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

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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.  

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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:

• 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?

 

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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: 

• 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.
 

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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.

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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