Singapore is one of just three city-states in the world. It is one of the most prosperous and educated nations in the world that consistently enjoys high average salaries and low unemployment rates. New arrivals in Singapore will be struck by the majesty of Central Singapore, a swarm of towering skyscrapers that stand at the edge of Marina Bay, which in turn is home to a 101-hectare national park. It is a suitably grand introduction to a place that has established itself as an international point of reference for higher education.
Singapore’s six universities are among the best in the world, while globally-recognized foreign schools, such as Yale, INSEAD, and ESSEC have all established campuses in the city-state. There is huge demand to study in Singapore given its reputation, and despite the high cost of studying and living, there can be little doubt that graduates leave an MBA in Singapore with some of the best career prospects anywhere in the world.
Frequently Asked Questions
FAQ
How much will it cost to live and study in Singapore?
Singapore is one of the most expensive places in the world, with minimum monthly rental costs of EUR€600 – though that number could double or triple depending on the location. Minimum monthly expenses are around EUR€820. The cost of an MBA in Singapore ranges from EUR€30,000 to over €100,000 at the most prestigious business school (INSEAD).
Do I need to get a visa to live and study in Singapore?
Yes, you will need a student visa which costs S$60 (US$44). The required documents for a Singaporean student visa include a university acceptance letter, a valid passport, recent passport-sized photos, a birth certificate, travel and health insurance, vaccination certificates, and proof of financial support.
What is the job market like for graduates in Singapore?
Working in Singapore post-graduation is possible through various types of work visa options available to all international students. Since 2010, the national unemployment rate has remained below 5%, one of the lowest rates in the world. Graduates who find work in Singapore will benefit from some of the highest average postgrad salaries in the world, as well as an extremely high graduate employment rate.
Are there a lot of international students in Singapore?
As a world leader in average salaries, quality of life, and higher education, Singapore is a true global hotspot for international students. There are currently around 50,000 international students in Singapore, mainly from other countries in Asia.
Did You Know?
Fun Facts About Singapore
1
Singapore is the fifth-most visited city in the world.
2
Global companies with regional headquarters in Singapore include Bayer, Panasonic, Microsoft, Google, Walt Disney Company, and Procter & Gamble.
3
"Singlish" is a commonly-spoken dialect in Singapore. It is a mix of English and Singaporean slang.
4
Chewing gum is banned in Singapore.
5
Singapore is one of the greenest cities in the world. Almost half of the city's land area is under green cover.
Which Visas & permits do in need in Singapore
If you’re thinking about doing your MBA in Singapore, you will need a student visa, which is an essential document every student needs to spend more than 30 days in the country. The required documents for a Singaporean student visa include a university acceptance letter, a valid passport, recent passport-sized photos, a birth certificate, travel and health insurance, vaccination certificates, and proof of financial support. The cost of a Singaporean student visa is S$60 (US$44). The visa is valid for a maximum period of five years.
As one of the leading financial centers of the world, Singapore is home to around 700 local banks and boasts one of the best and most secure bank systems in the world. The main banks in Singapore are DBS Bank, OCBC Bank, United Overseas Bank, Maybank Singapore, Standard Chartered, Citibank Singapore, HSBC Bank, SBI Singapore, Bank of China, and RHB Bank. To open a bank account, you’ll need to provide documents such as proof of identity, proof of address, and a student visa. Some banks will also ask for a copy of your acceptance letter from your university to prove that you are a student.
What do I need to know about healthcare in Singapore
Singapore has a universal healthcare system, which is widely available and consistently ranked as one of the best healthcare systems in the world. International students in Singapore must take out private health insurance, which will cost around S$401 (US$291) per month. However, some universities in Singapore provide a medical insurance scheme, which is mandatory for all students.
Housing options for students in Singapore
Some universities in Singapore offer a variety of student accommodation options, such as residence halls, houses, residential colleges, and student residences.
More commonly, however, international students in Singapore choose to rent a single room in a shared apartment with other students. You can expect to spend anywhere between S$600 (US$430) and S$1,400 (US$1,000) per month in more upscale areas of the city. Homestays are also available, in which local Singaporean households open up their homes and invite international students to rent out a room. The cost of a homestay ranges from S$500 to $1,000 (US$360-730) per month.
What are the public transport options in Singapore
Singapore offers the world’s best public transport solutions. Singapore’s commuters spend an average of 84 minutes on public transport every day. The best way to get around Singapore is via its Mass Rapid Transit (MRT) subway system, an underground network across the entire city-state. MRT also operates bus routes that can get you anywhere on the island.
Even though public transport fares increased in 2021, there are many ways you can save, including through the use of student discounts. For a university student, a monthly travel pass in Singapore costs around S$90 (for unlimited use of bus and train rides). This is equivalent to around US$60.
How much does a Big Mac cost in Singapore
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. The price of a Big Mac in Singapore is S$5.90 (equivalent to US$4.29, EUR€4.02, and JP¥549). For US$50, you can buy 11 Big Macs.
Singapore is one of the most expensive countries in the world. However, depending on your lifestyle, there are ways to live affordably in Singapore. MoneySmart estimates monthly expenses in three tiers in Singapore. On the low end – if you’re sharing a flat, cooking at home, and minimizing public transport and recreational expenses – you can expect to spend around S$1,200 (US$870) per month. On the mid-range – if you’re sharing a condo unit and spending more on food, transportation, and recreational activities – you should budget S$2,530 (US$1,800) per month. Finally, on the high-end – if you’re renting an entire apartment, eating at nice restaurants, and spending more money on transportation and leisure activities – your monthly expenses will be around S$10,360 (US$7,500).
