Is MS in Information Technology Abroad Worth it if You are Already Earning Well in India?

This post is a continuation of our series “Is it Worth Studying Abroad if you are Already Earning Well in India?” We’ve covered several master’s degrees till now -  

• Engineering Management
• Mechanical Engineering
• Aerospace Engineering
• Electrical Engineering
• Chemical Engineering
• Computer Science
• Material Science
• Biotechnology, and many more.

If one of them is the subject of your choice, swing by to the linked blogs. In case it is MS in IT you wish to study abroad, and you want to know if it’s really worth it if you are already earning well in India, then read on!

Thinking of Doing MS in Information Technology Abroad?

Talking of Scope of IT in Foreign Countries, the employment in the field is predicted to expand by 12% in the decade between 2018 and 2028, adding over 546,000 jobs - much quicker than the average for all occupations. That’s just in the US! 
When you consider other countries like the UK, Australia and Canada, the job opportunities after MS in IT are much more. Therefore, it is very likely that you have been thinking of quitting your current job in India and opting for MS in IT and studying abroad.  Yet, giving up a stable, monthly income and investing Lakhs in further studies is not an easy decision to make.  

Check Your Education Loan Eligibility

Apply Here

Apply Here

Struggling with Your Admissions?

Find a Consultant

Find a Consultant

How to Decide If MS in IT Abroad is Worth It or Not?

Anyone contemplating whether MS in IT abroad is worth it if you are already earning well in India (or not) has to consider factors like:

• How much is the tuition fee?
• What are the living expenses?
• How much will it cost to stay in the country after finishing master’s (rent, basic utilities, car EMI, fuel, health insurance, etc.)?
• What changes will occur in the forex rate?

Calculate Your Education Loan EMI

Check Here

Check Here

As we said, the decision is not straightforward and requires careful calculations. One strategy to determine the benefits after MS in IT engineering abroad is to estimate the future earnings after the degree and comparing it with the earnings if one continued to work in India.
How does one calculate that? Well, the simplest way is to use the Estimate Future Earnings Tool at GyanDhan. This tool considers all the factors (loan is taken, living expenses, expected salary after degree, currency fluctuations, etc.) to compare one’s future earnings with a total investment towards the course. Furthermore, the tool also demonstrates one’s additional savings after course completion. This gives an aspirant a comprehensive view of investment in the course, future earnings, and savings - compared with their earnings and savings in India. 
Saving aspirants all the hard work, we have done the calculations for MS in IT. Let’s find out if MS in Information Technology from a top college in the US, Canada, Germany, or Australia is a better opportunity than continuing to earn a salary in India (or not).
Find all the assumptions and terms used for the analyses here. Do give it a read; the terms that we will use frequently in the article are defined below: 

• NPV: Net Present Value is the discounted difference between the present value of cash inflows and outflows over a fixed period of time. The higher the NPV, the better the investment.
• IRR: Internal Rate of Return is a measure of an investment’s rate of return. The higher the IRR, the smarter it is to invest.
• Profit: It is the money that the students are expected to save while studying and working abroad.

Without further ado, here are the analyses of the feasibility of doing MS in IT abroad based on the salary you draw currently or will draw if you accept a job offer. The colleges are filtered as per rank brackets and countries. Scroll to your country of choice, preferred college and present Indian salary to check if the investment in higher education bears merit or not.
 

United States

For the Current Salary of INR 5 Lakhs in India:

Verdict: Without a second thought, pick MS in Information Technology in the US over your current salary of INR 5 Lakhs per year. Regardless of the college rank, the choice is highly rewarding as proven by extremely high NPV. If you’ll need financial assistance to fund your education abroad, request a call back from our expert loan counsellors who will guide you to the lowest-interest loan schemes.

For the Current Salary of INR 15 Lakhs in India:

Verdict: The positive NPV shows that those with a current annual salary of INR 15 Lakhs would be better off studying master’s in IT from the United States. Studying in the top 50 colleges in the US would be a better investment, but others yield a profit too.

For the Current Salary of INR 25 Lakhs in India:

Verdict: If your yearly compensation is INR 25 Lakhs, stick with your job in India. Not even the top colleges in the US for MS in IT offer any profit. The steeply negative NPV implies you’ll save more by staying in India.

Check Your Education Loan Eligibility

Apply Here

Apply Here

Canada

For a Current Salary of INR 5 Lakhs in India:

Global Rank of Target College	NPV	IRR	Profit
1-50	₹ 75.13 Lakhs	52%	₹ 1.45 Crore
51-100	₹ 75.02 Lakhs	77%	₹ 1.36 Crore
101-250	₹ 73.45 Lakhs	77%	₹ 1.33 Crore
251-500	₹ 60.11 Lakhs	65%	₹ 1.11 Crore

Verdict: A favourable NPV and more-than-decent profit numbers mean it is time you started planning for MS Information Technology in Canada if you are earning INR 5 Lakhs per year in India. As it can be a hefty investment at first, you should check your loan eligibility to know how much loan you can get for the course.