Cost of MBA in Singapore: Fees, Living Expenses & More
Updated on 08 November, 2023
Akansha Semwal
Study Abroad Expert
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Singapore, renowned for innovation and opportunity, is a top spot for MBA seekers. Noteworthy institutions like the National University of Singapore (NUS), Nanyang Technological University (NTU), and Singapore Management University (SMU) offer stellar MBA programs. A slew of top full-time Singapore MBA programs are listed on the QS Global MBA Rankings 2023. This highlights the global recognition of the programs and its top faculty. Moreover, studying in this vibrant East-West hub offers global exposure and cross-cultural learning. This guide reveals the cost of an MBA in Singapore and more.
Table of Contents
Cost of Studying MBA in Singapore
The MBA fees in Singapore vary based on university and specialization, typically ranging from SGD 28,000 to 72,000 for full-time programs. Prestigious institutions like NUS and NTU may have higher fees. Apart from the tuition fees, one needs to account for various other expenses while planning for an MBA in Singapore. Moreover, international students should be aware of visa and work permit fees, as well as potential exchange rate fluctuations, which can affect their overall cost of living in Singapore.
Pre-Departure Expenses for MBA
Pre-departure expenses for pursuing an MBA in Singapore encompass various financial aspects that aspirants should consider before embarking on their educational journey.
| Type of Expenses | Cost |
| Visa Fees | S$30 |
| IELTS Fees | S$272 |
| GRE Fees | S$220 |
| TOEFL Fees | S$278 |
| GMAT Fees | S$377 |
Sources: Official Website
Post-Departure Expenses for MBA
The expenses associated with pursuing an MBA in Singapore upon your arrival encompass living costs, meals, and health insurance. Let's delve into these expenses in the below-mentioned table:
| Type of Expenses | Cost (SGD) |
| Accommodation | 650 – 800 |
| Food | 350 |
| Transport | 150 |
| Personal Expenses | 200 |
Read More: Average Salary in Singapore for Indians
Top MBA Colleges/B-Schools in Singapore With Fees
The below-mentioned table gives the list of top MBA colleges/B-schools in Singapore with their fees:
College Name |
MBA Specialization |
Annual Fees (in SGD) |
National University of Singapore (NUS) |
Analytics and Operations, Consulting, Digital Business, Finance, Innovation and Entrepreneurship, Marketing, Strategy and Organisation | 94,730 |
Singapore Management University (SMU) |
Communications, Entrepreneurship, Finance, Human Capital, Digital Marketing, Service and Operations Analytics | 70,850 |
Nanyang Technological University (NTU) |
Banking & Finance, Strategy & Innovation, Marketing Management, Business Analytics, Sustainability
|
81,750 |
Institut Européen d’Administration des Affaires (INSEAD)in |
Financial Accounting, Organizational Behavior, Financial Markets and Valuation, Prices and Markets | 140,410 |
| Rutgers Business School - Asia Pacific | Executive MBA | 78,000 |
Source: Official Website
Affordable Universities for MBA in Singapore
Some of the affordable universities for a cheap Singapore MBA cost are given in the table below:
Colleges |
Fees (SGD) |
London School of Business and Finance (LSBF) |
20,000 |
James Cook University (JCU) |
40,176 |
Singapore University of Social Sciences (SUSS) |
31,680 |
PSB Academy |
27,864 |
Source: University Website
Related Topic: MBA in Singapore
Cost of Living in Singapore
Managing your finances effectively is essential to avoid monthly financial stress and meet your essential needs. The estimated living expenses can go up to SGD 14,000 per month.
Cost of MBA in Singapore vs. Other Countries
The comparison of the average cost of an MBA in Singapore with other countries can be understood from the table given below:
| Country | Average MBA Cost |
| Singapore | S$28,000–S$72,000 – (₹17,07,035 to 43,89,517) |
| United States | $30,000–$120,000 (₹24,91,725 to 99,66,900) |
| United Kingdom | £15,000 – £20,000 ( ₹15,27,325 to 20,36,434) |
| Australia | $66,800–$67,647 (₹36,04,210 to 36,49,910) |
| Germany | €30,000–€50,000 (₹26,43,300 to 44,05,500) |
Singapore's thriving economy opens doors to a myriad of career possibilities, spanning finance, technology, healthcare, and more. Many multinational corporations have established their Asian headquarters here. While the cost of studying in Singapore may be a significant investment, it's also an investment in a world-class education and a vibrant multicultural experience. So, embrace the challenge, explore your potential, and let your education in Singapore be the stepping stone to a brighter future.
Read more about study in Singapore:
FAQs
Is an MBA in Singapore for Indian students expensive?
It varies from university to university. However, the MBA fees in Singapore for Indian students may cost between ₹17 and ₹44 lakhs per year for a full-time course.
Are there affordable universities for MBAs in Singapore?
Yes, there are affordable universities for MBAs in Singapore. Some of them are:
- London School of Business and Finance (LSBF)
- James Cook University (JCU)
- Singapore University of Social Sciences (SUSS)
- PSB Academy
Are there scholarships for studying for an MBA in Singapore for Indian Students?
Yes, there are many universities offering scholarships for studying MBA in Singapore. Some of them are:
- NTU MBA Scholarships
- INSEAD Antonio Borges Endowed Scholarship
- NUS MBA Local Scholarships
What is the average cost of studying for an MBA in Singapore?
The average cost of an MBA in Singapore is SGD 28,000 to 72,000.
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