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MBA in Finance in Singapore – Universities, Fees & Scope

Updated on 01 April, 2024

upGrad Abroad Team

upGrad Abroad Team

upGrad abroad Editorial Team

After gaining an undergraduate degree, pursuing Masters in Business Administration (MBA) can be an excellent choice for those who not only want to specialize in specific business fields but also wish to acquire skills to become successful managers. Apart from the US, UK, Canada, and New Zealand, Singapore is also one of the famous destinations to study for an MBA in Finance. Read this blog to learn about various aspects of pursuing an MBA in Finance in Singapore. 

 

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Why Study MBA in Finance from Singapore?

Singapore, one of the wealthiest countries in the world, offers a multicultural, safe, and welcoming environment for aspirants. Pursuing an MBA in Finance in Singapore is a wise choice, considering the future career prospects and handsome salaries in the field.

Here are some key reasons to study for an MBA in Finance in Singapore: 

  • Singapore is one of the world’s biggest financial and business hubs, offering plentiful employment opportunities for skilled graduates. MBA degrees are highly valued here, especially in finance. 
  • Singapore houses some of the highest-ranked global universities having world-class faculty members offering excellent practical learning opportunities.
  • Build a good industry interface with your Singapore MBA program, venturing into industry training, internships, and networking.

Top Universities in Singapore to study MBA in Finance

Here are some of the best universities in Singapore, as per QS World University Rankings 2023, offering MBA in Finance programs. 

QS WUR 2023University Course duration
11National University of Singapore 17 months
19Nanyang Technological University 12 months
561-570Singapore Management University15 months

Apart from these top-ranked universities, Singapore is also home to campuses of some collaborative institutions and leading universities of the world. Some of them are listed below offering MBA in Finance: 

Universities Course Duration 
London School of Business & Finance12 months
INSEAD Asia Campus10-month
Management Development Institute of Singapore12 months
James Cook University 2 year
East Asia Institute of Management.12-18 months
SP Jain School of Global Management18 months

Eligibility Criteria for MBA in Finance in Singapore

  • Strong academic track record and an undergraduate degree.
  • TOEFL/IELTS/PTE scores.
  • GMAT/GRE scores.
  • At least two to three years of work experience

Students must note that IELTS, TOEFL, or PTE are necessary English language proficiency tests for your MBA in Singapore. To secure admission, the TOEFL score must be at least 100 for the internet-based test, and for IELTS, the overall band score must be at least 7.0.

Documents Needed for MBA in Finance in Singapore

Following documents are required for taking admission to MBA in Finance program in Singapore:

  • Receipt of application fee payment.
  • Student Pass. 
  • Valid Passport.
  • Tuition grant, if any. 
  • Academic transcripts.
  • Proof of funds.
  • Score sheets of standardized tests.
  • Medical reports.
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English Language Proficiency Tests Required for MBA in Finance in Singapore

IELTS, TOEFL, or PTE are vital English language proficiency tests needed for doing your MBA in Singapore. To secure admission, the TOEFL score must be at least 100 for the internet-based test, and for IELTS, the overall band score must be at least 7.0.

Cost of Studying and Living in Singapore

For the overall cost of living, the tuition fee may vary as per the college and university, and the living costs depend on the student’s lifestyle. Here is a list of estimated average costs a student has to incur to pursue an MBA in Finance in Singaopre.

ExpenseAverage Annual Cost
Tuition FeeS$ 15,000 to S$90,000 
On-Campus AccommodationS$2,800- S$5,500
Off-Campus AccommodationS$1,100 – 3,300 
MealsS$2,600 
Personal ExpensesS$2,600 
Transportation within SingaporeS$800 
Average Cost of Books /SuppliesS$400

How to Apply 

You can directly apply through the websites of the respective universities. Submit all your documents online as well. Once the application is processed and selected, you will hear back from the university. Get your letter of acceptance, pay the admission deposit, confirm enrolment, and start working on getting your study visa. 

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Scope of MBA in Finance in Singapore

From Investment Bankers to Financial Analysts, the growth prospects of an MBA professional in Singapore is vast. MBA-degree holders can find jobs in varied positions as per their skills and aptitude. Finance MBAs are highly valued in Singapore, with leading private and corporate entities hiring these graduates in large numbers yearly.

Top Recruiters 

Some of the top recruiters that hire MBA in Finance graduates in Singapore include:

  • Microsoft
  • Deloitte
  • BMW
  • Novartis
  • Apple Computer
  • Deloitte
  • HP Inc
Job ProfilesAverage Annual Salary
Credit Specialist and ManagerS$ 1,32,000 
Accounting ManagerS$ 71,400 
Risk and Insurance ManagerS$1, 88, 400 
Financial AnalystS$ 54000 
Investment BankerS$1,00,000
Corporate ControllerS$105269
Treasurer and Finance OfficerS$1,34,400

Scholarship Options for Aspirants

There are several scholarship options available for students who want to pursue an MBA from Singapore. Some of the scholarship with average scholarship amount are

  • Go Clean Scholarship with funding up to S$4,740 approximately. 
  • The Financial Sumo Educational Scholarship with funding of S$1313.01 
  • BrokerFish International Student Scholarship with funding up to S$1354
  • Central Sector Scheme of National Overseas Scholarship with funding of S$20221.15
  • Global Study Award Scholarship with funding up to S$13453 
  • NUS MBA Study Award Scholarship is awarded to deserving candidates based on their academic and professional background
  • INSEAD Antonio Borges Endowed Scholarship- Up to S$14,808.89 in funding.

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Frequently Asked Questions

How do you study MBA in Singapore?

You can learn about MBA programs in Singapore by applying directly to the universities and sharing all the required documents. You must possess an undergraduate degree with a solid academic record and good scores in GRE/GMAT and TOEFL/IELTS. You should ideally have work experience of two to three years to add more weightage to your application.

Is GMAT required for MBA in Singapore?

Almost all MBA institutes require either GRE or GMAT scores. You should check the eligibility criteria carefully before applying. GMAT scores are necessary for MBA admissions and entry into many other courses, including Masters of Public Administration, Masters of Accountancy, and more.

Is NUS suitable for MBA?

The National University of Singapore NUS is one of the leading choices for MBA programs. It offers advanced and cutting-edge programs backed by top-class faculty members, excellent academic infrastructure and other facilities, and strong industry interfaces courtesy of its close links to leading recruiters in Singapore.

upGrad Abroad Team

upGrad abroad Editorial Team

We are a dedicated team of study-abroad experts, ensuring intensive research and comprehensive information in each of our blogs. With every piece written, we aim at simplifying the overseas education process for all. Our diverse experience as journalists, content writers, editors, content strategists, and marketers helps create the most relevant and authentic blogs for our readers.

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