About Master’s degree abroad
Every year, the number of students who go abroad to pursue a Master’s degree is growing. According to the Economic Times, approximately 750,000 Indian students left the country to study abroad in 2022. The major reasons behind this were the prospects of better education and lucrative careers.
If you also plan to study in a top university in popular destinations like the USA, UK, Canada, and Australia, this guide is for you. In this guide, we’ll walk you through the top countries, programs, eligibility criteria, scholarships, and career scope of Master’s programs, so that you can make the right decision.
Top countries to study a Master’s abroad
The best countries to study abroad are ranked based on the availability of top-ranked universities, cost of tuition and living, work opportunities, cultural diversity, and safety.
We have ranked the top 10 countries based on how many universities from these nations appear in the list of the top 100 institutes ranked by QS World University Rankings 2025. These countries are:
- USA
- UK
- Switzerland
- Australia
- China
- Singapore
- France
- Canada
- Germany
- South Korea
Next, let’s look at some of the top universities from these countries.
Top universities in the world for a Master’s degree
Here’s a list of the top 10 universities as ranked by QS World University Ranking for 2025:
| University Name | Country |
| Massachusetts Institute of Technology | United States |
| Imperial College London | United Kingdom |
| University of Oxford | United Kingdom |
| Harvard University | United States |
| University of Cambridge | United Kingdom |
| Stanford University | United States |
| ETH Zurich | Switzerland |
| National University of Singapore | Singapore |
| University College London | United Kingdom |
| California Institute of Technology | United States |
Top Master’s courses
Choosing the right country and university for your Master’s program is crucial for your career. Here’s a look at some of the top universities offering Master’s courses in various streams across different countries.
| Stream | Country | Top Universities |
| Engineering | USA | Massachusetts Institute of Technology (MIT), Stanford University |
| Germany | Technical University of Munich (TUM), RWTH Aachen University | |
| Business Administration | UK | London Business School, University of Oxford (Saïd Business School) |
| France | INSEAD, HEC Paris | |
| Computer Science | USA | Stanford University, University of California (Berkeley) |
| Canada | University of Toronto, University of British Columbia | |
| Healthcare | Australia | University of Melbourne, University of Sydney |
| Singapore | National University of Singapore (NUS), Nanyang Technological University (NTU) | |
| Finance | USA | Harvard University, University of Chicago (Booth School of Business) |
| UK | London School of Economics (LSE), University of Cambridge |
How to choose the best Master’s program
Pursuing a Master’s abroad is a big commitment. So you need to make sure you’re choosing the right program. You can do this by narrowing down the programs based on criteria most important to you. Here are some of the criteria you can use:
Career prospects
Before you shortlist any specific program to study, research its career prospects. To do this, you will need information about employment rates for the program’s graduates, the industries that hire graduates from the program, the job roles the graduates are hired for, and starting salaries for those roles. This will give you an overall idea of the ROI you can expect from the program.
University reputation
The university’s reputation plays a huge role in determining the career outcomes you can expect from your Master’s abroad. Consider the university’s ranking in your field of study, instead of its overall ranking. Try to find out more about the networking opportunities you can get to connect with the industry during your program. This can be a crucial factor that influences the internship and job opportunities you will get.
Research opportunities
If you wish to build a career in research, then check whether the university has advanced research facilities with the latest equipment. Choosing a program with a strong research scope can help you land R&D roles in top research institutions.
Curriculum
The academic focus of the program that you are about to choose must align with your career goals. Look into the program’s specializations and electives to see whether they prepare you for the job roles you want.
Fees and funding options
A Master’s degree abroad can be expensive, especially for Indian students. The tuition fees, along with living expenses, can add up to a significant amount. Therefore, consider universities that offer scholarships and funding options to help manage these costs.
Many top universities provide merit-based and need-based scholarships that can cover a portion or even the entirety of your tuition fees. Additionally, students can explore opportunities to work part-time in roles such as Teaching Assistant (TA) or Research Assistant (RA). These positions also provide valuable work experience and enhance your resume.
You will find that even if you filter out the programs based on these factors, you will still have dozens of options. This can often be overwhelming, as beyond a level, students can’t compare institutes and programs objectively. Because of this, many students end up in programs that are not ideal for them. That’s where SelecRight proves to be a game-changer by helping you choose your best university based on data rather than mere opinion.
Here’s how SelectRight works.
- Simply register on SelectRight by providing all your personal information, including your preferences, such as the program you are interested in pursuing, the program’s location, the fee range you’re looking for, etc.
- Once you register, the AI algorithm powering SelectRight considers over 40,000 programs in its database and matches you with the top programs that fit your criteria.
- Compare your shortlisted universities based on advanced criteria such as placement records, alumni network, tuition fee, fundability of the program, availability of scholarships, etc.
- You can also get personalized help from an advisor who will help compare your shortlisted universities.
- With SelectRight, you can connect with alums, faculty, and peers applying to the same university before entering the classroom.
Targeting Spring ‘25 admissions? Then now is the perfect time to create your profile on SelectRight.
Eligibility for studying a Master’s program abroad
The eligibility criteria for studying a Master’s abroad vary by university, location, and program. For example, many universities in the USA do not require GRE or GMAT test scores, while universities in Germany and Australia may require them.
However, a few eligibility criteria must be satisfied by students who wish to pursue a Master’s degree abroad, irrespective of the country, university, or degree options. They are:
- An undergraduate degree
- Language proficiency test scores
Apart from these, you must also submit:
- Two or three letters of recommendation from professors or employers
- Statement of Purpose
- Official transcripts
- Work experience portfolio (if any)
Now, let us look into the specifics of the GRE and GMAT requirements for studying for a Master’s abroad.
GMAT/GRE requirements for studying a Master’s program abroad
Many universities abroad require GRE and GMAT scores for engineering and business programs.
GMAT is meant for students applying for business graduate programs or other management-related Master’s degrees.
The GRE is a versatile test accepted by various tech graduate programs, including those in science, humanities, and engineering. However, many universities in the United States have recently waived the requirement for this test. Even top universities like MIT and Georgia Institute of Technology do not require a GRE score as an eligibility criterion for the Master’s program anymore.
Scholarships to study a Master’s program abroad
Scholarships play a vital role in reducing the financial burden for students pursuing a Master’s program abroad. We have listed down various scholarships that are available for Indian students:
Government funded scholarships
- Fulbright Nehru Master’s Fellowship
- Commonwealth Scholarship
- DAAD scholarship
Private Scholarships
- Inlak Foundation Scholarship
- Tata Scholarship
- Ritchie-Jennings Memorial Scholarship
International Scholarships
- The Fulbright Foreign Student Program
- Aga Khan Foundation International Scholarship Programme
- International Peace Scholarship
While these scholarships can significantly reduce tuition costs, they are highly competitive and cover only a part of the total expenses. Students often still need to secure education loans to cover the remaining costs, including living expenses, travel, and other overheads associated with pursuing a Master’s degree abroad.
That’s where educational loans can come to the rescue. Let us look into different study-abroad loans.
Education loans for pursuing a Master’s program abroad
Unlike scholarships or financial assistantships, education loans cover every aspect of your finances abroad, such as tuition fees, admission fees, program fees (if any), living costs, accommodation costs, and even travel expenses.
Several public and private banks provide educational loans for students to study abroad. Some notable examples include public banks like SBI and Bank of Baroda and private banks such as HDFC, ICICI, Axis, and IDFC Bank.
However, securing an education loan can be a complex and time-consuming process. Students often struggle to compare different loan products and end up applying to only a few lenders due to limited time and resources. This means they may not get the best possible loan terms available to them.
This is where FundRight steps in to make your educational loan availing process easier and seamless.
What is FundRight?
FundRight is a platform where top banks and NBFCs bid on your loan requirements and give you the most competitive offers. Here’s how FundRight works:
- Set up your profile on FundRight by providing your personal and financial information.
- Within 2 days, you will get competitive loan offers from 15 banks and NBFCs.
- You can also seek personalized help from a financial advisor who can help you compare different offers and help you select the best deal.
- Once you select the best offer, you can submit all the required documents.
- After submitting, you can get your loan approval in as little as 10 days.
As the Spring ‘25 intake is around the corner, now is the best time to create your FundRight profile and get the right study abroad loan.
Career scope of studying a Master’s abroad
The career scope of pursuing a Master’s program at a top university is impressive. A good evidence for this is that number of students moving abroad to pursue a Master’s has increased by 20% from 2022 to 2024.
Countries like the USA, Australia, Canada, and the UK offer a balance of latest curricula, cutting-edge research facilities, and good career outcomes that can be life-changing for students. Graduates from this program can secure high paying jobs in fields such as finance, information technology, engineering, etc. For example, the average salary for a graduate from technical programs like engineering and IT can be $155,000 and $118,000 respectively, per year.
Overall, a Master’s degree from a good university abroad can be very valuable for students because of the rise in job roles for candidates with such academic profiles. For instance, in the USA, the technology sector has seen an average annual growth rate of 10% over the past five years, while the healthcare industry has grown by 8% annually. These growth rates indicate a robust demand for skilled professionals.
Studying abroad also means learning in a multicultural environment. This exposure helps you develop a global perspective and hone your problem-solving skills. These abilities make you an invaluable asset to companies worldwide.
Benefits of studying a Master’s abroad
Studying abroad offers numerous benefits, including exposure to new cultures, personal growth, and gaining a global perspective. A Master’s program abroad provides practical education taught by multi-disciplinary faculties at top universities. Here’s a list of benefits of studying abroad:
- It sets you up for multiple international careers abroad.
- It’ll help you connect and foster relationships with notable alumni.
- Becoming eligible for international career opportunities.
- Access advanced specialized careers in tech and join global networking events.
- Learning from world-class faculty with internationally published works.
We hope this guide has been helpful. Now, let’s look at some of the FAQs related to studying abroad for a Master’s degree for international students.
FAQs
What key factors should you consider before choosing a country to study abroad?
Before choosing a country to study abroad, you should consider factors like university rankings, tuition and living costs, part-time and post-study employment opportunities, cultural diversity, overall safety, and quality of life.
What are some common scholarships available for Indian students pursuing a Master’s degree abroad?
There are many scholarships for Indian students who are studying graduate programs abroad. Some of these are Fulbright-Nehru Master’s Fellowships (USA), Chevening Scholarships (UK), Erasmus Mundus Scholarships (EU), Australia Awards Scholarships, and the DAAD Scholarships (Germany). These scholarships often cover tuition fees, living expenses, and travel costs.
What type of Master’s programs are most popular among Indian students studying abroad?
Indian students often pursue graduate programs in engineering and business administration, computer science, data science, finance, healthcare, and international relations. These fields have greater career prospects worldwide, including India, making them valuable in India. The developing industries in India also demand these skilled professionals.
What are the common admission requirements for Master’s programs at top universities abroad?
You must have an undergraduate degree, a good academic record, standardized test scores (GRE, GMAT), language proficiency scores (TOEFL, IELTS), and sometimes work experience, which is mostly required for MBA programs.
