As a career counselor, we often get asked this question a lot – both students and especially by parents: Is it really worth investing the time, efforts, and money in a foreign masters? Is studying abroad a good decision?
Many years ago, a bachelor’s degree was sufficient credential to start a good career and rise to an executive position in the industry. Today however the scenario is quite different. While a bachelor’s degree might be good enough to fetch you a job, it may not help you rise in your career beyond a certain point. A few years down the line you might find yourself in a situation what is typically know as ‘hitting the glass ceiling’ – you will feel that your career growth is being hampered due the lack of additional educational qualifications. Master’s education has sort of become a necessity for a good career growth.
While considering pursuing master’s level education, there are many options one can choose from. However broadly classifying, one can choose to opt for either a technical degree (a MS or Mtech program) or a management level degree (a MBA). If you are looking for an MBA degree abroad, it is highly recommended that you gain at least 3+ years of full time post bachelors work experience before you commence your MBA education abroad. MBA or equivalent degrees in India can pursued immediately after your bachelors.
If you interest however lies in the technical stream, one often wonders if he/she should pursue an MS abroad or rather prefer the Mtech degree offered in India. Take the case of one my students Radhika, a final-year engineering student, who opted to pursue her MS from the US immediately after completing her bachelors. Radhika was an average student during college, got an average score in her GRE exam, and went on to pursue her MS program at a university in Chicago, USA. On graduating from the program, she got a job offer from a leading telecommunication company in Chicago offering her a salary of about $75,000 per year.
Radhika never applied to any master’s program in India and she is no exception. Scores of Indian students prefer pursuing MS programs in the USA, rather than doing equivalent programs from India. The question one asks is ‘Why’? Why do most Indian students prefer to apply for the MS in US and not opt for the MTech/ME programs in India? How much sense does it make to apply abroad, especially considering the heavy costs involved? Is a US degree really better? What about the returns on investment and job placements?
Here is what Radhika had to say “I considered the option of doing an MTech from the IIT but found the GATE exam difficult to crack. Also, admissions in India are very competitive. The GRE was much simpler and I didn’t need to be an outstanding performer to secure admission to a US university. With so many options, securing admission abroad was a much more ‘doable’ task,”. When asked about the money she spent on education abroad, she says, “I spent nearly Rs 2 lakh only on my applications, visa fees and air tickets itself. The MS program cost me another nearly rupees 35 lakhs. Fortunately I got a student job after going there and it took care of my living expenses. Plus the internship that I did during the summer helped me cover a small portion of my second year fees. But the money spent on my education was worth it. I am glad I made the right choice. I actually got to learn a lot during my MS”
Radhika makes a valid point. “You don’t have to an outstanding performer to secure admission in a US university”. This is what makes the US degree popular. In addition, the quality of education and the resources available to students are far better than what gets offered at colleges in India. While no doubt there is competition in the US as well, and performance does matter. However even academically average students, manages to seek admission and decent career opportunities – provided they take their MS seriously, study sincere, and are willing to put in hard work.
Not all students who go to the US for higher education plan on settling there. One of my other student Gautam, after completing his MS in computer science from the US, made a conscious decision to return to India. Today, he works as a software engineer with a leading IT company in Bangalore. While Gautam definitely draws a slightly higher salary than his colleagues who just have a bachelor’s degree, but not anything better than his colleagues who did their MTech from India. He says “I don’t think the fact that my MS was from a US university helped me in any special way. I would have got an equally good job had I done my MTech in computer engineering from a reputed university in India.”
Recruiters and HR managers in India share the same opinion as Gautam. Most hiring managers in India do not give added preference to candidates having a foreign MS as compared to those holding an MTech from India. “We consider the candidate’s overall profile. A Master’s degree is always a plus. We treat a foreign MS on par with the Indian ME/ MTech,” says the HR manager of a leading IT firm in India. “Salaries that we offer fresh MTech/ MS graduates are definitely higher than what we offer fresh BTech/BE graduates. Experience counts more than mere additional educational qualifications, and we prefer people who have industry work experience in addition to a master’s degree”, he adds.
My continued discussion with many students and industry personnel over the years has helped put a lot of things in perspective. First, when looked at from a pure Return on Investment (ROI) perspective, the ROI of a foreign degree is much higher for students who prefer to pursue a career abroad. Second, there are many intangible and long terms benefits of foreign education – change in the individual’s outlook and a global exposure being the most prominent ones. Finally, and most importantly, you don’t have to be an outstanding performer to make a career in the US. A systematic approach and willingness to put in sincere efforts can go a long way in shaping your career.
Having said this, there are quite a few reasons why students opt for an MS degree in the US:
- Want to pursue advanced studies in their field of interest
- To change streams and explore alternate career options (this is actually a little difficult to do in India)
- To seek an intellectually stimulating educational experience
- To participate in research
- To venture into the global job market
If your reason for pursuing an MS coincides with one or more of the above reasons, be assured that you are on the right track.
Co-Founder of Academy One