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

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

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Is opting for MS in IT abroad over your present job in India the right move? Using our Estimate Earnings Tool, we calculate the risks and returns involved in the investment.

GyanDhan
Salil Singh

Updated on:  06 Sep 2023  | Reviewed By:  amanjain  | 3.07K | 15  min read


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 -  

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!

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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.  

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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:

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

 

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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: 

  • list items 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.
  • list items 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.
  • list items 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.
 

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United States

For the Current Salary of INR 5 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ 1.69 Crore  

89%

₹ 3.07 Crore

51-100

₹ 1.255 Crore

72%

₹ 2.32 Crore

101-250

₹ 1.256 Crore

75%

₹ 2.31 Crore

251-500

₹ 1.18 Crore

79%

  ₹ 2.16 Crore  

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:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ 64.41 Lakhs  

33%

₹ 1.35 Crore

51-100

₹ 20.50 Lakhs

17%

₹ 60.87 Lakhs

101-250

₹ 20.61 Lakhs

17%

₹ 59.97 Lakhs

251-500

₹ 13.04 Lakhs

15%

  ₹ 44.37 Lakhs  

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:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ -38.83 Lakhs  

  Negative  

₹ -34.31 Lakhs

51-100

₹ -82.74 Lakhs

Negative

₹ -1.08 Crore

101-250

₹ -82.63 Lakhs

Negative

₹ -1.09 Crore

251-500

₹ -90.20 Lakhs

Negative

  ₹ -1.25 Crore  

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.

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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.

For a Current Salary of INR 15 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ (-)29.93 Lakhs  

  Negative  

₹ (-)26.63 Lakhs

51-100

₹ (-)30.04 Lakhs

Negative

₹ (-)35.24 Lakhs

101-250

₹ (-)31.61 Lakhs

Negative

₹ (-)38.17 Lakhs

251-500

₹ (-)44.95 Lakhs

Negative

  ₹ (-)60.31 Lakhs  

For a Current Salary of INR 25 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ (-)1.331 Crore  

  Negative  

₹ (-)1.96 Crore

51-100

₹ (-)1.332 Crore

Negative

₹ (-)2.04 Crore

101-250

₹ (-)1.34 Crore

Negative

₹ (-)2.07 Crore

251-500

₹ (-)1.48 Crore

Negative

  ₹ (-)2.30 Crore  

Verdict: If you are earning anywhere between INR 15 Lakhs to INR 25 Lakhs annually, the right alternative is to continue working in India. Irrespective of the college rank, MS in IT in Canada doesn’t make for a financially sound alternative as confirmed by negative NPVs.

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Germany

For the Current Salary of INR 5 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ 97.55 Lakhs  

114%

₹ 1.71 Crore

51-100

₹ 72.65 Lakhs

98%

₹ 1.28 Crore

101-250

₹ 72.26 Lakhs

102%

₹ 1.27 Crore

251-500

₹ 59.87 Lakhs

86%

  ₹ 1.06 Crore  

Verdict: If you’re thinking of doing a Master’s in Information Technology from Germany and are earning only INR 5 Lakhs per year in India - great! All four college rank groups show an exceptionally high rate of return. But, it can be a hefty one-time investment and you might need an education loan to fund it. Check your loan eligibility to see how much loan amount you can fetch from leading lenders like SBI, BoB, and Axis.

For the Current Salary of INR 15 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ (-)7.51 Lakhs  

  Negative  

₹ (-)48,000

51-100

₹ (-)32.41 Lakhs

Negative

₹ (-)43.33 Lakhs

101-250

₹ (-)32.80 Lakhs

Negative

₹ (-)44.53 Lakhs

251-500

₹ (-)45.19 Lakhs

Negative

  ₹ (-)65.00 Lakhs  

For the Current Salary of INR 25 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ (-)1.10 Crore  

  Negative  

₹ (-)1.70 Crore

51-100

₹ (-)1.35 Crore

Negative

₹ (-)2.13 Crore

101-250

₹ (-)1.36 Crore

Negative

₹ (-)2.14 Crore

251-500

₹ (-)1.48 Crore

Negative

  ₹ (-)2.34 Crore  

Verdict: Don’t even dwell on the decision to study MS in IT from Germany if you take home somewhere between INR 15 to INR 25 Lakhs in India annually. The NPVs are negative for all college ranks, which implies you’ll incur a loss in the long run.

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Australia

For the Current Salary of INR 5 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ 69.11 Lakhs  

49%

₹ 1.35 Crore

51-100

₹ 46.17 Lakhs

39%

₹ 94.92 Lakhs

101-250

₹ 46.40 Lakhs

40%

₹ 94.57 Lakhs

251-500

₹ 35.86 Lakhs

33%

  ₹ 76.62 Lakhs  

Verdict: If you’re earning just INR 5 Lakhs in India and are thinking of studying Master of Science in Information Technology from Australia, go ahead. The decision will yield a considerable profit for you.

For the Current Salary of INR 15 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ (-)35.95 Lakhs  

  Negative  

₹ (-)36.71 Lakhs

51-100

₹ (-)58.89 Lakhs

Negative

₹ (-)77.04 Lakh

101-250

₹ (-)58.66 Lakhs

Negative

₹ (-)77.39 Lakhs

251-500

₹ (-)69.20 Lakhs

Negative

  ₹ (-)95.34 Lakhs  

For the Current Salary of INR 25 Lakhs in India:

  Global Rank of Target College   NPV   IRR   Profit

1-50

  ₹ (-)1.39 Crore  

  Negative  

₹ (-)2.06 Crore

51-100

₹ (-)1.62 Crore

Negative

₹ (-)2.46 Crore

101-250

₹ (-)1.61 Crore

Negative

₹ (-)2.47 Crore

251-500

₹ (-)1.72 Crore

Negative

  ₹ (-)2.65 Crore  

Verdict: Drop your plans of doing MS in IT from an Australian university if you get a salary of INR 15 Lakhs to INR 25 Lakhs a year in India. The NPVs are discouraging for all the top 500 colleges.

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M.S. in Information Technology Abroad or Work in India: What to Pick?

If Canada, Germany or Australia are in your plans for M.S. in IT, then it is worth it only if you earn about INR 5 Lakhs in India presently. If your paycheck is INR 15 Lakhs or above, don’t invest in the degree from these countries. If the US is the pick, then it would prove to be the best place to study MS in Information Technology, as long as your salary is INR 15 Lakhs or below. If you earn INR 25 Lakhs in India, you’ll only burn a hole in your pocket by opting for the course in the USA.

If your exact salary doesn’t match with the figures in the article, look for the closest option and then extrapolate. Better yet, use our Estimate Future Earnings Tool to get a clearer picture.

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Please bear in mind that the numbers above are merely a guide. The final decision should always be based on a thorough assessment of all factors.

If you still cannot decide whether investing in MS in IT abroad will be a financially wise decision, you can opt for our FREE admission counselling. Our expert admission counsellors will be happy to help!

If you’re convinced to pursue it, request a call back for financial assistance to fund your dream qualification and skyrocket your career.

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