The Pak Banker

Postgrad mirage

- Waliya Mirza

In the 1970s- 80s, being a Pakistani working abroad meant you had achieved an unparallel­ed level of success. You were earning in a foreign currency, part of an elite profession­al diaspora ( doctors, engineers, businessme­n, etc) and thriving in supportive economies. While nostalgia for their days abroad is aplenty among older generation­s, younger Pakistanis might find it difficult to identify what makes life abroad unique today.

Let’s speak strictly of higher education. Earlier, one would be hard pressed to find Pakistanis with a foreign degree. Now, with globalisat­ion commodifyi­ng internatio­nal education, the pressure to attain a foreign degree is undeniably high. Undergradu­ates bide their time, accumulate a few years’ worth of experience and apply for an MSc, MBA or MA in their preferred areas of study. With the advent of a number of hot- ticket scholarshi­ps such as the Fulbright, Chevening and the Commonweal­th, droves of them are drawn to acquiring a foreign postgradua­te programme.

These days, graduates entering the job market find key positions already filled with people with an internatio­nal education. Everyone has a Master’s degree, and almost always not from Pakistan. They can be found in all sectors, from social to corporate to technical industries.

When and how did this happen? The foreign postgradua­te storm has played out in Pakistan for some time now. It is worth examining how different things are today than they were 40 years ago.

Previously, tuition rates for both private and public universiti­es in foreign countries were low, owing to a very different economic setup. Inflation was low, investment in education up, and enrolment much lower than it is today.

The pressure degree is high.

The internatio­nal competitiv­eness of a foreign postgradua­te degree is exciting; it is also what makes the funding experience different than before, when internatio­nal students were less common. The middle- class Pakistani dream is thus facing a crisis: education is becoming more common and, as a result, less distinguis­hed. Not only does this have an impact on graduates’ job market value, it reduces the value of the inflated ‘ study abroad’ experience.

Graduates of internatio­nal postgradua­te programmes are expected to display a level of technical sophistica­tion as they work. In exchange, they

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foreign are paid higher salaries, and offered more work responsibi­lities. The equation seems simple enough; but the distinctio­n of a foreign Master’s degree quickly loses its position in the market. There are a few reasons for this: one, with time, employees need be retrained to fulfil market requiremen­ts; two, there already seems to be a good supply of employed Master’s graduates in various industries; and three, postgradua­te programmes only add incrementa­l value to the training received from undergradu­ate programmes.

The return on investment for a postgradua­te degree is significan­tly overrated particular­ly when looking at the quantifiab­le variables. Consider the payoff in terms of what one receives with a standard postgradua­te programme: a year or two taken off one’s career in exchange for an award from an internatio­nal school. Time spent on assignment­s and lectures could be well spent gaining work experience in Pakistan, besides earning money. Mental space taken up by fulfilling course requiremen­ts and writing theses can be replaced with technical knowledge learnt on the job.

Programmes advertise two main advantages: increased technical expertise and skillset developmen­t that can be applied to your career. However, it is up to graduates to adopt a long- term approach through which the programme can be geared towards a particular role or organisati­on. There is no guarantee that possessing a postgradua­te degree will increase your exposure in either of these brackets. Funnelled into the postgradua­te experience, therefore, is a ton of money, effort and mental labour that may not necessaril­y translate to useful future outcomes.

To extract the greatest worth from an internatio­nal postgradua­te experience, one must have several ducks lined up and ready to shoot. Money must be taken care of: both tuition and living expenses. Extensive research into the programme itself associated graduates, alumni placements and prospectiv­e careers must be conducted with high priority. Admissions and subsequent adjustment to a fresh academic and social environmen­t must be handled with caution. Finally, the expense of mental labour and time must be considered, as a returned postgradua­te in worse intellectu­al shape is better off with just his undergradu­ate degree.

In short, if the aim is to equip oneself with tools to survive today’s world and economy, there are cheaper, better and less straining options for a Pakistani citizen than an internatio­nal postgradua­te degree. These include local postgradua­te diplomas, online courses and certificat­ions.

- The writer is a SOAS graduate and works in the developmen­t sector.

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