As I entered the final year of my studies at Delhi School of Economics, I had to make a decision – where do I want to pursue my post-grad? I was really confused. I wanted to study international business. There is IIFT in Delhi itself, which offers specialized postgraduate programs in international business. But I also wanted international exposure, before I settled down into one job.
With all the confusion, I went to Mr. Bhatia. Mr. Bhatia runs a consulting firm for small businesses, with offices in New Delhi and Manchester. He is a family friend and himself a graduate of the London School of Economics. Initially, I thought that his opinion will be biased since he himself went for a post-grad outside India. On the contrary, he walked me through a very objective analysis for making the right decision.
I will be starting with my Masters in Financial Economics at Said Business School very soon. So I thought, the world deserves to know the right framework for making the right choice. If you are a student who is stuck between choosing an Indian post-grad versus a foreign post-grad, this step-by-step decision-making process will help you. This is the exact same framework that Mr. Bhatia helped me with:
The first time Mr. Bhatia asked me this question I was a bit taken aback. First of all – it’s a really clichéd question. But it’s a cliché for a reason, as I got to know later. Second – I did not have a clear idea about it. Here’s the thing – whatever you decide about your five-year plan, does not have to be written in concrete. All you have to decide is where do you want to be. The path to that destiny will change as situations come and go.
Mr. Bhatia told me about the reasons that made him choose LSE a decade ago. After having decided on these reasons, I couldn’t have agreed more with his conclusions. Here are the reasons why you should consider a post-graduation outside India:
I was very clear on the fact that I wanted a global career and an association with an educational brand of global repute. So, I decided to pursue a post-grad outside India.
Honestly, after I was done with the first step, I didn’t even want to get into further analysis. But Mr. Bhatia insisted. He said that understanding the costs would give me a more complete picture. This step helped me understand what I was really paying in economic terms to get the global education I wanted.
Apart from the tuition and the living expenses, you will be incurring these costs when you go outside India for your masters:
After I got admitted into Oxford, my dad was concerned about Brexit and potential job opportunities after it. He said the entire banking system was moving out of London. I have been here for over a year and a half now, hardly a few thousand jobs have gone overseas.
People will always overestimate or underestimate the economic climate in a country. Mr. Bhatia connected me to one of his friends in England who helped me understand the ground reality. I would suggest you do the same.
If the program you are going for is delivered by a globally renowned university like Oxford University in England or Harvard in the USA or the University of Toronto in Canada – you will be able to get a job irrespective of the economic volatility. But just to get a clearer picture, go to a job portal like LinkedIn, Monster or Indeed and see the openings in the industry you’re targeting.
If you are able to get yourself in a globally renowned university and can afford the monetary costs – I would strongly recommend you to go for it. My education outside of India has changed the way I think. A global perspective with a multi-cultural exposure will usually outweigh all the costs one might have to incur for it.5