We often get questions on our youtube channel which is the best course to choose in what university and in what country. There are a lot of different variables to consider and comparing one course with another is difficult and time consuming. Instead we have tried to come up with a means of scoring courses across countries in a meaningful way.
- One of the purposes of DubJobs is to help people find a job. We will assume you want to study solely to find a job and earn money.
- We will assume a standard cost of living based on each city.
- You need to borrow any money to pay for the course at 10%
- Probability of finding a job and keeping a job for 5 years will be 1 – (unemployment rate x 2 + 1-university ranking score)
- University ranking score = (10 – (higher of country / industry rank)-1)/10 * Importance of formal education. eg university ranking 1 scores 1, university 2nd scores 0.9, 3rd 0.8 etc. Min 0 max 1.
- Importance of formal education. For some industries such as tech, formal education is not important. Therefore, for these industries we need to bring up the university score as it doesn’t influence the probability of finding a job. This score will be inverse, meaning the more important formal education the lower will be the score.
- We will assume you have at least 1 year of work experience prior to starting your course in your home country.
We will rank courses based on how much money we expect you could save over 5 years in euro. This will be based on your salary, less taxes and less the cost of living x probability of finding a job. Numeric rankings will be in euro thousands. The start date will be the date you start studying. So a course with a score of 20 means from 5 years after you start your course you can expect to save €20,000 euro.
Why this method?
- It’s easy to understand.
- It makes course around the world easily comparable.
- It takes into account taxes.
- It takes into account the salary you can expect to receive when you finish your course.
- It takes into account the time to complete the course and the money you can earn during this period.
- It takes into account the cost of living.
- It takes into account unemployment rates in the local country and the probability of finding job.
- It takes into account university rankings when applicable.
- It takes into account which industries put importance on formal education and those that don’t.