Over the past few years, Singapore has become a hub for international students. In 2006, universities in Singapore had an intake of over 80,000 international students. With each year, the number of international students in all Singapore universities has exceeded by over 20%. Owing to these factors, Singapore has become the ideal study location. Let us look at how pursuing an MBA in Singapore can be beneficial for you.
MBA in Singapore
The education system in Singapore has been ranked the highest consecutively for years by the Organisation for Economic Cooperation and Development. In addition, Singapore’s literacy rate stands at 99%, with the education sector contributing over 3% to the economy of the country. But this is not the only reason to pursue an MBA in Singapore, there are various other reasons to pursue your higher education in Singapore. Some of these reasons are as follows:
Cost-Effective: To begin with, an MBA program in Singapore is far more cost-effective than pursuing an MBA in Europe, the US or the UK.
Funding and Scholarships: Singapore offers various kinds of additional funding and scholarships for international students. In addition, various grants are provided to them by the Singapore government. Hence, if you are struggling with finances, studying in Singapore is worth thinking about.
Partnership Programs: Most Singaporean universities offer an opportunity to study a year or semester in partnered universities all over the world and gain global exposure.
Employability Rate: Singapore is the world’s most competitive economy and has the second-highest GDP, surpassing many other economies. In such an economy, there is a high demand for job creation. This means you have a higher chance of being employed in Singapore after your MBA.
Global Ranking: Last but not the least, most Singaporean universities are globally recognised and rank among the top universities in the world. In addition, most universities have also received international accreditation, some having received multiple accreditations and excellence awards.
Eligibility Criteria for Pursuing an MBA in Singapore
If you want to be eligible to apply for an MBA in Singapore, then here’s the eligibility criteria you should be aware of.
- You must have an excellent or at least a consistent academic record
- You should have a valid and good GMAT or GRE score
- If your first language is not English, you must take the language proficiency test such as the IELTS or TOEFL.
- You must have a minimum of two to four years of work experience
However, it is important to note that the eligibility criteria can vary depending on the university you decide to apply to. While all universities require you to have a GMAT or GRE score and work experience, the minimum GMAT or GRE score and the minimum years of work experience are subject to change.
Tuition and Living Costs
Funding and finances are two major factors that contribute to your choice of university. If you are eligible for an MBA in Singapore, the next step would be to figure out the finances. Before you begin your application process, you should be aware of the tuition fees and the average living cost.
We have listed the average living costs and additional expenses below:
|Food and Groceries||INR 15,000+|
|Study Material||INR 20,000+|
When calculating your finances, you should take into consideration the expenses incurred before you reach Singapore as well. Now, some of these expenses would include university application fees, aeroplane tickets, the cost of the visa, health insurance, and any additional expenses that might occur once you arrive in Singapore.
Top Universities in Singapore
We have listed some of the top universities in Singapore along with the tuition fees and their global ranking. The universities are as follows:
|U University||Global Ranking||Tuition Fees|
|National Singapore University||1 (QS Asian ranking)||INR 40,00,000+|
|INSEAD||232 (QS Global Ranking)||INR 76,00,000+|
|James Cook University||424 (QS Global Ranking)||INR 21,00,000+|
|Singapore Management University||99 (QS Asian ranking)||INR 36,00,00+|
|ESSEC Business School||33 (QS Global Ranking)||INR 42,00,000+|
|Nanyang Business School||3 (QS Asian ranking)||INR 33,00,000+|
As you might notice, the tuition fee for the top universities is quite high. However, investing in an MBA in Singapore might prove to be very beneficial in the long run. Let us explore how it can impact your future in the next section.
Career Opportunities after MBA in Singapore
An MBA in Singapore with funding and a scholarship is still an expensive affair. However, pursuing an MBA is truly an investment in your future. You might wonder, how so? To begin with, the average salary is around INR 30,00,000 to INR 50,00,00 per year. Although this salary range is offered to you within the first year of work. As you gain work experience, your salary is bound to increase. This means that your returns on investment are quite high — you will earn the amount spent on tuition within the first year of your work. Besides, not only are you offered various career opportunities after your MBA in Singapore but these opportunities are also offered by reputable companies. Some of these reputable recruiters include Accenture, Deloitte, Standard Chartered, Mckinsey and Co, Facebook, Google, Novartis, and Citibank.
We hope that you have some idea as to why an MBA in Singapore is going to be really beneficial for you after reading this article. Now all you need to do now is begin your application process if Singapore is where you want to be.