Should you study abroad in 2024? Is it worth it for Indian students?

Summary

The video script discusses the decision-making process for Indian students considering pursuing their undergraduate or postgraduate degrees abroad by 2024. It highlights the importance of evaluating job market scenarios, global economic conditions, and the potential challenges of finding employment post-graduation, especially in countries like the US, Canada, Australia, and the UK. The speaker emphasizes the significance of choosing reputed colleges, understanding the tier system, and considering personal financial situations and interests before making the decision to study overseas.

Takeaways

• 📚 In 2023, approximately 1.3 million students from India went abroad for their education, mainly for master's and bachelor's degrees.
• 🌍 The majority of Indian students go to the US, Canada, Australia, and the UK for higher education.
• 🔍 Considering studying abroad in 2024 requires evaluating job market scenarios and global economic conditions, such as the recent recession in some countries.
• 💼 The discussion emphasizes the importance of career prospects as the primary goal for students pursuing education abroad.
• 📉 Recession impacts the economy, leading to fewer job opportunities and increased unemployment in affected countries.
• 🇨🇦 Canada has touched upon recession-like conditions in 2023, affecting the job market and living costs for students.
• 🇦🇺 Australia has seen border reopenings but has not officially entered a recession, although internal reports suggest increased migration and population growth.
• 🇺🇸 The US has avoided recession in 2023, but interest rates have increased, affecting the dollar's strength and potentially leading to hiring freezes or decreases.
• 🇮🇳 India's demographic dividend and increasing working-age population present both challenges and opportunities in the job market.
• 🏫 The tier system in India's colleges affects students' perceptions and opportunities, with a preference for reputed institutions.
• 🎓 The script advises students to consider their interests, financial situation, and the reputation of the target colleges when deciding to study abroad.

Q & A

What is the main topic of discussion in the provided script?

The main topic of discussion is whether students should pursue their undergraduate or postgraduate education abroad by 2024, and what factors to consider if they decide to go for higher education outside India.

How many students went abroad for education from India in 2023 according to the script?

According to the script, a total of 13 lakh students went abroad for education from India in 2023.

What are the major countries where Indian students prefer to go for higher studies?

The major countries where Indian students prefer to go for higher studies are the USA, Canada, Australia, and the UK.

What economic term is frequently mentioned in the script that is affecting the global job market?

The economic term frequently mentioned in the script is 'recession,' which is affecting the global job market.

What does the script suggest about the job market in the UK and Japan?

The script suggests that the UK and Japan have officially entered a recession, which typically leads to a slow economy, fewer jobs, and higher unemployment rates.

What challenges are Indian students facing in finding jobs after their post-graduation or graduation in countries like Canada?

Indian students in Canada are facing difficulties in finding jobs due to recession-like conditions, high living costs, and increased competition.

What is the situation with the Australian economy as mentioned in the script?

The script mentions that Australia has touched the border of recession but has not officially entered it yet. However, there are concerns about high immigration and population increase affecting the job market.

How have interest rates and the strong dollar affected the job market in the USA according to the script?

The script states that increased interest rates in the USA have led companies to tighten their budgets and reduce hiring, which affects the job market.

What demographic dividend does India have that could impact the job market?

India has a growing young working population, which increases the workforce but also creates challenges for job availability and economic growth.

What is the script's advice for students considering studying in a reputed foreign college?

The script advises students to focus on getting into reputed colleges, as it increases their chances of getting interviews and jobs due to better recognition and alumni networks.

What is the script's stance on students going abroad for education without a genuine interest in the field of study?

The script discourages students from going abroad for education without a genuine interest in their field of study, as it could lead to difficulties in finding a job and financial stress.

What factors should students consider before deciding to study abroad according to the script?

Students should consider factors such as the reputation of the college, their genuine interest in the field of study, financial situation, and the potential for job opportunities after graduation.