Benefits of Postgraduate Education Abroad
26.03.20
Benefits of Postgraduate Education Abroad

Benefits of Postgraduate Education Abroad

About 13.1% of Americans over 25 years old have a master's degree, which is more than 20 million people. For comparison, 20 years ago in America there were almost 2 times fewer masters.

A source: US Census Bureau

This is due to the fact that by 2022 a fifth of local companies will require a master's degree in hiring. This trend is observed all over the world: growing competitiveness in the labor market, a cardinal change in the requirements for professional skills. The emergence of new professions and functions requires continuous updating and deepening of previously acquired knowledge and skills. In this article we will tell you how the master's degree will help you in the future, and whether investments in postgraduate education will pay off.

The desire of people to graduate is due to a number of reasons. A clear picture on this issue is given by the British Study of the Experience in Obtaining a Higher Education, or PTESThe Postgraduate Taught Experience Survey) The study is conducted annually from 2009 from February to June. In 2019, 71 students from 043 educational institutions participated in PTES. Along with other questions, PTES contains an analysis of the reasons that prompted graduate students to receive a degree.

The main motives for obtaining postgraduate education are related to the expansion of professional opportunities.

Employers appreciate a master’s degree, especially if they have an international degree. Although a diploma does not guarantee employment immediately after graduation, British labor market statistics among university graduates (Graduate Labor Market Statistics) came to an important conclusion. Masters are more likely to occupy a high position in the desired company, as they possess key skills and knowledge that are not acquired in undergraduate programs. In 2018, 71.6% of young masters under 30 years of age got a highly qualified job, while among young bachelors there were only 57% of them. Students who have received additional master's education abroad are distinguished by developed critical thinking, cross-cultural communication skills, professional knowledge of a foreign language (English) and an innovative approach to work thanks to an interactive format and a project-based approach to training.

Among the respondents, 24% noted that master's education is necessary to meet the requirements of the desired position. For some professions, for example, in the field of healthcare or jurisprudence, a master's degree is required when applying for a job. Even in other professions, it is necessary to constantly acquire new skills and develop existing ones to match changes in the professional industry. During the competitive selection for an HR specialist, a master’s diploma can be a decisive advantage for hiring other things being equal with other applicants.

If you already work in the industry that interests you, a master's degree will allow you to gain practical experience, borrow good practices and update a set of flexible skills. The active use of design work within the framework of the course, including at enterprises and the solution of real cases, have become an indispensable standard in the organization of training on master's programs. In addition to directly fixing the theory in practice, this approach contributes to the development of flexible skills. These include teamwork, intercultural communication, teamwork, project management and many others. Many companies, realizing the value of obtaining such an education, provide financially motivated students with financial support in tuition fees in the form of sponsorship. These include financial companies Grupo Santander, Microsoft, Toyota Motor and others.

Considering the value of obtaining an additional master's degree, the question arises: how to pay for graduate studies if there is no sponsor, and how justified are the investments in additional education?

Postgraduate educational programs depend on the country, the type of university (private or public) and university ranking. Foreign students pay more tuition for local students, but scholarship programs and grants also exist for the most motivated students. This type of financing can cover up to 100% of the cost of training and accommodation. Consider the average cost of a master's program for foreign students per year of study in several countries (Source: FindAMasters.Com и TopUniversities.Com):

  • Australia - 23 USD
  • Great Britain - 24 000 USD
  • Germany - from 1 000 to 37 000 USD
  • Canada - 14 USD
  • USA - 35 000 USD

In addition to tuition fees, the additional costs of a prospective graduate student include language tests, student visa fees, travel expenses, living expenses, and the purchase of study books. Obviously, you want to know how soon your investment will pay off. To do this, we turn to the data on the average wage for candidates with a master's degree. Consider the United States and Canada as two popular destinations for post-graduate immigration.

USA

This country has no equal in the quality of higher education. In America, 70% of universities from the list of the top 25 best universities in the world are located. The most popular areas of study for international students, according to the Institute of International Education (Institute of International Education) are Business and Management, Engineering and Mathematics and Computer Science. The so-called STEM degrees (Science, Technology, Engineering, Mathematics). By the way, international graduates of STEM programs receive permission for three years of work in the specialty (OPT) without the need to obtain a work visa, while all other students are only one.

National Association of Colleges and Employers (National Association of Colleges and Employers) provides data on expected salaries in leading educational areas:

  • Computer Science - USD 79
  • Mathematics and Computing - USD 79 717
  • Engineering - USD 77 29
  • Business - USD 75 197

On average, wages in such areas fell by 1.5% compared to 2019. Refer to the data of the statistical offices of countries to always be aware of the latest changes in the labor market.

Canada

There are approximately 250 universities in Canada, most of which are state-owned. The list of the best universities in the world includes 26 universities. According to Statistics Canada (Statistics Canada) Among the popular master's programs for international students, Business, Management and Administration, Architecture, Engineering and related fields, Humanities. According to company data PayscaleThe expected salary level is as follows:

  • Human Resources - CAD 52
  • Marketers - CAD 58
  • Architect / Designer - CAD 44 000-62 000
  • Mechanics - CAD 57 000

Given the different living standards in the US and Canada, a master's degree will pay for itself after about six months of work. That is, in two years of work you can earn three, or even four times more than you invested.

But do not think that a master's degree will automatically open before you the possibilities of the labor market. To be sure that the completed higher education suits you and is worth the effort and money to be invested, you must:

  • Be passionate about what you are learning;
  • View announcements of vacancies of interest right now, since in addition to the master's degree, you may need certificates of specialized courses or accreditation;
  • Study all the possible requirements of a future profession in the chosen country of study and the country where you plan to find a job. Make sure that a master’s degree will help you achieve your career goals;
  • Think about how valuable and new the knowledge of the master's program will be, whether it will help you move up the career ladder and get a promotion;
  • Always contact your employer, professional organization, or employer for more information.

Regularly study the labor market of the industry and country of interest, monitor the requirements of employers and changes in this area. Thus, you will have a clear picture of the necessary knowledge and skills that will allow you to choose the most suitable master's program. Get started now: contact our consultants to learn about scholarship programs for undergraduates and what career opportunities you will have with a Master of Arts, Science, Business Administration, Health and others.

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