Singapore’s MBA enrollees drop by 14% in 2023 – Singapore News

SINGAPORE: The number of enrollees for a Master’s degree in Business Administration went down by 14 per cent last year, according to a report in Singapore Business Review on Monday (April 1).

An MBA is considered a key component in advancing one’s business career. The report noted the decrease in MBA enrollees despite “adaptation to post-pandemic shifts and the elevated value” of such degrees.

From 3,501 enrollees under 11 MBA providers in 2022, only 3,009 students enrolled last year under 10 MBA providers, a difference of 14.05 per cent.

SBR reported that INSEAD (Institut Européen d’Administration des Affaires), which operates graduate business schools in several countries around the globe, has the highest number of MBA students (843), followed by Amity Global Institute (389), PSB Academy (358), NTU-Nanyang Business School (280), National University of Singapore (NUS) (202), Aventis Graduate School (200), Kaplan Higher Education (195), Singapore Management University (SMU) (110), and S P Jain School of Global Management-Singapore (85).

Interestingly, 35 per cent of INSEAD’s MBA students are female, the average age of enrollees is 29, and they have worked for about 5.8 years.

There is a higher demand for MBA degrees at present because of changes in the business landscape, SBR added.

The report quoted Professor Jochen Wirtz, vice dean of MBA Programmes at NUS Business School, saying, “The pandemic reinforced our [belief] that a truly transformative MBA programme cannot be delivered effectively in an online format.

The spontaneous hallway conversations, the messy magic of co-creation in physical spaces, and the subtle guidance fostered by in-person mentorship are all irreplaceable and crucial components of the MBA learning experience.”

Nevertheless, he added that learning online gives students a high degree of flexibility, and NUS has offered a few online and blended classes to complement its in-person classes to maximize students’ learning.

Moving on from COVID-19 times has allowed other learning institutions to broaden their offerings and grow their admissions. At SMU, for example, there are now four intakes per year.

INSEAD added new electives and included sustainability in all its course offerings. Assoc Prof Urs Peyer, the dean of Degree Programmes at INSEAD, is quoted in the report as saying:

“INSEAD renewed its MBA curriculum and leads the way in equipping future business leaders with skills to integrate social and environmental issues into business decisions.”

The report added that an MBA does not come cheap, with programmes starting from tens of thousands of dollars, although scholarship and financial aid options are available.

Full-time MBA programmes begin at US$75,000 at NUS; at INSEAD, they can cost between US$145,000 and US$150,876. /TISG

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