SOURCE: HDFC Credila – Education Loan
Colleges for MBA in Singapore
There are several QS World Ranking colleges for MBA in Singapore. They provide world-class education, the right exposure, networking, and generous scholarships to deserving candidates. The top colleges for MBA in Singapore are as follows:
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.
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 diversity. Top 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.
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.
Fees for MBA in Singapore
There is no fixed fee structure for MBA in Singapore educational system. Fees for MBA in Singapore vary from university to university and college to college. It can also vary across specialization you may seek. Nonetheless, tuition fees for MBA in Singapore may vary from as low as ₹ 7 lakhs to as high as ₹ 70 lakhs. However, many universities in Singapore offer generous scholarships that depend upon your score in equivalent examinations like GRE, GMAT, TOEFL, etc, or academic performance.
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.
Cost for MBA in Singapore
The majority of expenses in Singapore go to the tuition fee which can be quite a huge amount, particularly for top B-Schools. However, the RoI is quite high in Singapore with the rest of the facilities being quite affordable. The tuition fee may range from SGD 110,227 to SGD 44,940. Moreover, the living expenses for a year may amount to SGD 35,570 of which the majority go into accommodation, transport, and meals. So the average cost for MBA in Singapore roughly translates into SGD 113,154.
- . MBA in Singapore (Cost in ₹): The average tuition fee for MBA in Singapore translates to around ₹ 4,281,615. In addition to this, the living expenses may cost around ₹ 1,962,915. So, the average cost in rupees translates to around ₹6,244,530.
Executive MBA in Singapore
An Executive MBA degree from Singapore is one of the most sought-after Executive programs all over Asia-Pacific. Many 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
The employability of fresh MBA graduates from Singapore is high. With a facilitative governmental career service as well as support from the university, one can easily get a well-paying job within three months of graduation. The average annual salary of MBA graduates is around SGD 78000.
MBA in Singapore for Indian Students
Pursuing MBA in Singapore is increasingly being preferred by Indian students. An added advantage for Indian students is that the basis of admissions into Singaporean universities is their academic records (which are a mix of their co-curricular and extra-curricular activities) rather than the entrance tests. Universities in Singapore provide Indian students with a global experience. Some universities also accept the scores of GMAT, GRE, TOEFL, etc.
- . Cost of MBA in Singapore for Indian Students: The average tuition fee for MBA in Singapore for Indian students translates to around ₹ 43 lakhs. In addition to this, the living expenses may cost around ₹ 19 lakhs. So, the average cost translates to around ₹62 lakhs.
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.
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 earner. Salary offered to MBA graduates in Singapore may vary from SGD 78,000- SGD 109,00.
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 exams. Admission 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 programs. Nanyang 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 scorecard. Singapore 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.
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.
James Cook University, Bangor University, University of Greenwich, University of Sunderland, etc. are some of the colleges which offer MBA courses without work experience.
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.
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.
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.
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.
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.