251-500 #table1 td:nth-of-type(1):before { content: "Target College Global Rank"; } /*   83 Lakhs   101-250 Read Also - Is studying MS in Material Science in US Worth it 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. (-) 30 Lakhs padding-right: 10px; 19% On the one hand, it’s more common for engineers to find themselves in management positions early in their careers.   “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. Negative 101-250 (-) 1 Crore #table3 td:nth-of-type(2):before { content: "NPV"; } (-) 15 Lakhs #table12 td:nth-of-type(1):before { content: "Profit"; } 6. Fill this form and get personalized help from an admission expert. (-) 2.21 Crores The program is large, with 150 students enrolled. The opportunity to gain knowledge, access resources, and achieve better employment is enormous in developed countries. The Internal Rate of Return is the discount rate that makes the NPV of all cash flows from a particular project equal to zero. Canada Mechanical engineering; Civil engineering; Electrical engineering; Engineering management; Geotechnical engineering; Each of them will also have different specializations to choose from. 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. This article focuses on one field - MS in Mechanical Engineering. td { border: solid 1px ; } Median. Knowledge is a qualitative factor. A zero NPV means you get your original investment back plus the required rate of return. 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. Knowledge is a qualitative factor. Verdict: The NPV is positive and also very high for all rankings. Arrange a call from an expert: Is MS in Mechanical Engineering Abroad Worth it if you are Already Earning Well in India?   97 Lakhs   But is it really worth the extra time, effort, and money that you’d spend pursuing an advanced degree? Rather, its another feather in your cap, and potential employers will recognize the analytical and problem solving skills required of such a degree. The investment will be highly profitable. 1) Mechanical engineering is worth it for me because it opens up the type of career options I'm interested in. What’s NPV? */ In the coming weeks, we’ll give similar analyses for the other fields as well. #table12 td:nth-of-type(2):before { content: "NPV"; } Verdict: NPV, IRR, and Profit are positive and very high for all rankings. (-) 51.99 Lakhs Looking for help in foreign admission or loan?   Target College Global Rank   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. (-) 1.27 Crores Verdict: NPV, IRR, and Profit are positive and very high for all rankings. tr { border: 1px solid #ccc; } An oversimplified way of explaining NPV is this formula:   (-) 2.05 Crores   Mobile Number The cost of attaining that coveted acronym is no mere chump change. Students will gain the knowledge and skills … I use the knowledge gained in my Master’s courses everyday. 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. Negative He is currently working at Gyandhan a leading company which provides Education Loan who are studying Abroad. NPV td { border: solid 1px ; }   Target College Global Rank   (-) 24 Lakhs Master's . 75 Lakhs Tax treatment: We have studied and accounted for income tax regimes of all countries in our calculations.   IRR   td { IRR #table10 td:nth-of-type(1):before { content: "Profit"; } What You Will Get: An Opportunity Analysis.   Target College Global Rank   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. Negative white-space: nowrap; “They don’t necessarily make it a stated requirement, but that’s where the jobs go in practice. */ What kind of jobs can I get by studying Mechanical Engineering? 251-500   Negative     Is Software Engineering Really Engineering. For Current Salary of 25 Lakhs (India) NPV 251-500 251-500 United States 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. What Does the Tool do?   Target College Global Rank   52% Germany td { border: solid 1px ; }   Target College Global Rank   Net Present Value is used to calculate the total of all cash flows (in and out) that are directly connected to a project. NPV and also iPads specifically.   (-) 40 Lakhs   #table12 td:nth-of-type(3):before { content: "IRR"; } #table8 td:nth-of-type(1):before { content: "Profit"; } NPV If the NPV is negative, then it is not so good. In the case of the US, Canada, Germany, and Australia every year, an employee gets a 2% rise in the salary as an increment. Negative A zero NPV means you get your original investment back plus the required rate of return. 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). 51-100 Profit #table3 td:nth-of-type(1):before { content: "Target College Global Rank"; } “Starting salaries aren’t that much different,” he notes. For each target country, we will discuss four college rank groups each for three salary levels. Profit left: 6px; td { border: solid 1px ; } In the Estimate Future Earnings tool, you can change this input.   Hadick urges a little caution, however. (-) 2.1 Crores 1-50 A Masters in Mechanical Engineering will prepare you for a range of specialized engineering careers within aerospace, automation, civil engineering and water supply.   (-) 1.14 Crores   51-100 In our calculations, we have accounted for all standard factors and made standard assumptions. #table7 td:nth-of-type(3):before { content: "IRR"; } Negative   (-) 1.19 Crores   The program has a thesis option, a project option, and a coursework option to choose between.   (-) 1.96 Crores   Negative   46.64 Lakhs   33 Lakhs   #table11 td:nth-of-type(1):before { content: "Profit"; } bryan o. 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).   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. (-) 35 Lakhs 94 Lakhs   IRR   Average. #table11 td:nth-of-type(2):before { content: "NPV"; } “It’s a huge differentiator, especially when you have no actual experience.”. position: relative; It is the extra savings you make by choosing to study abroad and working there. 251-500 51-100 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. 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. NPV An oversimplified way of explaining NPV is this formula: 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. 76% How Does the Tool Find Out? If the NPV is negative, then it is not so good. 12% 68%   Negative   40% 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. Nov 21, Published date: 24 Aug 2019 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. (-) 40 Lakhs 1-50 The investment will be highly profitable. /* #table7 td:nth-of-type(1):before { content: "Target College Global Rank"; } Profit The one factor that typically matters the most is monetary returns, especially because an education abroad comes with substantial weight on the pocket. Name Therefore, use the numbers we’ve given above for assistance. There is no doubt that a Master’s degree in mechanical engineering from most colleges in the USA will offer you a decent career. 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. 101-250   We assume in this article that 80% of your education expenses is funded by an education loan and the rest by scholarships/own funds. Archived . It will not be a good decision to go to Canada for higher studies in this situation. 65 Lakhs We assume in this article that 80% of your education expenses is funded by an education loan and the rest by scholarships/own funds. /* Force table to not be like tables anymore */   Target College Global Rank   Nov 25, All About Auxilo Education Loan Disbursement Process (-) 1.1 Crores (-) 47 Lakhs 251-500 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. If it’s not the subject of your choice, don’t worry.   1-50 The answer seems clear. In the current job market, a Master’s in Engineering will only serve to make you more competitive.”, However, that’s not the only way to look at it. For Current Salary of 15 lakhs (India) (-) 29 Lakhs @media Profit 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. It is worth pointing out that mechanical engineering is one of the most expansive and lucrative fields – partly due to the growing population and constant demand for housing.   (-) -1.12 Lakhs   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. #table10 td:nth-of-type(3):before { content: "IRR"; } What You Will Get: An Opportunity Analysis That said, the numbers are just a guide. /* Now like a table header */ #table2 td:nth-of-type(1):before { content: "Profit"; }   (-) 69.66 Lakhs This article focuses on one field - MS in Mechanical Engineering. 74 Lakhs Few Assumptions Used in Our Analysis: NPV Read Also - Is Studying MS in Material Science in Germany Worth it. (-) 30 Lakhs Graduate students in the program select from three concentrations: Design and Dynamic Systems and Controls, …   1.15 Crores   (-) 64 Lakhs 91%   65.42 Lakhs   Negative   1.36 Crores   Verdict: The NPV is not only positive but also very high for all rankings. 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. border: none; IRR Answer Save. (-) 1.99 Crores Still Confused? 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 Australia The Bureau of Labor Statistics projects that the industry will experience 5% growth by 2024, which is on par with the national average. IRR NPV 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. }   (-) 86.20 Lakhs     Target College Global Rank   Negative Therefore, use the numbers we’ve given above for assistance. 1.19 Crores Profit is self-explanatory. 101-250 #table9 td:nth-of-type(2):before { content: "NPV"; } The one factor that typically matters the most is monetary returns, especially because an education abroad comes with substantial weight on the pocket. That being said, this is mechanical and in the Midwest, so it may … 251-500 position: absolute; 2 Answers. 1,87,31,931 (-) 77 Lakhs If the NPV is positive, it’s great.   Negative   2.11 Crores Negative It gives you an NPV figure based on your The higher the IRR, the better is the choice for you. 51-100 You would earn and save much more by continuing to work in India. 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. 1.6 Crores (-) 1.43 Crores This query will take effect for any screen smaller than 760px 78% Profit #table5 td:nth-of-type(1):before { content: "Profit"; } When you take a specialized Master of Engineering program, you will cover upper-level courses that prepare you either academically or professionally. #table7 td:nth-of-type(1):before { content: "Profit"; } #table6 td:nth-of-type(1):before { content: "Target College Global Rank"; }   Target College Global Rank   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. 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. NPV 251-500 This is also relevant for students / young professionals who have a job offer in India. 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. Special interest in understanding mathematical and physical theories and descriptions of for instance different construction behaviors, design processes, materials behavior may be a benefit for maximizing the learning outcome in education. Read Also - Is Studying MS in Material Science in Canada Worth it Read Also - Is Studying MS in Material Science in Australia Worth it Negative Verdict: NPV, IRR, and Profit are on the negative side for the salaries around 15 and 25 lakhs in India. Master of Engineering (MEng / ME) - Salary - Get a free salary comparison based on job title, skills, experience and education. The NPV is exceptionally negative. 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? (-) 1.1 Crores It is a time-weighted measure of return, used by most financial analysts over the world. If the NPV is positive, it’s great. 1.42 Crores For the Current Salary of 25 lakhs (India)   118%   Yogender is a tech enthusiast with specialization in digital marketing. #table9 td:nth-of-type(3):before { content: "IRR"; } In the Estimate Future Earnings tool, you can change this input. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Posted by u/[deleted] 4 years ago. 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. $50,000 – 130,000. 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.   (-) 30.81 Lakhs     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. I’ll outline the advantages and disadvantages that you should consider. For the Current Salary of 15 lakhs (India)   Negative   2.5 Crores #table11 td:nth-of-type(3):before { content: "IRR"; } The IRR, NPV, and profit shown are for 10 years after the completion of the moratorium period when the repayment of the loan starts. You will be better off working in India than studying in Australia if you are earning around these salary denominations. Which Engineering Discipline is Right For You? Getting an I-20 form to apply for your visa. On the other, you’re investing in your future. For the Current Salary of 5 lakhs (India) 113% }   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?   (-)4.3 Lakhs   IRR 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. 101-250 Negative Profit Negative It tells you if it is worth leaving your present job to study master’s in the US, Canada, Germany, and Australia. “Don’t expect that Master’s to pay much more at first. top: 6px; The living expenses such as rent, utilities, car, fuel, insurance, food are averaged as per the country and taken from standard sources. 51-100 #table9 td:nth-of-type(1):before { content: "Profit"; } 1.1 Crores He sums up the situation concisely. But for countries such as Australia, Canada, and Germany, it only makes sense when you are earning only around 5 lakhs in India. Negative only screen and (max-width: 760px), 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. Also, would it be hard to get a job in the USA if i go to college in India?   70 Lakhs Verdict: NPV, IRR and Profit values for the salaries of 15 and 25 lakhs are highly negative. 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. #table3 td:nth-of-type(3):before { content: "IRR"; } You will be better off working in India than studying in Australia if you are earning around these salary denominations. 51-100 Nov 27, ICICI Bank Education Loan Disbursement Process An MBA at a storied institution such as Harvard or Stanford will easily run you above $60k per year. #table3 td:nth-of-type(1):before { content: "Profit"; } ← Is MS in Material Science Abroad Worth it   Is MS in Computer Science Abroad Worth it →. 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. Verdict: NPV, IRR, and Profit are on the negative side for the salaries around 15 and 25 lakhs in India. 1-50   (-) 1.33 Crores   Last Few Words There’s prestige in having a post-graduate degree, but is it worth the time, effort, and money? Master of Mechanical Engineering (MME) - Salary - Get a free salary comparison based on job title, skills, experience and education. /* Top/left values mimic padding */ The table above vividly depicts the positive values of NPV, IRR, and Profit for 10 years. It is a time-weighted measure of return, used by most financial analysts over the world. It also takes a lot more effort. Relevance. 101-250 Negative Net Present Value is used to calculate the total of all cash flows (in and out) that are directly connected to a project. Engineering seldom requires an advanced degree. display: block; The Pros. 101-250 By Jordan Friedman , Contributor April 26, …   Target College Global Rank   Now that you have a basic grasp of the assumptions, we move on to answering the original question. I don't want to be a manager, I want to be an actual engineer, so i don't need an MBA.   Negative   This is also relevant for students / young professionals who have a job offer in India. $45,000 – 89,500. 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. 1-50 Verdict: The NPV is positive and also very high for all rankings. $72,137. Georgia Tech, as it is widely known, handed out its first Master of Science in Mechanical Engineering in 1925. “The extra credential is not going to make or break your career. Due to the huge number of colleges in the US, Canada, Germany and Australia, and varying Indian salaries, we’ve created categories. NPV Find the best mechanical engineering programs for you with government statistics and … For the Current Salary of 25 lakhs (India).   IRR   Accurate, reliable salary and compensation comparisons for Australia It tells you if it is worth leaving your present job to study master’s in the US, Canada, Germany, and Australia. There are jobs that essentially require a PhD, but those are mostly R&D jobs, especially for the government and universities. 9 years ago. For Current Salary of 25 Lakhs (India) td { border: solid 1px ; } Is an engineering master’s degree worth it if I have a bachelor’s degree? 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. The table above vividly depicts the positive values of NPV, IRR, and Profit for 10 years. 251-500 #table11 td:nth-of-type(1):before { content: "Target College Global Rank"; } 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. Updated on: 02 Dec 2020 The opportunity to gain knowledge, access resources, and achieve better employment is enormous in developed countries.   The NPV is exceptionally negative. In recent years, costs for higher education have well outpaced the rate of inflation, and the MBA degree is no exception. That said, the numbers are just a guide. 1-50 Many R&D jobs in industry can still be had with only a BS. For Current Salary of 5 Lakhs (India)  As you read on, you’ll notice two more figures given next to NPV - IRR, and Profit. thead tr { /* Hide table headers (but not display: none;, for accessibility) */ Negative width: 45%; Overview. $87,335. (-) 1.54 Crores   (-) 11 Lakh  s 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. For the Current Salary of 15 lakhs (India). 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. To get a more granular answer, you can use our tool. (-) 1.61 Crores There are a few reasons why getting a master’s degree might benefit you and your mechanical engineering career: You’ll Make More Money   (-) 43 Lakhs   1-50   81 Lakhs #table8 td:nth-of-type(1):before { content: "Target College Global Rank"; } Negative IRR Is it worth getting masters degree in mechanical engineering? “It’s not a hard and fast rule, but in my experience, larger companies generally want to see a Master’s degree,” he says. For the Current Salary of 5 lakhs in India It will not be a good decision to go to Canada for higher studies in this situation. #table6 td:nth-of-type(2):before { content: "NPV"; } padding-left: 50%; Profit   #table5 td:nth-of-type(2):before { content: "NPV"; } Every alternate year, he/she gets a promotion which leads to a 10% increase in the salary. Read Also - Is studying MS in Material Science in US Worth it, For the Current Salary of 5 lakhs (India).   One of the most basic analyses for balancing out the worth of the all-mighty MBA comes down to dollars and cents. 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. 251-500 Hadick concurs. top: -9999px; #table8 td:nth-of-type(3):before { content: "IRR"; } #table2 td:nth-of-type(1):before { content: "Target College Global Rank"; } If y… 101-250 51-100 1,00,81,483 Is it worth doing a masters in mechanical engineering? Most engineering employers accept online master's degrees, but make sure the program is accredited, experts say. Fill this form and get personalized help from an admission expert 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. Bachelor's . 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. “Management and director level jobs generally want a Master’s,” he says. 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. NPV (-) 2.33 Crores 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. They are:   Target College Global Rank   #table5 td:nth-of-type(1):before { content: "Target College Global Rank"; } There is no doubt that a Master’s degree in mechanical engineering from most colleges in the USA will offer you a decent career. 88% (-) 1.4 Lakhs Negative The investment will be highly profitable.   They are: Now that you have a basic grasp of the assumptions, we move on to answering the original question. 101-250 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. 1.4 Crores 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. Profit NPV $83,000. 51-100 The final decision should be taken after considering all factors. NPV 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 … (-) 43.53 Lakhs Tax treatment: We have studied and accounted for income tax regimes of all countries in our calculations. Mechanical engineering salaries. 1.3 Crores The loan repayment term is taken to be 5 years. /* Behave like a "row" */ 47% IRR   On one hand, you’re taking on additional debt right when you want to be earning money. 1-50 #table1 td:nth-of-type(1):before { content: "Profit"; } (min-device-width: 768px) and (max-device-width: 1024px) { Label the data

Expense

  Negative   Through their Engineering Outreach program, the University of Idaho’s School of Engineering offers an affordable, online Master of Engineering in Mechanical Engineering. For India, the corresponding numbers are 7% and 20%. (-) 58 Lakhs Profit 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. 51-100 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. In our calculations, we have accounted for all standard factors and made standard assumptions. #table8 td:nth-of-type(2):before { content: "NPV"; }   Negative   For the US, Canada, Germany, and Australia, the expenses increase by 3% and for India, by 5% every year. (-) 1.31 Crores Verdict: The NPV is not only positive but also very high for all rankings. $70,554. 1.31 Crores This uncertainty is settled by nonfinancial concerns, however. Email ID “Another way to answer this value question is to look at what your goals are. 1-50 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. The average salary for a mechanical engineer is about $10,000 higher if they have that extra degree.   Target College Global Rank   55% Negative position: absolute; 26 Lakhs #table1 td:nth-of-type(3):before { content: "IRR"; } 61 Lakhs But if you get admit from a college ranking between 251 and 500, it is not a very favorable proposition as the NPV is negative. Global Rank of the College Applied to For Current Salary of 15 lakhs (India) #table10 td:nth-of-type(2):before { content: "NPV"; } The living expenses such as rent, utilities, car, fuel, insurance, food are averaged as per the country and taken from standard sources. 101-250 }   38 Lakhs Verdict: NPV, IRR and Profit values for the salaries of 15 and 25 lakhs are highly negative. The engineering program boasts an 11:1 student-to-faculty ratio. #table6 td:nth-of-type(3):before { content: "IRR"; } 1.6 Crores ASME recently conducted a survey into the value of a Master’s 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. td { border: solid 1px ; } 74% Favorite Answer. #table6 td:nth-of-type(1):before { content: "Profit"; } Profit Is a mechanical engineering Masters worth it? 1.42 Crores A mechanical engineering Master’s can help you find work, boost your career, and pay for itself. 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. Both the thesis and project options require a final oral defense for graduation. 70% But if you get admit from a college ranking between 251 and 500, it is not a very favorable proposition as the NPV is negative. Due to the huge number of colleges in the US, Canada, Germany and Australia, and varying Indian salaries, we’ve created categories. As you read on, you’ll notice two more figures given next to NPV - IRR, and Profit. Engineers tend to make a lot of money. When you start your job search, you need every advantage you can get. 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. Range. Yogender Panchal The Internal Rate of Return is the discount rate that makes the NPV of all cash flows from a particular project equal to zero. Mechanical engineering is highly specialized, so students should maintain focus while completing their curricula. 1-50 Close. 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. An online mechanical engineering master's degree leads to employment opportunities in some of the newest and most innovative industries. But for countries such as Australia, Canada, and Germany, it only makes sense when you are earning only around 5 lakhs in India. 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. (-) 1.7 Crores 101-250   1.45 Crores   Negative But it Financially Worth it to Study MS in ME Abroad? Negative But Jeffrey Glass, faculty director of Duke University’s Master of Engineering Management Program and a professor of electrical and computer engineering at the university, believes that any engineer could benefit from the degree. 58 Lakhs   Target College Global Rank   (-) 95.45 Lakhs 49% 101-250 75 Lakhs   2.42 Crores   td { border: solid 1px ; } (-)1.99 Crores For the US, Canada, Germany, and Australia, the expenses increase by 3% and for India, by 5% every year. #table2 td:nth-of-type(2):before { content: "NPV"; } (-) 1.46 Crores I'll be doing my bachelor's in India. It is the extra savings you make by choosing to study abroad and working there. left: -9999px; Today, the school’s program ranks sixth in U.S. News’ “Best Engineering Schools” for 2017.   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. It’s not an easy question. Applicants to Master in Mechanical Engineering programs must have completed a bachelor's degree … 1-50 To answer this question, we utilize our estimate future earnings tool. 251-500 (-) 2.26 Crores border-bottom: 1px solid #eee;   #table2 td:nth-of-type(3):before { content: "IRR"; } For the Current Salary of 25 lakhs (India)   (-) 1.77 Crores   You would earn and save much more by continuing to work in India. “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. The IRR, NPV, and profit shown are for 10 years after the completion of the moratorium period when the repayment of the loan starts. Every alternate year, he/she gets a promotion which leads to a 10% increase in the salary. 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.   For the Current Salary of 5 lakhs in India. The investment will be highly profitable. For the Current Salary of 15 lakhs (India) This can be in the field of Electrical Engineering, Environmental Engineering, Mechanical Engineering, and the like. In the case of the US, Canada, Germany, and Australia every year, an employee gets a 2% rise in the salary as an increment. But it Financially Worth it to Study MS in ME Abroad? Read Also - Is Studying MS in Material Science in Germany Worth it 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 loan repayment term is taken to be 5 years. 1-50 22% For India, the corresponding numbers are 7% and 20%. td { border: solid 1px ; } (-) 7.7 Lakhs The investment will be highly profitable. Note that Georgia Tech boasts the second lowest tuition in the top six programs ranked by the magazine. (-) 1.34 Crores 51-100 #table5 td:nth-of-type(3):before { content: "IRR"; } (-) 8 Lakhs (-) 2.5 Crores td:before { } The Department of Mechanical Engineering grants a Master of Science in Mechanical Engineering. Is it worth getting masters degree in mechanical engineering? Max width before this PARTICULAR table gets nasty (-) 29.83 Lakhs #table12 td:nth-of-type(1):before { content: "Target College Global Rank"; } If it’s not the subject of your choice, don’t worry. The final decision should be taken after considering all factors. Website Points: 6 Southern Methodist University's Lyle School of Engineering educates more than 1,000 graduate students every year. } Playing Volleyball, driving a car, traveling, researching new online marketing trends are some of his interest areas that keeps his rejuvenated. table, thead, tbody, th, td, tr { Profit The average salary for a mechanical engineer is about $10,000 higher if they have that extra degree. 51-100 To answer this question, we utilize our estimate future earnings tool. 51-100 Read Also - Is Studying MS in Material Science in Australia Worth it. 111% 15 Lakhs Profit The investment will be highly profitable. Profit is self-explanatory. Current Salary #table10 td:nth-of-type(1):before { content: "Target College Global Rank"; } In the coming weeks, we’ll give similar analyses for the other fields as well. 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. (-) 10 Lakhs The higher the IRR, the better is the choice for you. This approach is integrated within the program and is applicable across a range of professions, making graduates well prepared for a changing world.   1.13 Crores   Masters in engineering salary: Is a masters in engineering worth it? 94 Lakhs (-) 56 Lakhs 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. ASME recently conducted a survey into the value of a Master’s degree. 1.7 Crores Chosen Field of Study  For each target country, we will discuss four college rank groups each for three salary levels. To get a more granular answer, you can use our tool. Read Also - Is Studying MS in Material Science in Canada Worth it. #table7 td:nth-of-type(2):before { content: "NPV"; } (-) 1.5 Crores 90 Lakhs 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. 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. (-) 77.42 Lakhs   (-) 26.83 Lakhs   #table1 td:nth-of-type(2):before { content: "NPV"; } 8 Lakhs For example, in electrical engineering possible specializations might include computer engineering or robotics. 63% (-) 1.3 Crores 6% #table9 td:nth-of-type(1):before { content: "Target College Global Rank"; } For Current Salary of 5 lakhs (India)  I tackle engineering challenges in all facets of the business: research, product design and development, sourcing, and distribution.”. IRR IRR 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. 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