In yet another article under our “Is it Worth Studying Abroad if you are Already Earning well in India?” series, we will be investigating if leaving your present well-paying job or a promising offer to pursue an MS in Aerospace Engineering abroad is a financially viable move. We’ve covered four Master’s degrees till now in this series - Mechanical Engineering, Computer Science, Chemical Engineering and Material Science. You could refer to the given linked blogs if you plan to study any of these subjects, or you could read further if the course you are targeting at is a Master’s in aerospace engineering. Show
Is it Financially Worth Studying MS in Aerospace Engineering Abroad?Aeronautical Engineering is a branch of engineering that helps students develop skills and knowledge needed in designing, manufacturing, and maintenance of aircraft, spacecraft, missiles, drones and weapon systems. Even though it is considered as one of the toughest branches of engineering, a good number of Indian students opt for Masters in Aerospace Engineering - both in India and abroad. In spite of the discipline’s popularity and the bright prospects it offers, zeroing down on the one out of the two options - whether to continue with the present job or pursue MS in Aerospace Engineering abroad - expected to give higher returns is indeed a tough decision. However, one way by which students can decide is by calculating the future estimate earnings of studying abroad and comparing them with the potential earnings while working in India. Best Way to Assess the Financial Worth of Studying Abroad? Calculate Future Estimate Earnings!It is to help you make this decision that we at GyanDhan have come up with an Estimated future earning tool. Based on the student’s current salary, the global ranking of the target college and the chosen field of study, this tool will help students find out the NPV and understand how profitable their decision to pursue an MS from abroad will be. Additionally, the tool takes into account a couple of assumptions and other factors while calculating the returns. For a detailed insight into these assumptions and to know what terms like NPV and IRR (which we will be using throughout this article) mean, Students Can Click Here. Looking For An Abroad Education Loan?Fill the form to get free expert help The United States of AmericaFor a Current Salary of INR 5 Lakhs in India Target College Global Rank NPV IRR Profit 1-50 1.44 Crore 79% 2.6 Crore 51-100 1.36 Crore 77% 2.5 Crore 101-250 1.1 Crore 71% 2.2 Crore 251-500 1.19 Crore 80% 2.1 Crore Verdict - As we see from the above table, the NPV is positive as well as very high for colleges of all rankings in the US. Hence, if you are someone who is currently earning INR 5 lakhs in India and have got admission to an MS in Aerospace Engineering (AE) in the US, you should certainly choose to do it. For a Current Salary of INR 15 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 39 lakhs 24% 93 lakhs 51-100 31 lakhs 21% 78 lakhs 101-250 13 lakhs 14% 48 lakhs 251-500 14 lakhs 15% 46 lakhs Verdict - When we take a look at the table for students earning 15 lakhs in India, we see that the NPV, IRR, and profit are all very high for US colleges of all rankings. Hence Indian students currently earning INR 15 lakhs in India should definitely study MS AE if given a chance. For a Current Salary of INR 25 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 63 lakhs Negative (-) 75 lakhs 51-100 (-) 71 lakhs Negative (-) 90 lakhs 101-250 (-) 89 lakhs Negative (-) 1.2 Crore 251-500 (-) 88 lakhs Negative (-) 1.2 Crore Verdict - The table above clearly shows that it does not make sense for Indian students currently earning INR 25 lakhs in India to pursue a Masters in Aerospace Engineering from any college in the US. The NPV, IRR, and profit for colleges of all ranking are negative. CanadaFor a Current Salary of INR 5 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 70 lakhs 50% 1.3 Crore 51-100 93 lakhs 92% 1.6 Crore 101-250 79 lakhs 82% 1.4 Crore 251-500 71 lakhs 75% 1.3 Crore Verdict - Indian students currently earning INR 5 lakhs in India and thinking of studying an MS in Aerospace Engineering in Canada should definitely go for it. The NPV for colleges of all rankings is positive and high and thus indicates a profitable investment. For a Current Salary of INR 15 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 35 lakhs -16% (-) 35 lakhs 51-100 (-) 11 lakhs -2% (-) 3.9 lakhs 101-250 (-) 25 lakhs Negative (-) 28 lakhs 251-500 (-) 33 lakhs Negative (-) 41 lakhs Verdict - In this table, we again observe that the NPV, IRR, and profit are all negative. This implies that India students who are currently earning INR 15 lakhs in India should not pursue an MS in Aerospace Engineering from any Canadian college as it will not be a profitable decision. However, an interesting point to note in the above table is that for the Canadian colleges falling between the ranks of 51 and 100, the loss is not as drastic as that for the other ranking colleges. This is mainly because the colleges falling under 51-100 rank bracket are mostly public universities wherein the cost of education is significantly on the lower side, and hence, the gap between the expenses and future returns, though running in the negative, is not as wide as that for the other colleges. However, this is not to say that students should consider these colleges; the profits are still on the negative side with diminutive chances of any monetary benefit. For a Current Salary of INR 25 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 1.3 Crore Negative (-) 2 Crore 51-100 (-) 1.1 Crore Negative (-) 1.7 Crore 101-250 (-) 1.2 Crore Negative (-) 1.9 Crore 251-500 (-) 1.3 Crore Negative (-) 2.1 Crore Verdict - NPV, IRR, and Profit for students earning INR 25 lakhs a year are negative. We can thereby again conclude that it is not a good idea for such students to pursue an MS in Aerospace Engineering from Canada. GermanyFor a Current Salary of INR 5 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 92 Lakhs 109% 1.6 Crore 51-100 88 Lakhs 113% 1.5 Crore 101-250 76 Lakhs 106% 1.3 Crore 251-500 69 Lakhs 95% 1.2 Crore Verdict - The table shows a high and positive NPV, IRR and Profit for German colleges of all rankings. This means that if a student is earning INR 5 lakhs a year in India currently and has the option to study MS AE in Germany, he/she should definitely choose to study in Germany. The financial benefits after MS in Aerospace Engineering in Germany will be immense in this case. For a Current Salary of INR 15 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 13 lakhs (-) 10 % (-) 9.8 lakhs 51-100 (-) 16 lakhs Negative (-) 16 lakhs 101-250 (-) 28 lakhs Negative (-) 37 lakhs 251-500 (-) 36 lakhs Negative (-) 49 lakhs Verdict - In this table, we see a negative NPV, IRR, and Profit for German colleges of all rankings. Though the profit is marginally negative for colleges ranked in the top 50, it only sees a fall as the ranking goes down. Hence, we can conclude that for Indian students currently earning INR 15 lakhs in India, pursuing an MS in AE from German colleges is not a profitable decision. For a Current Salary of INR 25 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 1.1 Crore Negative (-) 1.7 Crore 51-100 (-) 1.1 Crore Negative (-) 1.8 Crore 101-250 (-) 1.3 Crore Negative (-) 2 Crore 251-500 (-) 1.4 Crore Negative (-) 2.1 Crore Verdict - This table also clearly indicates a negative NPV, IRR and Profit values for a salary of INR 25 lakhs in India. It is therefore not a wise decision to study MS Aerospace Engineering in Germany for such students. AustraliaFor a Current Salary of INR 5 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 70 lakhs 50% 1.3 Crore 51-100 69 lakhs 52% 1.3 Crore 101-250 57 lakhs 47% 1.1 Crore 251-500 52 lakhs 44% 1.03 Crore Verdict - NPV, IRR, and profit for students who currently earn INR 5 lakhs in India are positive and quite high. If such students get an opportunity to study MS AE in Australian colleges that rank in the top 500, they should certainly go for it. For a Current Salary of INR 15 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 34 lakhs Negative (-) 34 lakhs 51-100 (-) 35 lakhs Negative (-) 37 lakhs 101-250 (-) 47 lakhs Negative (-) 58 lakhs 251-500 (-) 53 lakhs Negative (-) 68 lakhs For a Current Salary of 25 Lakhs (India) Target College Global Rank NPV IRR Profit 1-50 (-) 1.3 Crore Negative (-) 2 Crore 51-100 (-) 1.38 Crore Negative (-) 2 Crore 101-250 (-) 1.5 Crore Negative (-) 2.2 Crore 251-500 (-) 1.56 Crore Negative (-) 2.3 Crore Verdict - NPV, IRR and Profit values for students having salaries between INR 15 and 25 lakhs are negative for Australian colleges of all rankings. It is therefore advisable for them to keep working in India rather than studying MS AE in Australia. Conclusion - The discussion above clearly shows that pursuing a Masters in Aerospace Engineering course from US, Canada, Germany, and Australia is only a wise decision for those Indian students who are currently earning INR 5 lakhs in India. Those earning INR 15 lakhs in India can also pursue an MS in Aerospace Engineering from US colleges ranked till 500 as the profit for these colleges is high too. However, students who earn more than INR 5 lakhs in India should shelve their plans of pursuing an MS in AE from Germany, Canada, and Australia and continue working in India. Is MS in Aerospace Engineering good?The Master in Aerospace Engineering is an advanced degree that expands your knowledge of space design and operations to support your career. Your education may include opportunities for problem solving and creating innovative designs to find solutions in your industry.
Is Masters worth aerospace?Yes, a masters in aerospace engineering is worth it for many students. A masters degree can often help you qualify for promotions or higher wages. A masters may also qualify you to teach aerospace engineering at community colleges. You can also choose to pursue independent research positions.
What do the top 10% of aerospace engineers make?Aerospace engineers make $100,401 per year on average, or $48.27 per hour, in the United States. Aerospace engineers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $71,000 a year, while the top 10% makes $140,000.
What are the disadvantages of being an aerospace engineer?Stress. Aeronautical engineering can be a stressful career. ... . Work-life balance. Depending on the project or the place of employment, some aeronautical engineers may work more than 40 hours a week. ... . Educational investment. ... . Extensive computer work.. |