HYDERABAD: While the lure of an overseas Degree is far from fading away, the struggle of breaking into the local job market has come to hit many Indian students pursuing higher education in foreign universities. They admit that the challenge has got tougher now, owing to the looming recession and news of layoffs hitting the headlines almost daily.
“Despite graduating from a reputed institution, I am struggling to find work in my area of study,” said a student who completed his master’s degree in corporate finance from Hult International Business School in Boston, last year. Frustrated, he has now taken up a call-centre job. He also has a part-time job based on his optional practical training (OPT) to make ends meet.
VISA SPONSORSHIP HUNT TURNS SOUR
OPT allows eligible students in the US to apply for up to 12 months of employment authorisation, with the possibility of a 24-month extension. Post that, they need an H1B to continue working in the US, which must be sponsored by a company. Even if an employer sponsors the H-1B visa, there is no guarantee of its approval.
“But given the slowdown, companies are pulling back on their purse strings and are not willing to sponsor visas, making it even more difficult for us to get jobs,” said Jimmy Lalani, who has a master’s degree in computer science from the University of Alabama. “My interview went well but in the end they asked me if I needed sponsorship. I did not get the job,” said Lalani who is now working in a multi-purpose store. Each of these students paid between ₹30 lakh and ₹40 lakh for their courses.
Inneighbouring Canada, V Sai Saketh is also stuck in a similar situation. Despite a master’s degree in project management, he is forced to work as a sales executive to repay his education loan. “I am holding on only because the money is good, and I have a loan to clear. Going back to India is not an option at the moment. I will wait to see if some opportunity in my field opens eventually. ”
RECESSION CRUSHED DREAMS OF MANY
The same predicament holds true for international students in the United Kingdom. A student who completed a master’s degree in statistics and data science from the University of Roehampton in 2022, had to return to India after a company revoked his offer letter.
“I was offered £25,000 annually, but when recession hit and the company stalled my joining,” said the student, who is now working as a data scientist in India for an annual salary of ₹8 lakh. “The market is not conducive for jobs at the moment. A majority of my friends are still looking for suitable employment while doing odd jobs. I went therewith huge expectations. Even these consultancies had painted a rosy picture of finding employment. Little did I know, things will go downhill like this,” added the student.
The recession, coupled with the wait for visa has left those like Shirley Dasari, a recent master’s gra duate in Information Technology from the University of Greenwich stranded in British land. “Not only am I finding it difficult to land a job in this recessionary market, but my post-study work (PSW) visa also has not arrived. Given the layoffs and recession in the country, it will be challenging to find a job relevant to what I studied for,” added Dasari. PSW allows internatio nal students to stay in the UK for two or three years after completing their studies.
MORE OPPORTUNITIES IN STEM COURSES
While consultancies admit to the job market abroad being slow, they maintain that those with STEM degrees are never out of opportunities.
Consultant Sanjeev Rai shared the factors driving students to still move abroad amid known challenges. “Indians are allured by STEM courses, and compared to India, foreign countries present fewer job market competitors for these fields, therefore chances of Indians getting a job is always higher. However, it cannot be ignored that there is a scarcity of jobs abroad, butit is also worth noting that fetching a job is difficult but not impossible. ”
According to Chirandeep Pattnaik, director of another consultancy, “Studying abroad is not a magic wand. It is important for international students to build their network. This can be done through several ways. They must be in constant touch with their professors, who are industry professionals. They should seek internships and courses during breaks to upgrade their skills. They should make a repository of their assignments. All such engagements aid students to find suitable employment, added Pattnaik.