Right time to search for MBA abroad destinations has arrived and the MBA abroad aspirants while finalizing their search may not afford skipping Singapore which has more USPs than other countries and houses world’s top rated MBA colleges and Universities.
Singapore has several competitive advantages that position it well as a global education hub. These include a strategic geographical location, reputation for educational excellence, a vibrant business hub and a safe and cosmopolitan environment.
Over 80,000 international students including MBA abroad aspirants from almost 120 countries visit Singapore for their studies, creating a unique multicultural experience. Singapore has been ranked as one of the Best Student Cities due to its safe environment, affordability and the superiority of education. A diverse and young country, Singapore has many religions, languages and cultures. Host to highly ranked business schools like NUS and Nanyang which feature on top at the university league tables, Singapore has become the most preferred destination for MBA abroad aspirants especially from India. Not only do the B schools in Singapore offer quality education but they open doors to a global arena of opportunities.
Singapore has become and is still striving forward on its growth path of all round development to remain a better and preferred destination bet for MBA abroad aspirants especially for Indian students aspiring to pursue MBA from abroad.
Perfect Blend of East and West
B-schools in Singapore offer management education with an Asian as well as a global perspective that opens up plenty of opportunities. Graduates get in-depth insight of the Asian economy as well as the western market and tradition. With such a global learning experience students can gain the best and current knowledge from across the globe.
English: The mode of communication
Singapore has over 20 different languages. However, English is the language of instruction in the B-schools and also the mode of communication in day-to-day life. This makes the county a largely accessible market. The students joining MBA abroad aspirants’ community can go on very well without knowing one of the local languages which makes life very easy.
Global and Multicultural Exposure
Singapore is known to offer a rich multicultural atmosphere with more than 80,000 international students from more than 120 countries. In NUS alone, 91% of the Full Time MBA students comprise international candidates pursuing their MBA abroad dream. Networking and communicating with your peers who come from various backgrounds and diverse nationalities is a major tool for polishing the personality of a candidate. Exchange programs, international study trips which are also a part of the Singapore MBA curricula add another value to the MBA programs.
Best Student City
Singapore is one of the world’s Best Student Cities, according to QS Best Student Cities 2015. Singapore is also one of the world’s safest countries. The low crime rate, high standard of living, diverse student community and being voted as one of the happiest cities in the world create a perfect environment for MBA abroad aspirants.
Great Career Prospects
It is mandatory for MBA abroad aspirants to stay and work in Singapore for 3 years upon completion of the graduation as per policies of government funded institutions. This means that you will have an opportunity to work in Singapore immediately after completing the MBA. Job opportunities in Singapore are high for foreign students compared to other Asian countries and employers in Singapore are always looking for international candidates to globalize the work force.
Affordability and Accessibility
The cost of education and living is comparatively lower in Singapore for aspirants planning to make their MBA abroad dream come true as compared to other MBA destinations like UK and USA. Cost of education will vary as per institution; the program fees ranges from SGD $55000-$60000 (approximately Rs. 25 Lakhs to Rs.30 Lakhs). The MBA programs are also shorter in Singapore and will last around 10-17 months. International students gain deeper insights, global and intercultural exposure and a work permit after doing MBA in Singapore at almost half the price. Another important factor is that Singapore is easily accessible from India, students can avail cheap flight tickets and the travel time is only about 5 hours. This is definitely a value for money and a good bargain for Indian MBA abroad aspirants.
Easy Visa Process
Unlike other foreign countries, the visa application to Singapore is easier. The application is linked to the university and major portion of the application process is done by the university on behalf of the students.
Life in Singapore
Singapore is an intriguing blend of Western modernity and Asian culture. For first-timers, it’s an excellent way to get introduced to living in Asia. Singapore offers the sights of gleaming skyscrapers, Chinese shop houses, Malay mosques, Hindu temples, and endless chains of air conditioned shopping malls. Singapore the ‘Garden City’ is safe, clean, and green. The 2012 Quality of Living Survey by Mercer Human Resource Consulting revealed that Singapore ranked #1 in Asia for offering the best quality of life. Singapore also emerged as the ‘Happiest country in Asia’ in a study reported by ABC News.
The official language in Singapore is English, although Mandarin, Malay and Tamil are widely spoken. Some important points to remember before moving to Singapore are:
No discrimination
Singaporeans are honest, highly disciplined and extremely hard-working. There is respect for seniority, authority and social norms. Singapore’s society is cosmopolitan due to the influx of foreigners in recent times. Along with it comes openness towards people and respect for all. People are amiable and courteous to each other. Racism is taken seriously in the country–there is a strong racial and religious harmony in Singapore. Singapore’s lifestyle is multicultural with ethnic communities Chinese, Malays and Indians maintaining their unique lifestyle and living harmoniously.
Great Family Values
MBA in Singapore, family is the most important unit and despite materialistic goals, the family and community always take precedence. This in turn helps build a content and happy society. Family is a basic unit in the Singaporean Society.
Highest level of Health and Sanitation
One of the cleanliest cities, Singapore is renowned for its highest levels of health care infrastructures, health-care industry, doctors and specialists, and nutrition. Singapore promotes a clean and green environment. There are strict laws against littering. MBA abroad aspirants will find that cleanliness and hygiene are imbibed in its system, with fines for even failing to flush a toilet after use. It encourages a healthy lifestyle and diet and people are engaged in a lot of physical activities.
Recreation
Dining and shopping are the two most popular activities in Singapore. Singapore is one of the greatest street food cities in the world. It could prove to be the heaven for MBA abroad aspirants as there is a strong food culture which can be seen in Singapore and there is no better place for foodies than this vibrant place. Movies, art festivals, music concerts are other options for people living in Singapore. Singapore also has a vibrant night life.
Accommodation
Cost of living in Singapore is quite reasonable especially from an MBA abroad aspirant’s point of view. Salaries are quite high for an MBA graduate and income tax rates are low in Singapore. The economy is growing and prospering with high standard of living amongst the people. Average cost of living in Singapore ranges from SGD$750-SGD$2000 approximately per month. Your cost of living while studying abroad in Singapore will include your expenses on accommodation, food, groceries, books and travel.
Number of options are available when it comes to accommodate an MBA abroad aspirant where he could be living while studying in the Singapore. It solely depends on you how much you wish to spend on accommodation as the same are available from SGD 200 per month to SGD 2000 per month (in terms of INR it would be around Rs.14000 per month to Rs.95000 per month). However an MBA abroad aspirant is supposed to have come for study and not to simply spend the money only. Going by this, a candidate coming to make the MBA abroad dream come true from a top B school can find accommodation within his means.
Accommodation cost may vary as per location and university. Moreover, due to recent foreign influx, housing rates have gone high.
Choose one among top schools in Singapore
Following are the highly ranked and internally accredited B schools in Singapore. MBA abroad aspirant has a good option to choose one according to the preference.
National University of Singapore (NUS)
Globally ranked 31, NUS offers the best of global knowledge with Asian insights focusing on bringing Asian business to the forefront of world economy and prepares students for the same and help global businesses succeed in Asia. NUS boasts of a highly diverse student body of over 37,000 students from a wide variety of backgrounds on campus and a global network of over 177,000 alumni.
Nanyang Technological University-Nanyang Business School (NTU-NBS)
Ranked 40th, Nanyang Business School is the business school of the Nanyang Technological University. Young and research-intensive, Nanyang Technological University (NTU Singapore) is the fastest-rising university in the world’s Top 50 and is also placed 1st amongst the world’s best young universities.
Singapore Management University (SMU)-Lee Kong Chian School of Business
The Lee Kong Chian School of Business of the Singapore Management University is a dynamic Asian business school with over a hundred full-time faculty and more than two thousand five hundred students and is ranked amongst the top schools for its Finance and Accounting programs.
INSEAD-Singapore
INSEAD is one of the world’s leading and largest graduate business schools. . In 2000, INSEAD opened its Asia campus in Singapore. The INSEAD MBA is renowned for its diverse classes and training students to work in a diverse environment. A wide variety of teaching styles and techniques is used to deliver world class education to the participants.
Funding your MBA abroad at Singapore
All local universities NUS, NTU and SMU offer scholarships for their MBA programs. Scholarships are offered on the basis of merit. Deserving all rounded MBA abroad aspirants and domestic candidates are awarded scholarships on admission.
Students can also take private loans from banks in their home country. Students should check with the Universities for locally based loan options.
To know more about admission criteria, how to increase your admission chances to MBA in Singapore post your queries on the forum at MBAUniverse.com.
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