IEE Overseas takes you through the pros and cons

Studying abroad comes with many additional difficulties and challenges that those studying in India won’t have to face. On top of these issues, students studying abroad generally pay a much higher cost to receive their education. Considering this, many Indian students have a difficult time deciding whether or not an overseas diploma is actually worth all the trouble. We’ll explore this in greater depth by comparing and contrasting the advantages and disadvantages of pursing your degree abroad versus at home

Tuition and Living Costs

The price of tuition in most popular study abroad locations will surely cost more than what it would cost for you to pursue your studies in India. The cost of living, such as housing, food, clothes, entertainment and other expenses is generally much higher in most study abroad locations. In fact, India was rated the second cheapest place in the world to live by several surveys. Publications analyzed the cost of rent, groceries and goods and services in 112 different countries, and concluded that just behind South Africa at number one, India is the world’s second most affordable place to call home. So when it comes to costs, India is clearly going to be the most price efficient option. Many countries in Europe, as well as Canada, have fairly reasonable tuition costs. One great method of cutting costs overseas is through scholarships. Most countries offer some sort of scholarship for international students, which can help to greatly alleviate, or at times fully cover, your tuition costs. Some countries offer part-time job options for international students. This helps in reducing the cost of living through your earnings. This gap between Indian education and overseas education actually becomes smaller through these means.

Job Options

If your goal after graduation is to work overseas, then it’s probably a good idea to look into studying abroad. While it’s possible to attain a work permit with a degree from India, the chances of securing that lucrative job that you have always craved for would be much less. The odds of you being successful are greatly enhanced if you received your degree from the country in which you are trying to work. Many countries such as Canada, have programs specifically designed to allow those that have earned a degree within their borders to get a work permit fairly easily. Some of these countries even offer the chance to apply for permanent residency upon graduation. There are many advantages to working overseas including exposure to an overseas culture, having access to a cosmopolitan style of living and having a chance to go on holiday while you work. Having a foreign degree from a prestigious university can also widen your job options at home. While you should have no problem finding a job within India with an Indian degree, having a degree from a reputable overseas university can help to give you a competitive edge in the local job market.

Difference in Salary

Your annual salary may also vary depending on where you study. A degree from a prestigious foreign university such as Harvard or Oxford can greatly increase your value on the job market both in India and overseas. This salary increase is even more substantial if the position you acquire resides somewhere like Australia or the United States. For example, an MBA graduate from IIMs in India can expect to make anywhere from 15 to 30 lakh annually, while someone who graduated from Harvard Business School can make upwards of 80 lakh per year while working in the United States. Even if your grades don’t get you into the Top Business schools, getting into a decently ranked University and then securing a job overseas will help tremendously in help in alleviating your financial position.

A Global Mindset

By studying abroad, you will achieve a global mindset. In today’s global marketplace, understanding people from a variety of cultures and backgrounds is more important than ever. Any student who studies abroad will be immersed in a vastly different culture, and will learn how to navigate a different land while interacting with other students from a variety of different countries. This can help to instill a greater understanding of how to cooperate and work harmoniously with people from other countries and cultures. The decision to stay in India or to leave home to pursue your education abroad is not an easy one to make. There are many great advantages to both decisions, and both have their own set of pitfalls, so it’s best to figure out what is most important to you and choose accordingly.