Education is the gateway to the world of new opportunities. As the globalisation enters the last phase, it is more evident now than ever before that the challenges that lie are also increasing. This would mean that having an international exposure by studying abroad will help students to learn things differently and in a meaningful manner that will help them in their future endeavours.
PricewaterhouseCoopers predicts that by 2050, the E7 (China, India, Brazil, Russia, Indonesia, Mexico, Turkey) will be more than 50% larger than the G7 countries (the U.S, UK, France, Germany, Italy, Canada, Japan) when measured by GDP at market rates.
This change in global economy will mean that the products and services to the western countries will be supplied majorly by countries like India and China, however, without knowing how the western world works the workforce may not be able to deliver the need. In order to be equipped with soft skills and critical thinking needed for problem solving studying abroad becomes that much more important.
From the employers’ point of view, when they must choose someone for a job position, they would consider all the factors such as age, education, experience and talent. However, when it comes to local education versus foreign education, employers will prefer the one who has studied abroad. This is because the employers feel that a candidate with foreign education would have had the exposure that would benefit the company in the long term and would want such people to part of the company. 60% of employers agree that candidates who have studied abroad will be preferred.
From an individual point of view, having studied abroad the candidates can expect better remuneration from companies with 1.5 times to 3 times more than the ones who don’t have foreign education and can also have better positions as compared to someone who doesn’t have similar exposure. The fact that most overseas educational institutes will also provide opportunity to study both parallelly and after study work will mean that by the time a candidate completes his or her education and comes back to their own country, they would have both the theoretical and practical knowledge which makes them valuable.
Financial factors are not the only reason to study abroad, studying abroad will give a better perspective about life and its challenges. It will help an individual to realise their true worth and what they are capable of.
The Indian education system is more of classroom teaching, whereas in the western countries they focus on teaching the concept of self-development. This would mean that the students will learn not just within the classroom but also in the real world which will end up being a life changer.
Learning about different cultures, being part of the said cultures, learning new languages, meeting people from different cultures will all be a learning curve which cannot be obtained by the domestic education system. This will help the candidates have a different perspective about the world.