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masters in mechanical engineering worth it

The one factor that typically matters the most is monetary returns, especially because an education abroad comes with substantial weight on the pocket. The key difference is whether a student pursues a thesis, in the case of a Masters of Science in Engineering degree or a portfolio project, as per the Masters of Engineering degree.   (-) 26.83 Lakhs   You can choose to specialize in different fields like mechanical or electrical engineering, or take a program that covers all types of theory and practices. The loan repayment term is taken to be 5 years. This query will take effect for any screen smaller than 760px left: 6px; This approach is integrated within the program and is applicable across a range of professions, making graduates well prepared for a changing world. /* Now like a table header */   Target College Global Rank   51-100 It tells you if it is worth leaving your present job to study master’s in the US, Canada, Germany, and Australia. NPV For Current Salary of 15 lakhs (India)   Negative   #table3 td:nth-of-type(3):before { content: "IRR"; } $87,335. For each target country, we will discuss four college rank groups each for three salary levels. The investment will be highly profitable. For every year, for a given country and college group, we calculate (a) net savings in both India and the target country by subtracting the expenses (including income tax and loan repayments) from income, then (b) convert the foreign savings into INR, and finally (c) calculate the difference between the two net savings. That being said, this is mechanical and in the Midwest, so it may … (-) 95.45 Lakhs Due to the huge number of colleges in the US, Canada, Germany and Australia, and varying Indian salaries, we’ve created categories. “The extra credential is not going to make or break your career. 1-50 Looking for help in foreign admission or loan? 58 Lakhs For each target country, we will discuss four college rank groups each for three salary levels. For the Current Salary of 5 lakhs in India. #table2 td:nth-of-type(1):before { content: "Profit"; } Negative Read Also - Is studying MS in Material Science in US Worth it, For the Current Salary of 5 lakhs (India). The one factor that typically matters the most is monetary returns, especially because an education abroad comes with substantial weight on the pocket. Verdict: For those with a salary of INR 25 lakhs per year, it is not a good decision to leave your job in India and go to the US to study MS in ME. #table9 td:nth-of-type(3):before { content: "IRR"; } #table6 td:nth-of-type(3):before { content: "IRR"; } Verdict: NPV, IRR, and Profit are positive and very high for all rankings. In the Estimate Future Earnings tool, you can change this input. The NPV is exceptionally negative. Find the best mechanical engineering programs for you with government statistics and … Profit It means if you are earning INR 5 lakhs per year right now but get the option to study ME Masters in Canada you should definitely choose to go. ← Is MS in Material Science Abroad Worth it   Is MS in Computer Science Abroad Worth it →.   1.15 Crores   NPV 1,87,31,931 26 Lakhs Therefore, use the numbers we’ve given above for assistance. td { border: solid 1px ; } Georgia Tech, as it is widely known, handed out its first Master of Science in Mechanical Engineering in 1925. Yogender is a tech enthusiast with specialization in digital marketing. Both the thesis and project options require a final oral defense for graduation. In very simple words, if you invest X amount of money to go to the US, Germany, Canada, and Australia for MS in Mechanical Engineering, will it yield a net profit in the long run? It's not like the sorry liberal arts degrees that only get the recipient a leg up on high school grads for jobs at Wendy's. Updated on: 02 Dec 2020 76%   Negative   Rather, its another feather in your cap, and potential employers will recognize the analytical and problem solving skills required of such a degree. It means if you are earning INR 5 lakhs per year right now but get the option to study ME Masters in Canada you should definitely choose to go. You would earn and save much more by continuing to work in India. Verdict: NPV, IRR, and Profit are on the negative side for the salaries around 15 and 25 lakhs in India. 251-500 IRR Profit Verdict: For those with a salary of INR 25 lakhs per year, it is not a good decision to leave your job in India and go to the US to study MS in ME. The answer seems clear. 1-50 2.11 Crores #table12 td:nth-of-type(2):before { content: "NPV"; } Of course, not all schools offer a choice of MEng vs MS - or at least not in the same field, such as mechanical engineering; you may not have a choice if you’re set on a particular university. tr { border: 1px solid #ccc; } 1-50 For the Current Salary of 25 lakhs (India). Archived . Negative } Forex rate treatment: We have considered the current currency exchange rates of the targeted abroad countries’ currency and INR, and also accounted for the expected changes in the forex rates using. Fill this form and get personalized help from an admission expert I can't find statistics, but the people I know who have graduated with a masters in mechanical engineering have maybe an average salary of $65k, maaaaybe $70k - not that much difference considering that the students who go into the masters programs would likely have been on the top end of the salary pool for the BS. 1.4 Crores Verdict: It is clearly visible that NPV, IRR and Profit values for the salaries 15 and 25 lakhs in India are completely negative and in such a case, it will not be a prudent decision to go for Mechanical Engineering masters in Germany. #table10 td:nth-of-type(1):before { content: "Target College Global Rank"; }   (-) -1.12 Lakhs   75 Lakhs (-) 1.61 Crores There is no doubt that a Master’s degree in mechanical engineering from most colleges in the USA will offer you a decent career.   Target College Global Rank   For you, it means the difference between the expense borne to go to college in the US, Canada, Germany, and Australia and the extra money you save after employment. Average. (-) 43.53 Lakhs Nov 21, Published date: 24 Aug 2019 Current Salary border-bottom: 1px solid #eee; Masters in Mechanical Engineering Programs in the Dallas-Fort Worth Area Explore masters in mechanical engineering programs and graduate schools offering MS mechanical engineering degrees. Profit There’s prestige in having a post-graduate degree, but is it worth the time, effort, and money? 51-100 The cost of attaining that coveted acronym is no mere chump change. Verdict: NPV, IRR and Profit values for the salaries of 15 and 25 lakhs are highly negative. #table3 td:nth-of-type(2):before { content: "NPV"; } 1.31 Crores “Don’t expect that Master’s to pay much more at first. $70,554. The investment will be highly profitable. #table2 td:nth-of-type(3):before { content: "IRR"; } top: -9999px; $45,000 – 89,500. 1-50 Masters in engineering salary: Is a masters in engineering worth it? Last Few Words #table5 td:nth-of-type(1):before { content: "Target College Global Rank"; } 65 Lakhs /* This article focuses on one field - MS in Mechanical Engineering. Bachelor in engineering with knowledge in materials, mechanics, and modeling, but also others may be suited to the master's program in engineering design. The engineering program boasts an 11:1 student-to-faculty ratio. The Internal Rate of Return is the discount rate that makes the NPV of all cash flows from a particular project equal to zero. Mobile Number In the case of the US, Canada, Germany, and Australia every year, an employee gets a 2% rise in the salary as an increment. 1-50   Still Confused?   /* Force table to not be like tables anymore */ It is a time-weighted measure of return, used by most financial analysts over the world. #table2 td:nth-of-type(2):before { content: "NPV"; } But is it really worth the extra time, effort, and money that you’d spend pursuing an advanced degree? IRR /* Top/left values mimic padding */ What You Will Get: An Opportunity Analysis. A Masters in Mechanical Engineering will prepare you for a range of specialized engineering careers within aerospace, automation, civil engineering and water supply. So just by looking at the basic numbers, it’s clear that it certainly does pay off to give up that year and a half and spend that tuition money. 101-250 49% 61 Lakhs #table8 td:nth-of-type(1):before { content: "Target College Global Rank"; } and also iPads specifically. Profit 113% (-) 2.33 Crores The living expenses such as rent, utilities, car, fuel, insurance, food are averaged as per the country and taken from standard sources. #table10 td:nth-of-type(3):before { content: "IRR"; } That said, the numbers are just a guide. Germany 75 Lakhs   IRR   It means if you are earning INR 5 lakhs per year right now but get the option to study MSME in Germany, you should definitely choose to go. If it’s not the subject of your choice, don’t worry. “If all the other candidates fresh out of college have got a Bachelor’s, and you’re the one with a Master’s, you’ll get noticed,” says Hadick. 94 Lakhs For Current Salary of 5 Lakhs (India)  I’ll outline the advantages and disadvantages that you should consider. It is a time-weighted measure of return, used by most financial analysts over the world. For the Current Salary of 15 lakhs (India) Mechanical engineering is highly specialized, so students should maintain focus while completing their curricula. What Does the Tool do? For the Current Salary of 25 lakhs (India) Playing Volleyball, driving a car, traveling, researching new online marketing trends are some of his interest areas that keeps his rejuvenated.   2.42 Crores   /*   251-500 1.19 Crores When it comes to answering the question of whether or not an Masters in Engineering is worth it, the answer is generally “Yes.” Depending on the specifics, it may or may not give you a significant return on your investment financially.   70 Lakhs position: relative; IRR For India, the corresponding numbers are 7% and 20%. All You Need To Know About WES Evaluation Today, the school’s program ranks sixth in U.S. News’ “Best Engineering Schools” for 2017. (-) 77.42 Lakhs Negative Negative #table7 td:nth-of-type(1):before { content: "Target College Global Rank"; } 1-50 #table12 td:nth-of-type(3):before { content: "IRR"; } #table8 td:nth-of-type(2):before { content: "NPV"; } #table2 td:nth-of-type(1):before { content: "Target College Global Rank"; } IRR Mechanical engineering; Civil engineering; Electrical engineering; Engineering management; Geotechnical engineering; Each of them will also have different specializations to choose from. Close. Verdict: NPV, IRR, and Profit are positive and very high for all rankings. 78% (-) 47 Lakhs #table8 td:nth-of-type(1):before { content: "Profit"; } Over the course of a lifetime that adds up to over $250,000, even allowing for the cost of the degree and the lost income. 251-500 (-) 1 Crore #table6 td:nth-of-type(1):before { content: "Profit"; } When you start your job search, you need every advantage you can get. white-space: nowrap; This article focuses on one field - MS in Mechanical Engineering. NPV Knowledge is a qualitative factor. position: absolute; (-) 2.21 Crores #table12 td:nth-of-type(1):before { content: "Profit"; } The IRR, NPV, and profit shown are for 10 years after the completion of the moratorium period when the repayment of the loan starts. Negative You would earn and save much more by continuing to work in India. This is also relevant for students / young professionals who have a job offer in India. }   1.36 Crores   1-50 #table9 td:nth-of-type(2):before { content: "NPV"; } Accurate, reliable salary and compensation comparisons for Australia For Current Salary of 25 Lakhs (India) 51-100 padding-left: 50%;   1.13 Crores   A zero NPV means you get your original investment back plus the required rate of return. Is a mechanical engineering Masters worth it?   Target College Global Rank   only screen and (max-width: 760px), Verdict: If you are earning INR 15 lakhs per year right now, it still makes sense financially to study MS in Mechanical Engineering from the US in colleges ranking between 1 and 250 as NPV, IRR, and Profit, in this case, are positive. Getting an I-20 form to apply for your visa. Verdict: The NPV is positive and also very high for all rankings. Negative Label the data

Expense

(-) 56 Lakhs Profit NPV Hadick concurs. 2.5 Crores 94 Lakhs   Email ID How to: Get an Engineering Job with a Low GPA, Engineering in the New Industrial Revolution, Where the Engineering Jobs Are: July 2015, 7 More Celebrities You Didn’t Know Were Engineers. An oversimplified way of explaining NPV is this formula: 251-500 (-)1.99 Crores (-) 64 Lakhs Negative We assume in this article that 80% of your education expenses is funded by an education loan and the rest by scholarships/own funds.   Target College Global Rank   101-250 Arrange a call from an expert: Is MS in Mechanical Engineering Abroad Worth it if you are Already Earning Well in India? I am currently enrolled in a local mid tier MS ME program where I am a part time student as I continue to work full time as a project engineer. It is the extra savings you make by choosing to study abroad and working there. 40% Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.     (-) 2.05 Crores   Is it worth getting masters degree in mechanical engineering? You will be better off working in India than studying in Australia if you are earning around these salary denominations. “It’s not a hard and fast rule, but in my experience, larger companies generally want to see a Master’s degree,” he says. Fill this form and get personalized help from an admission expert. Negative 251-500   IRR   It gives you an NPV figure based on your The investment will be highly profitable. Therefore, use the numbers we’ve given above for assistance. 51-100 NPV The investment will be highly profitable.   } Negative You will be better off working in India than studying in Australia if you are earning around these salary denominations. The online Master’s Degree in Mechanical Engineering from Purdue University is the best of both worlds for working professionals: a world-class graduate degree in engineering, with the flexibility of an entirely online program. I use the knowledge gained in my Master’s courses everyday. Profit To answer this question, we utilize our estimate future earnings tool. He is currently working at Gyandhan a leading company which provides Education Loan who are studying Abroad.   Target College Global Rank   6% It means if you are earning INR 5 lakhs per year right now but get the option to study MSME in the US, you should definitely choose to go.   (-) 1.27 Crores Master of Engineering (MEng / ME) - Salary - Get a free salary comparison based on job title, skills, experience and education. The final decision should be taken after considering all factors. td { border: solid 1px ; } “They don’t necessarily make it a stated requirement, but that’s where the jobs go in practice. Negative Average investment equals to the total of the average tuition fee of the universities falling under a rank bracket and the corresponding average off-campus living expenses. Profit is self-explanatory. Read Also - Is Studying MS in Material Science in Germany Worth it. Which Engineering Discipline is Right For You? Even if you don’t do one right away, it’s worth considering at a later stage when you’re ready to take the next step.   (-) 86.20 Lakhs   What You Will Get: An Opportunity Analysis 51-100 Negative */ The IRR, NPV, and profit shown are for 10 years after the completion of the moratorium period when the repayment of the loan starts.   (-) 30.81 Lakhs   An online mechanical engineering master's degree leads to employment opportunities in some of the newest and most innovative industries. 101-250 Few Assumptions Used in Our Analysis: $72,137. #table5 td:nth-of-type(2):before { content: "NPV"; } The table above vividly depicts the positive values of NPV, IRR, and Profit for 10 years. (-) 35 Lakhs 1-50 Profit 63%   (-) 1.14 Crores     Target College Global Rank   90 Lakhs For the US, Canada, Germany, and Australia, the expenses increase by 3% and for India, by 5% every year. #table1 td:nth-of-type(3):before { content: "IRR"; } (-) 1.99 Crores (-) 29.83 Lakhs It will not be a good decision to go to Canada for higher studies in this situation. Students pursuing a master of science in mechanical engineering should be dedicated to their field before enrolling in their master's program. Verdict: It is clearly visible that NPV, IRR and Profit values for the salaries 15 and 25 lakhs in India are completely negative and in such a case, it will not be a prudent decision to go for Mechanical Engineering masters in Germany. Profit Yogender Panchal If the NPV is positive, it’s great. Every alternate year, he/she gets a promotion which leads to a 10% increase in the salary.   Target College Global Rank   Posted by u/[deleted] 4 years ago. There are a few reasons why getting a master’s degree might benefit you and your mechanical engineering career: You’ll Make More Money 51-100 In the Estimate Future Earnings tool, you can change this input. 1.3 Crores Graduate students in the program select from three concentrations: Design and Dynamic Systems and Controls, … Name “It’s a huge differentiator, especially when you have no actual experience.”. Every alternate year, he/she gets a promotion which leads to a 10% increase in the salary. When you take a specialized Master of Engineering program, you will cover upper-level courses that prepare you either academically or professionally. 51-100 IRR To know if it makes sense for you to leave your job in India and study MS in Mechanical Engineering abroad, scroll down to the global rank your target college falls within and then to your salary figure. NPV Answer Save. td:before {   (-) 1.19 Crores   (-) 1.46 Crores Core to Mechanical Engineering process is the ability to formulate a problem, identify potential solutions, analyze and model solutions and select the most appropriate solution within constraints.   Most Master in Mechanical Engineering programs begin with foundational courses in advanced mathematics and science, such as statistics and physics, and continue with specialized courses in optimization, engineering materials, systems design, manufacturing engineering and management. In our calculations, we have accounted for all standard factors and made standard assumptions. (-) 40 Lakhs 111% For the Current Salary of 15 lakhs (India) To answer this question, we utilize our estimate future earnings tool.   (-) 40 Lakhs   #table3 td:nth-of-type(1):before { content: "Profit"; } 101-250 IRR 9 years ago. They are: Negative 1.7 Crores 251-500 Verdict: Engineers earning around 5 lakhs in India, if you get an opportunity to study in Australia in the colleges ranking between 1-500, you must go for it. For the US, Canada, Germany, and Australia, the expenses increase by 3% and for India, by 5% every year. Nov 25, All About Auxilo Education Loan Disbursement Process 51-100 If the NPV is positive, it’s great. NPV = Money saved abroad – Expenses borne to study there – Money you would have saved in India by continuing with the present job, discounted to the present at 8% per annum. (-) 1.4 Lakhs There is no doubt that a Master’s degree in mechanical engineering from most colleges in the USA will offer you a decent career. 22%   47% When you study for a bachelor's degree in engineering, you will take several different introductory courses that will help you build your knowledge so that you can start to search for entry-level engineering jobs. But for countries such as Australia, Canada, and Germany, it only makes sense when you are earning only around 5 lakhs in India.   65.42 Lakhs   Verdict: The NPV is not only positive but also very high for all rankings. The program is a design-oriented degree for engineers with industrial experience (rather than a research-oriented program that would prepare you for postgraduate study). In the process of acquiring a Master's in Electrical Engineering, students gain in-depth knowledge in areas related to superconductivity, modern electric machinery, modeling and … “Another way to answer this value question is to look at what your goals are. It is the extra savings you make by choosing to study abroad and working there. Master’s in mechanical engineering grads should consider becoming a senior mechanical engineer (median annual salary of $100,000), project engineer (median annual salary of $88,300) and mechanical engineer (median annual salary of $86,800). 19% 251-500   Negative     (-) 1.96 Crores   #table7 td:nth-of-type(1):before { content: "Profit"; } 81 Lakhs #table10 td:nth-of-type(2):before { content: "NPV"; } Verdict: NPV, IRR and Profit values for the salaries of 15 and 25 lakhs are highly negative. The question up for debate is not “should you go abroad for MS in Mechanical Engineering?” It is, “Is it worth studying MS in Mechanical Engineering abroad if you’re already earning well in India?” And that’s what we’ll help you decide. Negative If the NPV is negative, then it is not so good. 6. As you read on, you’ll notice two more figures given next to NPV - IRR, and Profit. 1.6 Crores 101-250 Profit #table12 td:nth-of-type(1):before { content: "Target College Global Rank"; } #table11 td:nth-of-type(3):before { content: "IRR"; } All You Need To Know About WES Evaluation, ICICI Bank Education Loan Disbursement Process, All About Auxilo Education Loan Disbursement Process, Is studying MS in Material Science in US Worth it, Is Studying MS in Material Science in Canada Worth it, Is Studying MS in Material Science in Germany Worth it, Is Studying MS in Material Science in Australia Worth it, ← Is MS in Material Science Abroad Worth it, Is MS in Computer Science Abroad Worth it →, Evaluate your chances of getting into a college, First Floor, 262, Westend Marg, Saiyad Ul Ajaib Extension, Saket, New Delhi, Delhi 110030. For Current Salary of 5 lakhs (India)  251-500 (-) 30 Lakhs To know if it makes sense for you to leave your job in India and study MS in Mechanical Engineering abroad, scroll down to the global rank your target college falls within and then to your salary figure.   Also, would it be hard to get a job in the USA if i go to college in India? 1,00,81,483 The opportunity to gain knowledge, access resources, and achieve better employment is enormous in developed countries. NPV Bob Hadick has been a recruiter with Russ Hadick Associates in Dayton, Ohio for 15 years, and formerly worked as a Director of Engineering in both the US and the UK. For the Current Salary of 25 lakhs (India)   Target College Global Rank   This is also relevant for students / young professionals who have a job offer in India. Australia Verdict: The NPV is positive and also very high for all rankings. (-) 2.5 Crores #table3 td:nth-of-type(1):before { content: "Target College Global Rank"; } The Pros. 101-250 top: 6px; Master of Mechanical Engineering (MME) - Salary - Get a free salary comparison based on job title, skills, experience and education. (-) 7.7 Lakhs   74 Lakhs 1.42 Crores Profit td { border: solid 1px ; }   118%   We regularly talk about the value of internships and extra-curricular activities, but one thing that’s bound to stand out is a postgraduate degree. Verdict: If you are earning INR 15 lakhs per year right now, it still makes sense financially to study MS in Mechanical Engineering from the US in colleges ranking between 1 and 250 as NPV, IRR, and Profit, in this case, are positive. A mechanical engineering Master’s can help you find work, boost your career, and pay for itself. We assume in this article that 80% of your education expenses is funded by an education loan and the rest by scholarships/own funds. #table5 td:nth-of-type(3):before { content: "IRR"; } $50,000 – 130,000. td { border: solid 1px ; } Is it worth getting masters degree in mechanical engineering? 251-500 Negative (-) 1.31 Crores   83 Lakhs   Negative They are: Now that you have a basic grasp of the assumptions, we move on to answering the original question. If y… (min-device-width: 768px) and (max-device-width: 1024px) { On the one hand, it’s more common for engineers to find themselves in management positions early in their careers. As you near the end of your mechanical engineering Bachelor’s, you’ll inevitably be faced with the decision to pursue a postgraduate degree or move into the workforce. Is an engineering master’s degree worth it if I have a bachelor’s degree? What’s NPV? The living expenses such as rent, utilities, car, fuel, insurance, food are averaged as per the country and taken from standard sources. 51-100 Read Also - Is studying MS in Material Science in US Worth it NPV   The number of opportunities opening up after studying abroad is one way to decide if it's worth leaving your current (or potential) job and applying to universities abroad for further studies. (-) 1.54 Crores The final decision should be taken after considering all factors. Tax treatment: We have studied and accounted for income tax regimes of all countries in our calculations. Read Also - Is Studying MS in Material Science in Australia Worth it (-) 10 Lakhs   Target College Global Rank   (-) 1.1 Crores #table6 td:nth-of-type(2):before { content: "NPV"; } (-) 1.7 Crores I don't think it's the type of subject you get a degree in because you have an interest in it - physics is more like that - but something you do for the career prospects. In recent years, costs for higher education have well outpaced the rate of inflation, and the MBA degree is no exception. “When an employer is looking at their staff for assignments for new projects, the person with the Master’s is more likely to get picked for senior roles,” says David Soukup, Managing Director of Governance at ASME, The American Society of Mechanical Engineering. Favorite Answer. The program is large, with 150 students enrolled. In our calculations, we have accounted for all standard factors and made standard assumptions. Although you can be a successful mechanical engineer with just a Bachelor’s degree, the evidence is that having a Master’s will give you an edge throughout your professional life. #table10 td:nth-of-type(1):before { content: "Profit"; } The number of opportunities opening up after studying abroad is one way to decide if it's worth leaving your current (or potential) job and applying to universities abroad for further studies. 251-500 (-) 2.1 Crores $83,000. But over time, it builds up as your career develops.”, Mason Green runs his own company, Greenchild, which develops guitar pedals and other audio equipment.   Read Also - Is Studying MS in Material Science in Australia Worth it. Many R&D jobs in industry can still be had with only a BS. (-) 1.3 Crores Net Present Value is used to calculate the total of all cash flows (in and out) that are directly connected to a project. 15 Lakhs Through their Engineering Outreach program, the University of Idaho’s School of Engineering offers an affordable, online Master of Engineering in Mechanical Engineering. The investment will be highly profitable. 74% I don't want to be a manager, I want to be an actual engineer, so i don't need an MBA. That said, the numbers are just a guide. Website Points: 6 Southern Methodist University's Lyle School of Engineering educates more than 1,000 graduate students every year. Engineering seldom requires an advanced degree. 51-100 Median. In as little as one year, you can finish a graduate degree that is rich in research and innovation, allowing you to advance to new levels in your career. Graduates are prepared for careers in a variety of manufacturing settings, including transportation and safety, … The question up for debate is not “should you go abroad for MS in Mechanical Engineering?” It is, “Is it worth studying MS in Mechanical Engineering abroad if you’re already earning well in India?” And that’s what we’ll help you decide. 101-250 NPV ASME recently conducted a survey into the value of a Master’s degree. It’s not an easy question. Nov 27, ICICI Bank Education Loan Disbursement Process For the Current Salary of 5 lakhs (India) 1-50 In very simple words, if you invest X amount of money to go to the US, Germany, Canada, and Australia for MS in Mechanical Engineering, will it yield a net profit in the long run? (-) 1.8 Crores Follow me on Instagram @parthvijayvergiya If you need any help, I have made a couple of facebook groups, if you’d like to join feel free. Read Also - Is Studying MS in Material Science in Germany Worth it #table1 td:nth-of-type(2):before { content: "NPV"; } Profit is self-explanatory. This uncertainty is settled by nonfinancial concerns, however. Is it worth doing a masters in mechanical engineering? The average salary for a mechanical engineer is about $10,000 higher if they have that extra degree. For the Current Salary of 15 lakhs (India). By Jordan Friedman , Contributor April 26, … #table11 td:nth-of-type(1):before { content: "Profit"; } (-) 15 Lakhs   IRR   (-) 58 Lakhs   Negative   (-) 77 Lakhs It will not be a good decision to go to Canada for higher studies in this situation. He sums up the situation concisely.   Target College Global Rank   The Bureau of Labor Statistics projects that the industry will experience 5% growth by 2024, which is on par with the national average. I'll be doing my bachelor's in India. td { border: solid 1px ; } Forex rate treatment: We have considered the current currency exchange rates of the targeted abroad countries’ currency and INR, and also accounted for the expected changes in the forex rates using forward rates for 10 years. To get a more granular answer, you can use our tool. In the case of the US, Canada, Germany, and Australia every year, an employee gets a 2% rise in the salary as an increment.   Target College Global Rank   Range. While both of these advanced degrees are key to improving a professional’s or a student’s knowledge, engineers are advised to get a Master’s in Engineering Management degree instead of getting a traditional advanced degree like an MBA. */ The program has a thesis option, a project option, and a coursework option to choose between. Verdict: If you are earning INR 15 lakhs per year right now, it still makes sense financially to study MS in Mechanical Engineering from the US in colleges ranking between 1 and 250 as NPV, IRR, and Profit, in this case, are positive. 1-50 88% An MBA at a storied institution such as Harvard or Stanford will easily run you above $60k per year. } Bachelor's . 101-250 Master's . left: -9999px; 1.1 Crores #table6 td:nth-of-type(1):before { content: "Target College Global Rank"; } Negative Read Also - Is Studying MS in Material Science in Canada Worth it Net Present Value is used to calculate the total of all cash flows (in and out) that are directly connected to a project. width: 45%; #table1 td:nth-of-type(1):before { content: "Target College Global Rank"; } 70% To get a more granular answer, you can use our tool. This can be in the field of Electrical Engineering, Environmental Engineering, Mechanical Engineering, and the like. #table9 td:nth-of-type(1):before { content: "Target College Global Rank"; } For example, in electrical engineering possible specializations might include computer engineering or robotics. 1-50 I tackle engineering challenges in all facets of the business: research, product design and development, sourcing, and distribution.”. position: absolute;   Negative   The average salary for a mechanical engineer is about $10,000 higher if they have that extra degree. (-) 1.43 Crores It tells you if it is worth leaving your present job to study master’s in the US, Canada, Germany, and Australia. #table5 td:nth-of-type(1):before { content: "Profit"; }   (-) 1.33 Crores   Most engineering employers accept online master's degrees, but make sure the program is accredited, experts say. But it Financially Worth it to Study MS in ME Abroad? Hadick urges a little caution, however. Is Software Engineering Really Engineering. Relevance. padding-right: 10px; (-) 24 Lakhs 2 Answers. For every year, for a given country and college group, we calculate (a) net savings in both India and the target country by subtracting the expenses (including income tax and loan repayments) from income, then (b) convert the foreign savings into INR, and finally (c) calculate the difference between the two net savings. How Does the Tool Find Out? For Current Salary of 25 Lakhs (India) Max width before this PARTICULAR table gets nasty 1) Mechanical engineering is worth it for me because it opens up the type of career options I'm interested in.   (-) 1.77 Crores   What kind of jobs can I get by studying Mechanical Engineering? For the Current Salary of 5 lakhs in India If it’s not the subject of your choice, don’t worry.   It means if you are earning INR 5 lakhs per year right now but get the option to study MSME in the US, you should definitely choose to go. For India, the corresponding numbers are 7% and 20%. Negative 55%   Read Also - Is Studying MS in Material Science in Canada Worth it.   97 Lakhs   NPV Verdict: NPV, IRR, and Profit are on the negative side for the salaries around 15 and 25 lakhs in India. 101-250 1.6 Crores

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