Getting a college degree is a very important investment for both students and parents. People generally measure this by checking the amount invested, i.e. fees against the package that they get after two years of their MBA education. Getting a job with a much lesser package than the amount invested can result into a negative ROI. The threat of global economic downfall is growing and the student's debts are increasing at a higher rate. Selecting the right higher education is important but more important is to look forward to calculating the ROI.
For many, higher education earns a good return, but this is not the same for all the students. The return on investment in education can be based on factors like the duration of course, completion of certification, job opportunities, job profile, getting a lucrative salary, economic conditions, demographic background of the students, etc. The best way to consider for a college and narrow down on the university is by comparing the tuition fee of the college with the average package that a student gets.
What is Return on Investment when it comes to higher education?
Selection of right college and the right programme is of utmost importance. The basis to finalize a degree program depends on a lot of factors:
As an individual, people look forward to job security, growth opportunity, monetary benefits, and job satisfaction. Over the decades, there has been a huge increase in the number of universities and the education choices that a student has. An estimated 5.53 lakh Indian students are studying abroad in 86 countries as per government data. This shows that going abroad is a preferred option amongst Indian students for higher education. But do these students really check for the ROI before opting for a foreign degree?
The surest way to get the best return on your investment is to work for reputed organizations, be it a startup or an MNC. Enrolling yourself in a reputed college can ensure a good package along with an accelerated growth for your future.
How to Calculate the ROI for Higher Education?
The return on investment can be calculated based on 5 crucial factors:
Why Opt for An ROI Based Higher Education?
To sum up it can be said that return on Investment in higher education can be considered to be the expected gains after education, in terms of salary, job stability, professional growth, opportunities for self-employment and undertaking entrepreneurial initiatives, etc. All this calls for careful understanding of the educational scenario, right selection of an educational program and entering into a good college imparting quality education.