By Diwakar Chandiok
The popularity of studying abroad has increased significantly in recent years, particularly after the disruptions caused by the pandemic. Selecting an appropriate degree programme requires careful consideration of a variety of factors, such as personal interests and professional objectives.
Students have to consider the available choices, financial constraints, cultural differences of their study abroad destination, and employability prospects among many things before making a decision.
Indian students are driving a strong recovery in demand for foreign education and possibilities to live and work abroad are high on their priority list.
According to a survey by INTO University Partnerships, 76% of Indian Gen Z students who are interested in studying abroad intend to work and stay abroad after earning their foreign degree. Additionally, as per the INTO Global Education Agent Survey, the most persistent obstacles to Indian students enrolling in degree programmes abroad are employment options and economic climate.
Students want to ensure that their educational experience helps them achieve both academic and career success and delivers a strong return on investment.
Let’s explore the major factors that play an important role in determining the return on investment for students:
Cost-benefit Analysis
Students must conduct a cost-benefit analysis for studying abroad, focusing on assessing the prospects for the future in terms of both non-financial and financial advantages of a foreign degree. It involves evaluating the overall costs as well as the comparison of potential earnings from working overseas as opposed to in one’s own country. Students should also take into account a risk and benefit analysis that focuses on employment options, economic stability and cultural adjustment.
Strategic Approach to Education
Since academic success is the primary reason for students’ moving abroad, thoroughly reviewing the educational material is an essential prerequisite. Students want to complete their higher education degrees with the knowledge and skills needed for meaningful career opportunities. They are looking for a solid return on their investment in the form of both acamedic and career success.
Professional network
While studying abroad and experiencing a new country and its culture and customs, students also get the opportunity to engage with people from numerous countries and backgrounds. Students must choose a programme that not only enhances their professional prospects but also provides them with broader exposure to networking opportunities. By engaging in networking, students can gain insights into current industry
Additionally, they can access a diverse range of perspectives, expertise, and knowledge from professionals in the sector.
The surge in popularity of studying abroad among Indian students is driven not just by academic pursuits but also by potential global opportunities. The desire for a strong return on investment is motivating students to meticulously evaluate the costs and benefits, focusing on both academic and career success.
As the demand for foreign education continues to rise, the emphasis on building a professional network and strategic educational approaches becomes paramount. By exploring these crucial factors, students can embark on an enriching educational journey that broadens their horizons and positions them for global success.
(Author is Vice President (Recruitment) for South Asia, INTO University Partnerships)