Wondering what will be your salary after MBA in Singapore? Worry not. Through the course of this article, we will tell you about the possible job options and salaries you will get after an MBA.
Singapore, one of the world’s top commercial capitals, is home to over 37,000 international companies across several industries. Being one of the fastest-growing tech markets in the world, the country attracts several thousands of students and job applicants every year. The easy visa policy, availability of scholarships, lucrative salary structure etc., are some of the reasons Singapore has become a popular educational and job destination.
Let’s take a detailed look at the reasons why Singapore is considered a great place to work.
Why is Singapore a Great Place to Work?
If you are planning to pursue an MBA and settle abroad, then Singapore is the best possible choice for you. If you are still wondering what makes this country an impeccable place to start your career or relocate, here are some reasons.
- Salaries are lucrative – Singapore has one of the world’s best prospering economies. With a booming economy, the country is always in search of a highly skilled workforce. Besides, it has a low unemployment rate and a business-friendly environment. Hence, if you are highly skilled in your field of work or study, you can earn lucrative salaries by working in Singapore. It is no surprise that MBA graduates earn plenty once they complete their degree. The average salary in Singapore for an MBA graduate is around 51,000 SGD (~27.9 lakh INR). There are various job positions available for MBA graduates and some of the most popular ones are Business Development Manager, Administration Manager, Strategy Manager and Affiliate Manager. The salary average in Singapore for all of these job positions is around 114,000 SGD per year (according to Payscale).
- Getting the work permit and residence status is easy – Singapore is a small country with a population of only 5 million. Hence, the country is always interested in welcoming the immigrants and labour force. The process of getting a work/residence permit is easy and could take only one day if you already have a job offer. You’ll also get the residence permits along with your work permit for the same period of time. Besides, if you are an entrepreneur who wishes to build and develop your company there, the process of getting a permit is even simpler.
- The tax system is progressive – The tax system in the country is highly progressive. If you obtain a residence permit, your personal tax would range from 0% (for those who earn less than S$ 22.000 per year) to 20% (for those who earn more than S$ 320,000 in a year). However, you are not required to pay taxes for the earnings you gained overseas and brought to the country.
- The adaptation is easy – Singapore is diverse in culture. The country is a mix of Malay, Chinese, British and Indian cultures and around 42% of the total population are foreigners. For this reason, most companies use English as the common working language. Hence, you won’t experience any language barrier at the working place, and the adaptation process would be much simpler.
Average MBA Salary in Singapore
MBA degree is considered as one of the highest-paid postgraduate qualifications around the world. Besides, countries like Singapore are always interested in welcoming skilled talents from other parts of the world. Hence, if your skills match the company’s requirements, you can grab a high-paying job in this country. The salary in Singapore for MBA freshers is up to 51,000 S$ (~27.9 lakhs) and with experience is up to 111000 S$.
The following table will give you an overview of what your salary would be, in accordance with various job positions.
|Profession||Salary (in Singapore Dollars SGD)|
|Business Development Manager||~102,000|
Now you might wonder which MBA degree has the highest salary? Some of the specializations that will ensure a higher pay after your graduation includes Business Analytics, Information Technology, Real Estate, Entrepreneurship, etc.
We hope you found this information on salary after MBA in Singapore useful. If you are an MBA graduate, Singapore is one of the best places to work, as it has a developed commerce-oriented market economy and offers numerous job opportunities with high salary packages. Your salary after an MBA in Singapore could be approximately 51,000 S$ (~27.9 lakhs).
Having said that, before taking a decision, refer to the above information, check if your job profile has a growth opportunity, and decide accordingly.
- Which MBA specialization has the highest salary?
Any MBA specialization you graduate in, rest assured you will earn well, however, Business Analytics is the specialization which assures the highest salary.
- Can you work in Singapore after an MBA degree?
Yes, there are many job opportunities available in Singapore after you complete your MBA degree. There are booming employment options across different fields that are available for all MBA graduates. There is also a lucrative job market for MBA professionals, which means you are likely to find a job with high compensation as well.
- Is it worthwhile doing your MBA in Singapore?
Yes, MBA graduates from Singapore earn the highest salaries in the country in comparison to national averages. The GDP of Singapore is one of the highest globally and hence, the salary offered to MBA graduates are generally in 5 or 6 figures.