So many parents can afford to send their kids abroad today, it is not funny! And most people would have had aspirations to study in Harvard, Wharton,….the Ivy League.

Today they can sign cheques of US $ 150,000 without batting an eyelid when their kid says ‘dad I want to study abroad’…

In the 1960s, 70s, 80s – it could have been a good decision to go abroad to study, but is it still a good decision?

Well most kids I know have COME BACK FROM UK without being able to find a job. Fair enough! These economies cannot create enough jobs for their own residents, there is no way how they can help you. Far from it.

Yes Oxford, London School of Economics and Cambridge are great brands….but a little lower you do not find great quality. So what do you do?

Similarly in the US – unemployment and underemployment are big worries….read on

http://finance.yahoo.com/news/Unemployed-face-tough-apf-2863640197.html?x=0&sec=topStories&pos=main&asset&ccode

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  1. Isn’t one of the reasons for getting a higher edu abroad the exposure to a different environment ?

    Not that one cannot get a “different environment” here … but the other reason would be a network of peers too ( as far as MBA is concerned … this is my point of view ! ).

  2. Subra, most of the education is (also) done for marriage market (especially from non-ivy league). An MBA from USA or UK gets BIG dowry and an instant move to the top-list of consideration for a marriage proposal (over a typical MBA & doing well in India). If one has a Job in US or UK, it still gets an instant recognition, over somebody who is doing/has better potential in India.

    How many Girls and/or Girl’s parents are willing to marry a simple Graduate? Eventhough he/she may have a decent job/business and doing fairly well for himself.

  3. if one is going to a mickey mouse university or to study liberal arts -forget about it.now if your child is good enough to get into an MIT or stanford or any of the big universities in really useful technical fields,he should by all means go.there is no meaning in stultifying in india with such world class brains.
    for the rest of us,it is not worth the ROI

  4. I am living in London for the last 7 mths. Recently the uni’s here hiked fees to max permissible to £9,000 p.a., as government cannot subsidise anymore. Add to that, it turns out that the gap in wages between graduates and drop outs has been narrowing over the years. What this translates into, in the young minds, is that there’s no point in going to uni, best is to start working after A levels, and work your way up. In a few years, one would have good while the graduates will price themselves out of the market due to their debt burden!!!

    Agree with Pravin – if it is something vastly better than what you can get here in India, go for it.

  5. Good point,

    I have seen so many students working in restaurants and asds tesco’s even after completing their courses in UK. The fact is Universities have to subsidise national students and their most profits are from overseas students.

    So now you understand how UK uni’s have been targetting overseas market. Its a huge business model. And i the economic downturn mainstream political decisions are more nationalistic, meaning restrictions on student visas after completing the studies etc.

    There are hundreds of universities in UK but not all are Ivy League but a dreamer in India overlooks these simple facts and gets drowned in the system.

    But obvious there are certain courses which are simply not available in India and such studies are exception.

    When you dream some better thing, you tend to obscure the negative things, as its your own dream!

    regards.

  6. Subra, not sure if you have lived in London for 2-3 years. The system is definitely great. Yes it is very costly but you can do many things. You can get ideas and work on it. People will listen to you and guide you. Our system is heavily skewed. There are little things that matter even getting a birth certificate without any hassles and one needs to experience it what management is all about. Look at Indian universities another 10-15 years what kind of teachers/professors we have? Sit at one class in LSE and you will see the difference. It may not always translate to money but there are things beyond money these institutes gives you. Yes there is a big racket of underclass universities which attracts Indian/Paki students but that’s out fault.

  7. Chaitanya’s argument is brilliant. It is like saying I do not know why people invest in ppf, nsc, etc. If you invest in Wipro you would have got 57% cagr.

    How many students go to UK to meet their parents’ view of Cam and Ox? One LSE vs. avg Indian class? LOL. Take a super bright student, put him through a rigorous test, then when he is selected compare him to the avg is ridiculous misuse of statistics. A LSE class vs top 25 Chartered Accountants (rank holders) vs IIM A class v IIT class…hey that is comparison.

    Like a friends son told his proud professor at Carnegie Mellon…’I choose C M because I could not get admission in IIT’ LOL

  8. Going to US for higher education in the top 25 schools (whether engineering or Management) is what can be qualified as higher education abroad. Higher studies in UK, Australia etc have no meaning. Generally, people who are unable to get an admission in Indian Universities for masters degree and have no hope of US, land up in Australia and UK. There are several University enrollment melas conducted by Australian and UK universities in India; where a BCom pass can get a spot admission with no GMAT or GRE score. Just with his/her UG degree from a 3rd rate college in India and willingness to pay tuiton fees alone will get an admission. I know several people who have returned after their ‘phoren’ degree working for Rs 15,000 per month in call centers in the night. Companies just do not even consider these degrees that have been practically ‘bought’. Check with any HR manager.

  9. Subra,

    why you are so ani-USA ? I would request you to spend at least couple of days or months in US before putting such article.
    See the quality of life, value of human life, mannerism and disipline that people have there.

    india lacks it by huge huge margin.
    We indians are very good at criticizing people in other country but there is a BIG NEED that we introspect within us first.

    and you are adding a fuel to such thing

    subra, please understand that…

    you may ignore my comment but facts are facts…

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