Get Admission Help
Admission

Is MS in Electrical Engineering Abroad Worth It If You Are Already Earning Well In India

Is MS in Electrical Engineering Abroad Worth It If You Are Already Earning Well In India

On this Page:

Is choosing MS in Electrical Engineering abroad over your current job in India a financially sound move? Using our Estimate Earning Tools, we calculate the risks and returns involved in the investment.

GyanDhan
Yogender Panchal
Updated on:  16 Aug 2024  | Reviewed By:  Aman  | 10.3K | 15  min read

In yet another article in our series, “Is it Worth Studying Abroad if you are Already Earning Well in India?,” we explore the financial worth of doing an MS in Electrical Engineering abroad. If you wish to check the same analyses for the following courses - Mechanical Engineering, Computer Science,  Material Science, Chemical Engineering, Biotechnology, Aerospace please click on the given links.

Sprinkles

What are the Benefits After MS in Electrical Engineering Abroad?

Let’s first take you through the scope of electrical engineering in foreign countries before moving on to the financial worth of higher education abroad. The US Bureau of Labor Statistics projects only a 2% growth (slower than the average) in EE jobs till 2028. The Canadian government data indicates a fair job growth over the next couple of years (till 2020) for electrical engineering professionals. A moderate number of new positions are projected to fill the gap created by retirements. There will be about 1800 job openings annually until 2025. For Germany, the trends suggest that till 2025, an increasing percentage of work-force (25% by 2025) will comprise of high skill level (science, engineering, teaching, etc.) professionals, which is slightly higher than the EU average. The Australian government’s data indicates that there are likely to be 6000 job openings for graduates from this discipline for over 5 years.

 

Schedule a call for admission consultancy

Sprinkles

Is it Financially Worth Doing MS in Electrical Engineering Abroad?

As can be inferred from the aforementioned statistics, the job opportunities after MS in Electrical Engineering abroad and the scope of growth in the discipline is not as promising as they are for the other engineering disciplines. Therefore, in such a case, one needs to meticulously analyze the financial viability of pursuing a foreign education abroad. The best way to ascertain this is to calculate the future estimate earnings after finishing a degree abroad. To make it easier for you, we have provided a country-wise analysis of the returns expected after studying abroad depending upon the current salary that you are drawing in India. It is based on our Estimate Future Earnings Tool. Our tool takes into consideration a couple of assumptions while calculating these earnings which you can take a look at to gain a clearer understanding of these analyses. Also,  this article will be frequently using the following terms. Do give them a quick read to understand the implications these figures bear on your decision to study abroad.

  • list items NPV (Net Present Value): It is the discounted difference between (present values of) cash inflows and outflows over a fixed period of time. The higher the NPV, the better the investment.
  • list items IRR (Internal Rate of Return): It gives the idea of an investment’s rate of return. The higher the IRR, the smarter it is to invest.
  • list items Profit: It is the money that one is expected to save while studying and working abroad. All the figures in the tables below are computed for 10 years from the start of the loan repayment period. It has been assumed that the loan will be repaid in 5 years.

 

We have considered the following countries for our analysis - US, Canada, Germany, and Australia, and for each country, we have taken the top colleges and grouped them into different rank groups to undertake our analysis. Further, we have analyzed the ROI of MS in Electrical Engineering from these colleges as per different salary levels in India.

Sprinkles

Should you do an MS in Electrical Engineering Abroad?

United States

If you are earning ₹ 5 lakhs per annum in India:

1-50

  1.86 Crores  

95%

  3.35 Crores  

51-100

1.66 Crores

90%

3.01 Crores

101-250

1.55 Crores

88%

2.81 Crores

251-500

1.32 Crores

86%

2.4 Crores

Verdict: It is highly recommended that you join MS in Electrical Engineering in a US college of the aforementioned ranks if you are currently earning ₹ 5 lakhs a year working in India. The NPV and profit figures look really great.

 

If you are earning ₹ 15 lakhs per annum in India:  

1-50

  80.9 Lakhs  

  38%  

  1.63 Crores  

51-100

61.3 Lakhs

32%

1.3 Crores

101-250

49.9 Lakhs

29%

1.1 Crores

251-500

26.6 Lakhs

21%

67.1 Lakhs

Verdict: Doing an MS in Electrical Engineering from a US college if you are making ₹ 15 lakhs annually from a job in India would be a good idea. The NPV and profit are positive regardless of the college ranking.

 

If you are earning ₹ 25 lakhs per annum in India:

1-50

  (-) 22.4 Lakhs  

(-) 2%

(-) 6.6 Lakhs

51-100

(-) 42 Lakhs

(-) 15%

(-) 40.3 Lakhs

101-250

(-) 53.4 Lakhs

(-) 76%

(-) 60.6 Lakhs

251-500

(-) 76.7 Lakhs

  Negative  

  (-) 1.03 Crores  

Verdict: It is suggested that you continue with your job in India that is earning you ₹ 25 lakhs a year instead of opting for MS in Electrical Engineering in the US since the NPV is discouragingly negative.

 

Canada

If you are earning ₹ 5 lakhs per annum in India:

1-50

  81.5 Lakhs  

56%

  1.56 Crores  

51-100

98.4 Lakhs

95%

1.76 Crores

101-250

89.1 Lakhs

90%

1.6 Crores

251-500

65.4 Lakhs

70%

1.2 Crores

Verdict: Doing an MS in Electrical Engineering in Canada would prove to be highly beneficial if you are currently earning ₹ 5 lakhs per annum in India. The NPV and profit figures are positive.

 

If you are earning ₹ 15 lakhs per annum in India:

1-50

  (-) 23.6 Lakhs  

(-) 6%

(-) 16 Lakhs

51-100

(-) 6.67 Lakhs

2%

3.9 Lakhs

101-250

(-) 16 Lakhs

(-) 9%

(-) 12 Lakhs

251-500

(-) 39.6 Lakhs

  Negative  

  (-) 51.4 Lakhs  

 

If you are earning ₹ 25 lakhs per annum in India:

1-50

(-) 1.27 Crores

  Negative  

  (-) 1.86 Crores  

51-100

(-) 1.1 Crores

Negative

(-) 1.66 Crores

101-250

(-) 1.19 Crores

Negative

(-) 1.82 Crores

251-500

  (-) 1. 43 Crores  

Negative

(-) 2.21 Crores

Verdict: No! Do not choose to go to Canada for MS in Electrical Engineering if you are already making ₹ 15 lakhs or 25 lakhs per annum from a job in India. The NPV for all variables is awfully negative.

 

Germany

If you are earning a salary of ₹ 5 lakhs per annum in India:

1-50

  1.02 Crores  

118%

1.8 Crores

51-100

92.6 Lakhs

117%

1.62 Crores

101-250

85.3 Lakhs

115%

1.5 Crores

251-500

63.8 Lakhs

90%

1.14 Crores

Verdict: Do not think twice before doing  MS in Electrical Engineering from a German university if you are earning ₹ 5 lakhs a year working in India. The NPV and profit figures suggest that it would prove to be an investment with a high ROI.

 

If you are earning ₹ 15 lakhs per annum in India:

1-50

(-) 2.6 Lakhs

5%

7.76 Lakhs

51-100

  (-) 12.4 Lakhs  

(-) 11%

(-) 9.71 Lakhs

101-250

(-) 19.7 Lakhs

  Negative  

  (-) 22.5 Lakhs  

251-500

(-) 41.2 Lakhs

Negative

(-) 58.3 Lakhs

 

If you are earning ₹ 25 lakhs per annum in India:

1-50

  (-) 1.06 Crores  

  Negative  

  (-) 1.62 Crores  

51-100

(-) 1.16 Crore

Negative

(-) 1.79 Crores

101-250

(-) 1.23 Crores

Negative

(-) 1.92 Crores

251-500

(-) 1.44 Crores

Negative

(-) 2.28 Crores

Verdict: The NPV is awfully negative. There is no point in going to Germany for MS in Electrical Engineering if you are earning ₹ 15 lakhs or 25 lakhs per annum from a job in India.

 

Australia

If you are earning ₹ 5 lakhs per annum in India:

1-50

  79.2 Lakhs  

54%

  1.52 Crores  

51-100

71.7 Lakhs

54%

1.38 Crores

101-250

64.6 Lakhs

51%

1.25 Crores

251-500

44.2 Lakhs

39%

90.6 Lakhs

Verdict: Waste no time if you are earning ₹ 5 lakhs per annum from a job in India and wishing to do MS in Electrical Engineering from Australia. The NPV and profit are positive regardless of college ranking, and your investment will certainly bring good returns.

 

If you are earning ₹ 15 lakhs per annum in India:

1-50

  (-) 25.9 Lakhs  

(-) 8%

  (-) 19.8 Lakhs  

51-100

(-) 33.4 Lakhs

(-) 18%

(-) 34.1 Lakhs

101-250

(-) 40.4 Lakhs

(-) 32%

(-) 46.8 Lakhs

251-500

(-) 60.9 Lakhs

  Negative  

(-) 81.4 Lakhs

 

If you are earning a salary ₹ 25 lakhs per annum in India:

1-50

  (-) 1.29 Crores  

  Negative  

  (-) 1.89 Crores  

51-100

(-) 1.37 Crores

Negative

(-) 2.04 Crores

101-250

(-) 1.44 Crores

Negative

(-) 2.16 Crores

251-500

(-) 1.64 Crores

Negative

(-) 2.51 Crores

Verdict: If you are thinking of going for MS in Electrical Engineering from Australia over a job in India that is earning you ₹ 15 or 25 lakhs annually, then drop your plans now! The NPV is dreadfully negative for colleges of all rankings.

 

Check loan eligibility for study abroad

Sprinkles

Conclusion

There is little doubt that the US is the best place to study MS in Electrical Engineering followed by Germany, Canada, and Australia. However, we advise you to go to the US only if your current salary from a job in India is ₹ 5 lakhs to ₹ 15 lakhs in India.

You can opt to go to Germany, Australia or Canada if you are earning ₹ 5 lakhs a year from a job in India. However, if you are earning in the bracket of 15 lakhs to 25 lakhs, it would prove to be a bad investment of time and money. Most importantly, you should not opt for MS in Electrical Engineering abroad if you are already earning ₹ 25 lakhs annually in India.

Check Your Education Loan Eligibility


Sprinkles

Have More Questions on This Topic?

Ask from a community of 10K+ peers, alumni and experts


%>