[2024] MBA in Singapore – Top Business Schools, Eligibility, Duration, Tuition Fee, Salary

Singapore has emerged as a global hub for business and finance, attracting individuals from all corners of the world to pursue MBA in Singapore. The city-state’s strategic location, robust economy, and multicultural environment make it an ideal destination for aspiring business leaders.

In this article, we will delve into the top business schools in Singapore, providing detailed information about their rankings, eligibility criteria, tuition fees, average salaries, and MBA program durations. Additionally, we will explore the reasons why Singapore is a compelling choice for MBA aspirants.

Why study MBA in Singapore

MBA aspirants often find Singapore an ideal destination for pursuing their business education due to a combination of factors that contribute to a comprehensive and enriching experience. Here are the top reasons why Singapore is an ideal destination for doing an MBA:

• Global Business Hub: Singapore is a renowned global business hub, hosting a diverse range of industries, multinational corporations, and financial institutions. Studying in such an environment provides students with exposure to real-world business scenarios and networking opportunities that can significantly enhance their understanding of international business practices.
• Strategic Location: Singapore’s strategic location in the heart of Asia provides easy access to a wide range of emerging markets in the region. This geographical advantage allows MBA students to gain insights into different business cultures, market dynamics, and trade opportunities, preparing them for careers with a global perspective.
• World-class business schools: Singapore is home to some of the world’s top business schools, such as the National University of Singapore (NUS) Business School, INSEAD Asia Campus, and Singapore Management University (SMU) Lee Kong Chian School of Business. These schools offer world-class MBA programs that are taught by experienced faculty and equipped with state-of-the-art facilities.
• Diverse and Inclusive Culture: Singapore’s multicultural society welcomes people from all over the world. MBA students have the opportunity to interact with peers from diverse backgrounds, enhancing cross-cultural communication skills and promoting a global mindset, essential attributes for effective business leadership.
• Innovation and Entrepreneurship: The Singaporean government actively promotes innovation and entrepreneurship through various initiatives, grants, and support structures. As an MBA student, you can leverage these resources to develop groundbreaking business ideas or contribute to innovative projects within established organizations.
• Robust Economy: Singapore boasts a resilient and strong economy with a reputation for being a global financial and commercial hub. This economic stability provides a fertile ground for career advancement and business growth.
• Networking Opportunities: The city-state hosts a plethora of industry events, conferences, and seminars that facilitate networking with industry professionals, entrepreneurs, and potential employers. Building a robust network can significantly enhance post-MBA career prospects.
• Quality of Life: Singapore offers a high quality of life with its safety, cleanliness, efficient public transportation, and diverse culinary scene. A comfortable living environment enhances the overall MBA experience.
• Opportunities for Career Growth: Singapore’s dynamic economy and business ecosystem provide numerous opportunities for career advancement and professional growth. Graduates from Singaporean MBA programs often enjoy access to a wide range of industries and job roles.

Top Business Schools in Singapore

Here are the top business schools for an MBA in Singapore:

National University of Singapore (NUS)

Established in 1965, the National University of Singapore (NUS) Business School has evolved into a prestigious institution that consistently ranks among the world’s top business schools. With a rich history of academic excellence, innovative research, and a commitment to nurturing global business leaders, NUS Business School has become a preferred destination for MBA aspirants seeking a transformative educational experience.

History and Legacy

NUS Business School has a storied history dating back to its inception as the Department of Business Administration within NUS. Over the years, it has grown into a leading business school recognized for its impactful research and influential alumni network. The school’s dedication to excellence, ethics, and innovation has solidified its position as a pioneer in business education.

MBA Program

NUS Business School offers a highly sought-after MBA program that equips students with the skills and knowledge needed to excel in today’s dynamic business landscape. The program is designed to foster leadership, critical thinking, and adaptability, preparing graduates to tackle complex global challenges. With a focus on experiential learning, industry engagement, and cross-cultural collaboration, the NUS MBA program provides a holistic and practical education.

Trivia and Achievements

• NUS Business School is consistently ranked among the top business schools globally, and is ranked #23 in FT MBA global rankings in 2023.
• The school is known for its strong emphasis on sustainable business practices and corporate social responsibility, contributing to a more responsible approach to business leadership.
• NUS Business School is part of the National University of Singapore, which is ranked among the top universities in the world.

Eligibility Criteria

Prospective candidates interested in the NUS MBA program must meet certain eligibility criteria, which typically include:

• A recognized bachelor’s degree or equivalent
• Competitive GMAT/GRE scores
• Minimum 2 years of post-bachelors full-time work experience
• Proficiency in English, often demonstrated through TOEFL or IELTS scores. TOEFL Minimum score of 100 and IELTS Minimum score of 7.0

Tuition Fee for Full-Time MBA Program

The tuition fee for the full-time MBA program at NUS Business School is SGD 87,000 plus tax. It’s important to note that tuition fees may vary based on the intake year.

Average Salary of Full-Time MBA Graduates

The NUS MBA program graduates can expect an average salary of SGD 100,000. This figure highlights the program’s efficacy in preparing students for lucrative and impactful careers in various industries.

Other Relevant Information

• The duration of the full-time MBA program at NUS Business School usually spans 17 months.
• The school offers a variety of specializations and elective courses that allow students to tailor their MBA experience to their career goals.
• NUS Business School has a strong emphasis on experiential learning, including international study trips, real-world consulting projects, and industry engagements.

NUS Business School’s legacy of academic excellence, commitment to innovation, and dedication to shaping ethical and globally-minded business leaders make it a standout institution in the world of business education. With its top-ranked MBA program, experienced faculty, and strategic location in Singapore, NUS Business School continues to attract ambitious individuals who aspire to make a meaningful impact in the business world and beyond.

INSEAD Singapore

INSEAD is one of the world’s premier business schools, known for its global outlook and emphasis on international management education. Founded in Fontainebleau, France, in 1957, INSEAD expanded its footprint to Asia with the establishment of its Singapore campus in 2000. The Singapore campus has since become a vital hub for INSEAD’s commitment to fostering cross-cultural understanding, innovation, and excellence in business education.

MBA Program

INSEAD’s MBA program is renowned for its distinctive global curriculum that prepares students to thrive in a complex and interconnected business landscape. The program provides a transformative experience that combines rigorous academics with experiential learning, leadership development, and a diverse student body from around the world. The full-time MBA program is renowned for its accelerated format, typically spanning 10 months, allowing students to return to the workforce quickly with new skills and insights.

Eligibility

INSEAD’s MBA program is highly competitive and seeks individuals with diverse backgrounds and experiences. The eligibility criteria typically include a bachelor’s degree, competitive GMAT or GRE scores, professional work experience, and strong English language proficiency. INSEAD values candidates who exhibit leadership potential, a global perspective, and a desire to contribute positively to their communities and organizations.

Trivia

• INSEAD is one of the few business schools to have campuses on multiple continents – Europe (France), Asia (Singapore), and the Middle East (Abu Dhabi).
• The school’s name, “INSEAD,” originally stood for “Institut Européen d’Administration des Affaires,” but it has since evolved into an independent brand.
• INSEAD is known for its pioneering “The Business School for the World” philosophy, emphasizing the importance of cultural diversity and global collaboration in business education.

Tuition Fee for Full-Time MBA Program

The tuition fee for INSEAD’s full-time MBA program can vary based on intake year and cycle. The tuition fee for the entire program is US $106,000. It’s important to note that tuition fees may change, so prospective students should refer to the official INSEAD website or contact the admissions office for the most up-to-date information.

Average Salary of Full-Time MBA Graduates

INSEAD graduates are highly sought after by employers worldwide due to the school’s reputation for producing talented and globally-minded business leaders. The average salary for INSEAD MBA graduates was around US $114,000, with variations depending on factors such as industry, function, and location.

INSEAD Singapore stands as a testament to the institution’s commitment to fostering excellence in business education across the globe. With a rich history, innovative curriculum, and a vibrant campus in Singapore, INSEAD continues to shape the next generation of global business leaders, preparing them to tackle the challenges and opportunities of our interconnected world. Prospective MBA candidates seeking a transformative educational experience with a global perspective will find INSEAD Singapore to be an exceptional choice. For the latest information on admissions, programs, and tuition, it is recommended to visit the official INSEAD website or get in touch with the admissions team directly.

NTU  Nanyang Business School

Established in 1981, Nanyang Technological University (NTU) has evolved into a global powerhouse of education and research. NTU’s Nanyang Business School (NBS) was founded with the vision to create transformative business leaders who can drive innovation and contribute to the dynamic business landscape. NBS’s commitment to excellence has propelled it to international acclaim, consistently ranking among the top business schools worldwide.

MBA Program

Nanyang Business School offers a prestigious Master of Business Administration (MBA) program that equips students with the skills, knowledge, and insights needed to thrive in the complex global business environment. The program combines academic rigor with practical applications, preparing students for leadership roles across various industries.

Eligibility Criteria

To be eligible for NBS’s MBA program, applicants typically need:

• Bachelor’s Degree 
• Minimum of 2 years of work experience 
• Competitive GMAT or GRE score 
• TOEFL score > 100 IBT or IELTS score > 6.5, if English was not the medium of instruction used at the undergraduate level

Trivia and Unique Features

• NBS is known for its strong emphasis on sustainability and social responsibility in business education, fostering leaders who are not only skilled but also socially conscious.
• The school offers various specializations within the MBA program, allowing students to tailor their education to their career aspirations.
• NBS’s strong ties with the business community facilitate numerous industry partnerships, internships, and networking opportunities for students.

Tuition Fee for Full-Time MBA Program

The tuition fee for NBS’s full-time MBA program is SGD 65,000. The cost covers not only academic instruction but also access to various resources, career services, and networking events.

Average Salary of Full-Time MBA Graduates

Nanyang Business School graduates of the full-time MBA program can expect an average salary of around SGD 90,000 upon graduation. This impressive earning potential reflects the program’s reputation for producing graduates who are well-prepared to excel in the corporate world.

Other Relevant Information

• The Nanyang MBA program typically spans 12 months, providing an intensive and immersive learning experience.
• The curriculum integrates practical learning through case studies, industry projects, and experiential learning opportunities.
• NBS has a strong and active alumni network, with graduates contributing to various industries and sectors globally.
• The school’s state-of-the-art facilities, innovative research centers, and collaborations with industry leaders contribute to its reputation for academic excellence.

In conclusion, Nanyang Technological University’s Nanyang Business School stands as a beacon of excellence in business education, shaping tomorrow’s leaders with a holistic approach that blends academic prowess, practical skills, and ethical considerations. With a rich history, a forward-looking vision, and a commitment to nurturing business leaders who drive positive change, Nanyang Business School remains a top choice for individuals aspiring to excel in the world of business.

Singapore Management University – Lee Kong Chian School of Business

The Singapore Management University (SMU) is renowned for its commitment to excellence in education and research, and at its heart lies the Lee Kong Chian School of Business (LKCSB). With a rich history and a forward-looking approach, LKCSB has established itself as a hub for nurturing innovative and globally-minded business leaders.

History

Founded in 2000, Singapore Management University is a young institution that has rapidly risen to prominence in the realm of business education. The Lee Kong Chian School of Business was established to provide a dynamic and innovative platform for business education, research, and industry engagement.

MBA Program

The MBA program at LKCSB is designed to empower professionals with the skills, knowledge, and networks necessary for leadership roles in today’s complex business environment. With a focus on real-world application, experiential learning, and a holistic approach, the program equips students with a blend of theoretical understanding and practical acumen.

Eligibility

• Applicants for the MBA program at LKCSB typically require:
  
  Minimum post-degree work experience of 2 years.
• Good undergraduate degree from a reputable institution (in any field).
• Strong interpersonal skills and international outlook, and the ability to work in diverse groups.
• Any outstanding professional accomplishments, leadership experience and potential, academic aptitude, and community impact would be an added advantage.
• Intellectual prowess and leadership capabilities, are committed to learn, and who have the personal qualities to contribute to the SMU MBA experience and greater community

Tuition Fee for Full-Time MBA Program

The tuition fee for the full-time MBA program at LKCSB is SGD 70,850 for Jan intake and SGD 76,300 for Aug intake. The relatively affordable tuition fee, especially in comparison to similar programs in other countries, makes LKCSB an attractive option for both local and international students seeking high-quality business education.

Average Salary of Full-Time MBA Graduates

Graduates of LKCSB’s full-time MBA program typically achieve average salariesaround SGD 85,000. This strong earning potential reflects the value of the education provided by LKCSB and the school’s focus on developing graduates who are well-prepared to excel in the business world.

Relevant Information

LKCSB stands out not only for its academic excellence but also for its active engagement with the business community. The school maintains strong industry connections and offers opportunities for students to connect with business leaders through seminars, workshops, and networking events.

Furthermore, the school’s location in the heart of Singapore provides students with access to a dynamic and competitive business landscape. Singapore’s status as a global financial hub and its strategic position in the region make it an ideal environment for aspiring business professionals to gain insights into international business trends and practices.

In conclusion, the Singapore Management University – Lee Kong Chian School of Business stands as a testament to Singapore’s dedication to quality education and its commitment to shaping the future of business leadership. With its innovative programs, accomplished faculty, and strong industry connections, LKCSB continues to empower individuals to become influential leaders in the world of business.

Final Thoughts

So, there you have it – a closer look at some of the top-notch business schools in Singapore that are shaping the business leaders of tomorrow. From the prestigious National University of Singapore’s NUS MBA to the global reach of INSEAD Singapore, the innovative programs at Nanyang Business School, and the holistic education offered by Singapore Management University’s Lee Kong Chian School of Business, Singapore truly is a hub of world-class business education. Whether you’re an aspiring entrepreneur or aiming for corporate leadership, these institutions provide a solid foundation to launch your career and thrive in the dynamic world of business. The choice is yours – seize the opportunity and embark on your journey to success.