Top Countries to Study Abroad with Highest ROI

10 min read

Globalization has fast-tracked the trend of studying abroad exponentially. Pursuing a master’s degree from a foreign country and a reputed international university offers an array of exciting career prospects but also aids in the overall development of an individual. So, if you are someone who dreams of pursuing your master’s from a top institution and is on the lookout for which country to opt for, this article is for you. To make the process a little easier, we have curated a list of the countries to study abroad for Indian students.

The United States of America

Most students think about pursuing their masters in the USA when it comes to top academic standards. However, the first thought that comes to mind is the cost of MS in the USA. An average master’s course in the USA is a two-year degree, so the cost has to be calculated accordingly. Tuition fees will likely vary from university to university and from one state to another. It also depends on the course you are thinking of pursuing. 

Fees of Top Courses in the USA

Top CoursesAverage Tuition fees ($)Average Tuition Fees ()
MS Computational Science and Engineering 
$53,450₹42.57L
MS Computer Science$45,440₹36.19L
MBA$74,904₹59.7L
Master of Business Analytics (STEM)$1,02,008₹81.3L
MS in Engineering Management (MSEMT)$56,714₹45.2L

Salary Projections post a Master’s degree in the US

SpecializationAverage Annual Salary ($)Average Annual Salary ()
Computer Science$75.9K₹60.45L
Engineering $73.9K₹58.86L
Business$60.7K₹48.34L
Engineering Management$144,000₹1.14Cr
Business Analytics$127,750₹1.01Cr

Suggested: Study Abroad Application

Cost of Living in the USA

The cost of living in the USA is expensive compared to other study destinations. Multiple factors impact the total cost of living and studying in the USA. The factors such as location, apartment size, living proximity to the university, food, and other miscellaneous expenses weigh in. The average cost for an international student is between ₹37,431- ₹82,348 per month, including all kinds of expenses. If the MS course is of two years duration, the cost of living is likely to be more than ₹8,98,344 per year. The cost of living can be managed with the help of internship earnings.  

Stay Back Period in the US

It is advisable to consider that while the USA is very appealing economically, it might be challenging to work there after graduation because of stringent work regulations. International students who wish to stay back in the US after completing their degree can do so through Optional Practical Training (OPT). Temporary employment permission enables students to gain practical experience in their field of study for 12 months.

United Kingdom (UK)

The UK is always on the list of the top study-abroad destinations for Indian students. With leading study destinations like Scotland, England, and Northern Ireland, the UK is home to more than 350 universities, offering diverse courses to international students. A master’s program in the UK is shorter and more intensive than in other countries, making it easy for the students to graduate sooner (within a year). UK universities and the government offer many scholarships to cut down the cost of living and studying there.

Fees of Top Courses in the UK

CourseAverage Tuition fees (£)Average Tuition fees ()
MS – Computer science£21,238₹19.32L
MS in Law & Finance£24,500₹22.29L
MS – Business Analytics£33,154₹30.16L
MS – Data Science£16,739₹15.24L
MS – Engineering Management£23,614₹21.50L

Salary Projections post a Master’s degree in the UK

SpecializationAverage Annual Salary (£)
Average Annual Salary ()
Data Science£38,000₹34.60L
Computer science£32,000₹29.15L
Finance£77,000₹70.14L
Legal Department£61,000₹55.57

Cost of Living in the UK

Every student dreams of studying in London, Oxford, or other cities in the UK. But this dream has a price tag attached to it. The total cost of pursuing a master’s in the UK can range from ₹22.73 lakhs to ₹52.5 lakhs

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Stay Back Period in the UK

International students can stay back in the UK after completing their degree program for four months. If the student holds a student visa, they can work in the UK for 20 hours a week during their master’s term time and available hours during the holidays. The Graduate Route program is available for students with a Tier 4 or student visa who have finished a UK degree in the summer of 2021 and beyond. It enables them to stay in the UK for two years after graduating, with no restrictions on their work. However, once the two-year period is over, they must apply for another visa to remain in the UK, usually a Tier 2 visa.

Germany

Pursuing a Master’s program in Germany is a significant choice for many students. The master’s programs in Germany draw on world-leading expertise in several specializations, particularly in STEM and related subject areas.Most of the universities in Germany are state-funded and do not charge tuition fees for master’s programs. Academic excellence is the sole criterion for students opting for Germany for higher education.

Fees of Top Courses in Germany

Top CoursesEstimated Tuition fees (Estimated Tuition fees ()
MS in Electrical Engineering€1,526₹1.22L
MS in Automotive EngineeringWaivedWaived
MedicineWaivedWaived up to ₹28,393

Salary Projections Post a Master’s degree in Germany

SpecializationAverage Annual Salary ()Average Annual Salary ()
Data Science€60,391₹52.65L
Engineering€46,000₹40.10L
Automation Engineering€123,000₹1.07Cr
Information technology€76,000₹66.26L

Suggested: Apply for Masters for an Indian Students

Cost of Living

Not only does Germany offer free education, but it is a pretty affordable country as well. Students’ average cost of living usually ranges between €700 – €1,000 per month, i.e. ₹55,000 – ₹80,000 per month, including accommodation.

  • For larger cities like Berlin, Frankfurt, or Dusseldorf, the total living costs range between €900 – €1,500, i.e. ₹71,000 to ₹1.2 lakhs per month
  • For smaller cities like Freiburg, Leipzig, or Hannover, it goes between €750 – €1,100, i.e. ₹60,000 to ₹87,000 per month

Stay Back Period in Germany

After completing the master’s degree program, international students can acquire a Residence Permit for around 18 months in Germany to search for a job in their field of study. Germany offers an average salary of 76,000-103,000 €/year, i.e., ₹ 66,27,743 to 89,82,336 per year for master graduates.

Canada

Canada is often on the checklist of Indian students who want to study abroad. Canada’s education system is comparatively advanced. Canada is home to some of the leading institutions and offers an affordable cost of living and tuition fees.

Fees of Top Courses in Canada

CourseAverage Tuition Fees (CAD)Average Tuition Fees ()
MS in Data ScienceC$ 37,897₹22.14L
MS Computer ScienceC$ 8,592 
₹8L
Management
C$ 18,110₹10.58L
MS in ArchitectureC$ 24,558₹14.34L
MS in Engineering ManagementC$ 25,718₹15.02L

Salary Projections post a Master’s degree in Canada

SpecializationAverage Annual Salary (C$)Average Annual Salary ()
CS-ITC$62,000₹37.25L
Electrical EngineeringC$75,000₹45.06L
Civil EngineeringC$48,000₹28.84L
Mechanical EngineeringC$50,000
₹30.04L

Suggested: IELTS Guide

Cost of Living in Canada

The cost of living in Canada is about 2% lower than in the USA. However, a few states can have lower expenses. The monthly accommodation fee varies depending on the province. The average monthly accommodation cost ranges between C$850 – C$1,000, i.e. ₹50,000 to ₹60,000 annually.

Stay Back Period in Canada

Many prefer Canada as one of the top study destinations to pursue a master’s degree. A post-graduation work permit in Canada is valid for the same duration as the program of study. The student is eligible to stay for a minimum of 8 months and a maximum of 3 years after completing their master’s program. To be eligible for this, the course duration should be a minimum of 8 months.

Australia

Australia is another popular destination among Indian students. Australian university qualifications are recognized internationally and valued by top employers and academics. The primary reason behind choosing Australian universities is the affordable fee structure and cost of living compared to other countries. The flexible work policies are a value addition.

Popular Programs for MS in Australia

Top CoursesEstimated Tuition Fees (AUD)Estimated Tuition Fees ()
Masters in EngineeringA$18,901 – A$52530₹10.10- ₹28.07L
MS in Computer Science & ITA$91700₹73.08L
MS in Computer Science & ITA$74880₹59.86L
MS Environmental SciencesA$31475 – A$73454₹16.84 – ₹39.3L
MS FinanceA$68,040₹54.23L

Salary Projections Post a Master’s degree in Australia

SpecializationAverage Annual Salary (AUD)Average Annual Salary ()
MS in Computer ScienceA$75,713₹60.34L
MS in Business Analytics and Data ScienceA$145,000
₹1.15Cr
MS in EngineeringA$92,800₹73.97L
MS in AccountingA$193,000₹1.53Cr

Suggested:IELTS Guide

Cost of Living in Australia

International students planning to choose Australia as their study destination must have a minimum of A$21,000, i.e. ₹11.20 lakhs per year, as an additional cost of living. The expenses vary based on the choice of accommodations in Australia.

Stay Back Period

An international student who has completed two years of a degree program in Australia can stay for 18 months to gain work experience. If the student plans to study in Australia for more than three months, they will require a student visa. The student visa process is easy and is done by applying online. Based on the educational qualifications, one can work between 1.5 years-4 years. However, the applicant must have had a valid student visa in the last 6 months. The application cost for the visa is usually around A$1,650 [approximately ₹81,000].

In Conclusion

Now that you are familiar with some of the best countries to study abroad as an Indian student, we hope this list will help you narrow your search for the top institution. If you are in search of any guidance concerning the application process of a particular country or university, you can get in touch with the experts at MastersBuddy. We will guide you to choose the right course and university that suits your interests and future goals. 

Viral Vora

Viral Vora

Viral Vora is the co-founder of MastersBuddy, a platform that is building the world’s best study abroad experience. He is a graduate of IE Business School and KJSCE Vidyavihar. Viral is passionate about helping students achieve their academic, professional, and personal goals.

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