Singapore is one of the best in the world. Singapore has a high cost of living, but this can easily be managed by applying for education subsidies and working part-time. Apart from that, students are actively involved in a variety of practical exercises throughout the course, which allows them to gain valuable work experience, and cultural holidays and communities of like-minded people do not cause students to feel homesick, even if they are staying thousands of miles away.

Here are some reasons to pursue an MBA in Singapore:

  • A shorter duration of study: The MBA program in Singapore comprises over ten subjects selected from a wide range of topics encompassing all aspects of modern management. It can be completed in 12 to 16 months by students.
  • Getting a student visa for Singapore is easy: Following successful admission, universities in Singapore will manage the application for a student visa. The student only needs to provide the necessary documentation; colleges will handle the application and notify the student once the visa has been accepted.
  • Great job opportunities: Singapore has been named one of the finest business hubs in the world. More than 4,200 enterprises have regional headquarters in the city. MBA graduates have excellent job prospects that no other city in the region can match.
  • Multicultural societies: Singapore is a multiracial society with four primary ethnic groups: Chinese, Malay, Indian, and Others. Temples, mosques, and synagogues are all close to each other.
  • There is a large selection of Indian cuisine available: Indians are Singapore’s third-largest ethnic population, and there are many Indian eateries and supermarkets.
  • A closer neighbour to India: Singapore is closer to India than the United Kingdom, the United States, or Australia. Traveling between these two countries will be considerably easier because of the 4-5 hour flight time.

MBA in Singapore Online

Are you looking for a flexible, convenient, and cost-effective way to accomplish these objectives? Then go no farther than an online MBA program, which provides you with a comprehensive education focused on business and general management skills for a fraction of the cost. The MBA distance learning program is a great place to start if you want to take the next step in your career and become a successful manager or business owner. Its worldwide focus also qualifies you for the global job market.

Eligibility for MBA in Singapore

The eligibility criteria for MBA in Singapore can be stated as follows:

  • A candidate must have a bachelor’s degree from a recognized and reputed institution or university with an exceptional academic record.
  • A candidate should have a minimum of two years of work experience.
  • A candidate must have at least a 2.8 CGPA or an equivalent degree
  • Some universities may take GMAT, GRE, IELTS, and TOEFL score cards depending upon their criteria.

Eligibility for MBA in Singapore for Indian Students

For Indian students, Singapore is a desirable study destination. Singapore colleges accept students based on their academic records rather than entrance exams, making them even more appealing to recent graduates.

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 recognized university
  • A minimum of 2.8 CGPA at the graduation level. This is equivalent to an 83% or B grade. 
  • A minimum of 2 years of working experience.

Requirements for MBA in Singapore

The basic requirements for an MBA degree in Singapore are having a sound academic background along with a three-year or four-year equivalent bachelor’s degree. An English proficiency test of IELTS or TOEFL or equivalent is required for applicants who have not studied primarily in the English language. A two-year work experience is usually mandatory.

Salary Offered to MBA Graduates in Singapore

With Singapore’s GDP per capita being one of the highest in the world, the salary offered to MBA graduates is generally in five or six figures with Executive MBA being the highest earnerSalary offered to MBA graduates in Singapore may vary from SGD 78,000- SGD 109,00

Jobs for MBA in Singapore

MBA students in Singapore have access to a co-dependent environment that allows them to learn in a thriving digital economy and transition into careers in a globalized world. Singapore is quickly establishing itself as one of the most popular MBA locations in Asia and around the world, thanks to low investment costs and attractive career prospects.

Singapore is one of the world’s most popular MBA destinations. It competes with Shanghai and London as one of the world’s fastest-growing business cities. The thriving MBA employment market, as well as the financial help available to students, are just two of the reasons why students from all over the world come to Singapore to pursue their education.

MBA graduates in Singapore receive some of the highest salaries in the country when compared to national averages.

The following are the top MBA recruiters in Singapore, as well as the salary ranges they offer:

EmployersAverage Salary per year in Singapore Dollars
DBS32,672- 1,38,799
Standard Chartered Bank36,011-2,00,189
National University of Singapore31,064-1,05,507
Citi Bank34,831-2,21,336
Grab48,693-1,39,688
Accenture7,000 (average)
Novartis11,000 (average)
Apple Computer.Inc5,000 (average)

MBA in Singapore without Work Experience

Generally, universities and B-Schools in Singapore require a minimum of two years’ experience for pursuing MBA. However, this may not always be the case. You need to have a really impressive and convincing academic record along with a deftly written essay highlighting your arguments as to how advantageous a fresher like you can be for the university. Apart from that, some universities in Singapore also provide ‘Early Career’ programs for candidates without experience. 

MBA in Singapore without GMAT

Most of the universities in Singapore do not require scorecards of competitive entrance tests such as GMAT, GRE, or other equivalent examsAdmission to MBA courses in Singapore is based on a candidate’s academic record. The chances of admission to the top universities in Singapore increases manifold if an applicant has an excellent academic record as well as a deftly written essay.

1 Year MBA in Singapore

There are a few universities in Singapore which offer a 12-month MBA as well as Executive MBA programsNanyang Business School offers a 12-month full-time MBA with specialization in general management, banking and finance, human resources, and marketing. The eligibility criteria include a minimum of two-year work experience and a GMAT scorecardSingapore Management University offers a 12-month Executive Management Program to impart leadership skills to executives. It requires a minimum experience of 10 years and a competitive GMAT score.

FAQs

Can you get an MBA without work experience?

You can get an MBA without work experience, there are many colleges and universities which offer courses to students without them. There are programs specially designed to train students for the professional world.

✅ What are the best MBA colleges without work experience in Singapore?

James Cook University, Bangor University, University of Greenwich, University of Sunderland, etc. are some of the colleges which offer  MBA courses without work experience.

✅ What are the entry requirements for Nanyang University MBA courses?

The candidate should hold a bachelor’s degree, GMAT or GRE score should be > 600. IELTS score around 6.5 and a minimum of 2 years of experience.

✅ How to apply to Universities in Singapore?

Mostly Singapore universities have their application forms online, many times you will find that government universities accept forms online whereas private universities accept offline forms.

✅ What is the exact cost of studying in Singapore?

The average tuition fees of the universities in Singapore range from SGD 10,000 to 35,000 for both masters and bachelor students. An MBA program in Singapore will cost around SGD 22,000 to 35,000 in a private university.  Other living expenses are excluded.

✅ What is the duration of various courses in Singapore?

The bachelor’s program is usually 3 to 4 years for private and foreign leading universities. There are also some fast-track courses for 2 or 2.5 years but it is suggested for students to take a long way.

✅ What is the number of Indian students coming to Singapore for study purposes?

There are both UG and PG students seen in Singapore, for a bachelor’s degree, the students mostly apply for NUS and NTU whereas for masters students apply to MDIS, James Cook, etc.

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About the Author

Rachit believes in the power of education and has studied from the top institutes of IIIT Allahabad, IIM Calcutta, and Francois Rabelias in France. He has worked as Software Developer with Microsoft and Adobe. Post his MBA, he worked with the world’s # 1 consulting firm, The Boston Consulting Group across multiple geographies US, South-East Asia and Europe.

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