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MBA in Singapore

By August 25, 2022No Comments
A Complete Guide To

MBA in Singapore

Chapter 1

Overview

What is an MBA?

 The most popular management degree abbreviated as Masters in Business Administration. It is one of the most sorted degrees for undergraduates planning on working in Accounting, Finance, Marketing, Economics and Business Communication. The total duration of the course varies from 16 months to more than 2 years depending on the method of the course. There are 4 different ways to do an MBA, namely Full time, Part time, Executive and Online. On average a MBA graduate earns 9-12 lakhs per annum as a starting salary after graduating from a high ranking university.

Why Singapore?

 Singapore is one of the leading countries in terms of economic growth and infrastructure. The number of international students moving to Singapore to pursue mba has been on the rise for the past couple of years. 

Language:

The country has a perfect blend of natives and international students and the preferred method of communication is English. Even though the country has over 20 languages, knowing English removes the language barrier. The students are able to move freely around Singapore just with English.

Infrastructure:

The country is rated among the top safest counties in terms of crime and in terms of cleanliness. 

The country is also one of the best student cities in the world because of the happiness level being very high in the country. The standard of living is high and the diversity is also high leading to learning different cultures and ethnicities.

Education:

The education is relatively cheaper when compared to the USA or UK since the duration is shorter by a couple of months depending on the university. The average cost for an MBA in Singapore is around S$55000 – S$60000 which is almost half the price compared to the other countries like USA, UK and Australia.

Visa:

The visa process is also easier since the major work for the visa is done by the university for the students. The hassle of the visa process for Singapore is the easiest since the work is done by the university after the student sends all the required documents to the university.

Accommodation:

The cost of living in Singapore is relatively lower in comparison to the USA or UK. The average rent for an apartment in the student housing ranges from S$750 – S$2000. When the student comes to Singapore to study to have a good student experience the price for the housing is much cheaper as the prices are almost 1.5 times in other countries.

Discrimination:

A sensitive topic since it is prevalent in all parts of the world especially in countries with diverse populations like the USA, UK and Australia. Surprisingly, the country has the lowest rate in terms of discrimination in the world being almost nil. The country has over 800000 international students coming into Singapore for both Undergraduate and Postgraduate studies.

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MBA Requirements:

The following are the requirements for an MBA in Singapore for Indian students:

  • You must have a GPA of 3.3 to 4.0 and above in a bachelor’s degree. In Singapore, having a business-related bachelor’s degree is not required for an MBA but preferred. As a result, students in engineering, medicine, and even science can apply for an MBA.
  • A minimum of 2 to 4 years of professional experience is required, however this varies greatly depending on the business school. 
  • The GMAT, IELTS and TOFEL score must be provided directly to the business school.
  • MBA essays or SOP, as well as recommendation letters. These are required, regardless of the business school; a minimum of 2 letters of recommendation and one essay should be submitted.
Chapter 2

Top Business Schools in Singapore :

University

Duration

Cost of Course

Requirements

Site

National University of Singapore (NUS)

17 months 

S$65000

GMAT/TOFEL/IELTS

NUS Admissions

SMU (Singapore Management University)

12 months for the full-time program and 18 months for the part-time course 

S$61614

GMAT/TOFEL/IELTS

SMU MBA Apply

INSEAD

10 months  

S$132,158

GMAT/TOFEL/IELTS

INSTEAD Official Website

NTU-Nanyang Technological University

12 months for the full-time course with three trimesters. 18 months for the part-time program

S$75000

GMAT/TOFEL/IELTS

NTU Official Website

James Cook University Singapore 

1 year for the full-time courses and 16 months for the part-time programs 

S$37,878

GMAT(Preferred)/TOFEL/IELTS

James Cook Postgraduate Courses

Rutgers Singapore

14.5 months for the Executive MBA program 

S$78000

GMAT/TOFEL/IELTS

Rutgers Singapore Official Website

ESSEC Asia Pacific

12 months 

S$74,141

GMAT(Preferred)/TOFEL/IELTS

ESSEC MBA Pre Application

SP Jain School of Management

16 months

S$45000

GMAT/TOFEL/IELTS

SP Jain Official Website MBA

Nanyang Institute of Management

12 months

S$62000

GMAT(Preferred)/TOFEL/IELTS

NIM Official Website MBA

PSB Academy

16 months

S$34000

GMAT(Preferred)/TOFEL/IELTS

PSB Academy Official Website Masters

About the Universities:

NUS:

The National University of Singapore (NUS) is a national research university in Singapore. Founded in 1905 as the Straits Settlements and Federated Malay States Government Medical School, NUS is the oldest autonomous university in the country. It offers degree programmes in a wide range of disciplines at both the undergraduate and postgraduate levels, including in the sciences, medicine and dentistry, design and environment, law, arts and social sciences, engineering, business, computing, and music. It is ranked among the top 100 MBA Universities in the world at #14 by Financial Times and at #28 by QS.

SMU:

The Singapore Management University (SMU) is a public autonomous university in Singapore. The university is the only city campus in Singapore and among the very few in the world. The campus houses over 10000 students across different fields of study ranging from accountancy, business administration, business analytics, economics, financial services, information systems management, law, and the social sciences. It is ranked #58 by the Financial Times in the world for the year 2021.

INSEAD:

INSEAD is a non profit business school that maintains campuses in Europe, Asia, Middle East and the United States of America. It is a graduate only school with a high focus on the Masters in Business administration, executive MBA (EMBA), Master of Finance, PhD in management, and Master in Management. They have a very diverse student population with the highest of a single nationality being 12%. They also require student to be able to speak at least 2 languages before joining the university.

NTU: 

The Nanyang Technological University (NTU) is a national research university in Singapore. It is the second oldest autonomous university in the country and is considered as one of the most prestigious universities in the world by various international metrics.

NTU is ranked 19th in the world according to the 2023 QS World University Rankings,and has also been ranked 1st globally amongst young universities by the QS World University Rankings since 2015.

James Cook University Singapore:

JCU Singapore was opened in 2003 as part of the university’s strategic intent of “Creating a brighter future for life in the tropics world-wide through graduates and discoveries that make a difference”. The JCU Singapore fully adapts the curriculum from Australia and the degree is given from Australia. It is ranked among the top 300 universities in the word by Academic Ranking of World Universities.

Rutgers University:

Rutgers University Singapore is a subsidiary of the university based in New Jersey, United States. Rutgers offers the highly ranked Executive Master of Business Administration (EMBA) and Master of Science in Supply Chain Management (MS SCM) Programs to talented professionals in Singapore. In addition to the EMBA and MS SCM programs, they offer open enrollment and customized Executive Education programs for both individuals and corporations.

ESSEC Asia Pacific:

ESSEC Business School (French: École Supérieure des Sciences Economiques et Commerciales) is one of the most prestigious and selective grandes écoles based in Paris, with campuses in Singapore and Morocco. It has been ranked consecutively among the top 100 worldwide graduate universities by both Financial times and QS.

SP Jain School of Management:

SP Jain School of Global Management is an Australian business school that provides modern, relevant and practical global business education. With campuses in the dynamic business hubs of Dubai, Mumbai, Singapore and Sydney, SP Jain is renowned for offering multi-city undergraduate and postgraduate programs. For its flagship Global MBA program, the School has been ranked by reputed international publications such as Forbes, Times Higher Education–Wall Street Journal, The Economist and Financial Times.

Nanyang School of Management:

The university founded in the year 2001 is a private institution based in Singapore.The MBA programme in Nanyang School of Management focuses on developing strategic analytical skills as well as business intuition and enquiring and adaptive thinking to meet the ever-changing nature of business, and the global challenges which business leaders are facing. It is ranked among the top 500 in the world for MBA courses.

PSB Academy:

PSB is a private education institution founded in the year 1964. With more than 60 years of experience in the education field the university is able to produce industry ready graduates that are able to join the workforce without any issues. In the year 2018 they were able to compete with the top 3 universities in Singapore in terms of the graduates that were able to get full time positions after graduation.

Chapter 3

Cost of living in Singapore

Total living costs vary from person to person. But on average a person spends anywhere between 2000 – 3000 Singapore dollars on the expenses. The expenses are split between housing, food, transportation, book, stationeries and other expenses like going out with friends, TV/Phone bill and the internet.

Housing :

Housing is one of the major expenses for all the students that are going overseas to study since they will have to rent a house or an apartment during their course of stay at the university. A student spends on average 1500 – 2000 Singapore dollars on their rent for their apartment or house. The housing rates are a little cheaper starting in the university compared to staying outside. The price also changes depending on the location and the university but on average it is about 500 – 1000 Singapore dollars more staying outside in a house or an apartment. 

Food:

The food being the other major expense coming around 300- 500 Singapore dollars per month. The price stays cheaper if the student can cook their own food and not buy food outside since it is more cost efficient with cooking with their own ingredients that they buy from the grocery stores.

Transportation:

The travel between classes or places in Singapore can also add up at the end of the month to around 100-200 Singapore dollars. 

Books and stationary 

The book cost varies depending on the classes the students take since some classes require the student to buy the textbooks while the other classes do not require them but students spend around 50-100 singapore dollars on books and other stationeries.

Other expenses (TV, phone bill, Internet) – 

This makes up the small amount of about 50 -100 Singapore dollars since some of these things students might not have or use. Some of these things are sometimes complimentary with the apartment that they are staying in or the student is not interested in.

Chapter 4

Scholarships for doing MBA in Singapore

Scholarship

Eligibility

Award

Singapore International Graduate Award

Post-graduation

Full Tuition + Monthly Stipend + Airfare + Settling-in Allowance

Singapore International Pre-Graduate Award

Final-year undergraduates/Graduates

SGD 1500 as monthly stipend

SIA Youth Scholarship

Class 10 passed students

School fees + exam fees + airfare + insurance + monthly stipend + settling-in allowance

GIIS Singapore Global Citizen Scholarship

Class 10 passed students

SGD 90000

INSEAD Syngenta Endowed Scholarship(s) for Emerging Country Leadership

Admission to INSEAD Business School’s full-time MBA

SGD 22500

Science & Technology Undergraduate Scholarship (National University of Singapore)

Class 12 passed students

Full tuition + airfare + accommodation + annual stipend + settling-in allowance

Dr. Goh Keng Swee Scholarship

Class 12 passed students

Full tuition + airfare + hostel fees + annual stipend + settling-in allowance

Amity Global Institute Merit Scholarship

Admission to undergraduate or postgraduate program at Amity Singapore

Tuition Fee waiver up to 35%

President’s Graduate Fellowship (NUS)

PhD Applicants

Tuition Fees + travel allowance + settling-in allowance + monthly stipend

Singapore Millennium Foundation (SMF) Research Grant Programme

PhD Holders

Research Facilities + Funding Grant

Top companies hiring MBA graduates:

The MBA graduates are all in high demand for different positions in the companies. The below are some of the top companies that are hiring MBA graduates for roles like consulting, finance, accounting and marketing. The salary package mentioned is average but the students can get more with good recommendations and grades.

McKinsey & Company:

McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. In recent years it is recognised by Vault as the most prestigious consulting firm employer in the world. In 2018, 800,000 candidates applied for 8,000 jobs.

Avg Starting salary package: Rupees 1.75 lakhs/month

Citibank:

Citibank is the consumer division of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The bank has almost 2500 branches across 19 different countries.

Avg Starting salary package : Rupees 1.25 lakhs/month

Google:

Google LLC is an American multinational technology company that focuses on search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics. It was founded in the year 1998 and employs over 140000 employees.

Avg starting salary package : Rupees 1.5 lakhs/month 

Facebook:

Meta Platforms, Inc., doing business as Meta and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns Facebook, Instagram, and WhatsApp, among other products and services. 

Avg Starting salary package : Rupees 1 lakh/ month

Alibaba:

Alibaba Group Holding Limited, also known as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Alibaba is one of the largest e-commerce and retailers in the world. It has the highest recorded sale in a single day in an offline and online shopping day. 

Avg starting salary package : Rupees 80,000 / month

Temasek:

Temasek Holdings Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a net portfolio of S$403 billion as of 2022, with S$37 billion divested and S$61 billion invested during the year.

Avg starting salary package : Rupees 3 lakhs / month

Apple:

Apple Inc. is an American multinational technology company that specializes in consumer electronics, software and online services headquartered in Cupertino, California, United States. Apple founded in 1976 has been one of the fastest growing companies in terms of technology and has been on the rise with different products from mobile phones to computers and tablets.

Avg starting salary package : Rupees 70000 / month

Deloitte

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is an international professional services network headquartered in London, United Kingdom. It is one of the largest professional services networks by revenue and it is also considered one of the big four accounting firms in the world. The company employs over 350000 employees across the world while providing help with audit, consulting, financial advisory, risk advisory, tax, and legal services

Avg starting salary package : Rupees 1.8 Lakhs / month

HP Inc.

HP Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing solutions. It was formed on November 1, 2015, renamed from the personal computer and printer divisions of the original Hewlett-Packard Company, with that company’s enterprise product and business services divisions becoming Hewlett Packard Enterprise.

Avg starting salary package : Rupees 50000 / month

Part Time Job Opportunities in Singapore :

In Singapore not all international students have the opportunity to do a part time job when studying in the universities. The Education ministry has a few key rules for students who are planning on working during MBA.

Rules

  • The institution should be enrolled with the Ministry of Manpower, Singapore 
  • The student is not an exchange student for one semester but registered with an institution in Singapore.
  • The student should obtain a Student Pass which is a visa for student to work while studying issued by ICA (Immigration and Checkpoints Authority)
  • The student can only work 16 hours per week provided they are enrolled as a full time student with an institution.
  • The student can work unlimited hours during vacation time.

Some Universities approved by Ministry of Manpower:

  •  NUS (National University Singapore)
  • NTU (National Technological University
  • SMU (Singapore Management University)
  • INSEAD, Singapore
  • SIM (Singapore Institution Management)

Best Part time Jobs:

On average a student can earn about S$1000 – S$2000 in a month working part time. Some universities have courses with work attached to help the students adapt to the workforce. While other universities have prerequisites to find internships and work for 6 months before graduation. The opportunities varies from university to university but some of the common workplaces are:

  • Internships
  • University housing Receptionist
  • University Library
  • Teaching Assistant
  • Data entry operator
  • Food Delivery Driver

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