Study MBA in Singapore: Perks, Fees, Scholarships & More

The popularity that the city-state of Singapore enjoys for higher education and employment is unparalleled. The world-class national and international Universities, affordable cost of education, and practical skill-oriented teaching methods attract thousands of international students each year. Many international students prefer Master’s degrees in Singapore, given that the country offers several intensive 1-year Master’s courses. Pursuing an MBA in Singapore is particularly popular, being sought after for the globally recognized qualifications and strong industry involvement during the courses.

As one of the 4 Asian Tiger economies, Singapore also has exciting career prospects for students with a business background. To shed more light, this article will cover everything that students need to know to ensure that their plan for an MBA in Singapore goes off without a hitch.

Perks of Studying MBA in Singapore

Pursuing an MBA in Singapore offers a multitude of benefits. To give aspirants a quick overview, we have highlighted some of the top advantages below.

• Plenty of industry-relevant specializations

• Flexible MBA courses with practical exposure through internships.

• Singapore is among the financial capitals of the world and the Asia hub for business and banking.

• Many generous scholarship opportunities for international students.

• MBA graduates are in demand across sectors with high starting salaries.

• Many tech and finance giant companies have their Asian headquarters in Singapore.

• Easy immigration process and student-friendly visa norms.

• Safe and multicultural environment with a low crime rate.

In addition to all this, Singapore ranks 4th on the 2024 Global Innovation Index for its pathbreaking business practices and high standard of living. Next, we will glance through the topmost Universities and Business Schools for an MBA in Singapore.

Top Institutions to Pursue MBA in Singapore

International students have the freedom to choose the MBA specialization that best fits their needs and career goals. It is important to choose the institutions that offer well-recognized programs, such as:

• National University of Singapore - NUS Business School

• James Cook University Singapore

• PSB Academy

• Singapore Institute of Management Global Education

• Nanyang Business School

• INSEAD Singapore

• East Asia Institute of Management

• Nanyang Institute of Management

• S P Jain School of Global Management

These institutions give students access to top-notch facilities for personal and professional development as they go on with their course. Now, let us see the criteria that students need to fulfill for admission into MBA programs in Singapore.

Eligibility Criteria for MBA in Singapore

Before applying for an MBA in Singapore, students need to check whether they fulfill the requirements of their preferred educational institution. These include general academic and entrance requirements, as mentioned below:

• Academic Qualifications: A Bachelor’s degree with a minimum GPA of 3.0 or 3.5 on a 4-point scale.

• English Proficiency Test Scores: An IELTS band score of at least 6.5 or a TOEFL score between 90 and 110. If the student can show prior education in English, these test scores may not be compulsory.

• Entrance Exam Scores: Most MBA programs in Singapore require a GMAT score above 600 for admission.

Certain MBA programs in Singapore may also require the student to have at least 2 years’ work experience as per the program requirements. Since Singapore has both national Universities and international educational institutions, the eligibility criteria may vary.

Similarly, the cost of education in Singapore is also based on the type of institution and program. Let us read through the upcoming section for further information.

Cost to Study in Singapore for MBA Students

The tuition fees for an MBA in Singapore range from SGD 22,562 to SGD 44,172 per year. Meanwhile, the cost of living in Singapore ranges from SGD 1,400 to SGD 2,000 per month on average. This investment can be alleviated with the amount earned from paid internships and part-time work.

One can also try applying to various scholarships offered by the government and educational institutions in the country. In the next section, let us see which scholarships international students can apply for.

Scholarships for MBA in Singapore

Various educational institutions in Singapore offer many scholarships for international students. These scholarships help students pay for tuition fees, accommodation, and other expenses.

They can be based on Merit or Need, or extraordinary talent or achievement beyond academics. The internal and external scholarships offered by various institutions are mentioned below.

1. National University of Singapore - NUS Business School

• NUS EMBA Scholarship

• NUS MBA Scholarship

• Commonwealth Scholarship

2. James Cook University Singapore

• James Cook University Merit Scholarship (International)

3. Singapore Institute of Management Global Education

• Chairman's Award for Resilience

• Sivadas-HEB Education Fund

4. Nanyang Business School

• Nanyang Women in Business Scholarship

• Nanyang Sustainability Leader Scholarship

• Nanyang Emerging Market Leader Scholarship

• Nanyang Diversity Leader Scholarship

• Nanyang Global Citizen Scholarship

• NTU Innovation Leader Scholarship

• Sellappah Scholarship

• QS Leadership Scholarship

• QS Community Scholarship for MBA Studies

5. East Asia Institute of Management

• EAIM-SAFRA Educational Sponsorship Scheme

6. Nanyang Institute of Management

• NIM Academic Scholarship

7. S P Jain School of Global Management

• S P Jain Merit Scholarship

• S P Jain Diversity Scholarship

• S P Jain President's Scholarship Award for Outstanding Students

Each scholarship mentioned may have different processes and eligibility, so it is recommended that students check each element carefully during their application. In addition to the financial aid and academic opportunities, there are also career opportunities that one can access after graduation with an MBA in Singapore. Read on to learn more about those opportunities.

Career Prospects after MBA in Singapore

The Henley Opportunity Index 2024 ranks Singapore as the 2nd best country in the world to live and work. The country’s booming economy gives young MBA graduates opportunities in fields such as Consultancy, Finance, Banking, Technology, Hospitality, and Marketing.

Students get a good return on investment in such fields, considering that the annual wage ranges from SGD 86,000 to SGD 150,000. They also get exposure to some of the world’s top recruiters, including McKinsey, EY, Bain & Company, PwC, Trafigura Group, Deloitte, etc.

To sum it all up, from start to end, the education system of Singapore ensures valuable business insights and networking connections that span the globe. The top overseas education consultants also recommend it as the perfect study destination for students wanting to elevate their careers. To ensure they get their dream MBA experience in Singapore without a hitch, students can take the guidance of seasoned experts for upcoming intakes.