After he completed the programme, in about nine months, he applied for New Zealand’s post-study work visa, which is given for a period of three years after obtaining a graduate or postgraduate degree from a New Zealand university.
From student to permanent resident
Thyagaraj was previously employed with Accenture Plc. in India, which helped him land a job in New Zealand shortly after graduation. This allowed him to transition from his post-study work visa to a residency visa that came with employment in the country.
The residency visa category expired after 2022 (its closest equivalent currently is the skilled migrant category visa). After two years on the residency visa, Thyagaraj applied for and got a permanent residency visa (similar to the US’s green card).
“Life in New Zealand is quiet, comfortable, and organised. The flip side for Indian students is the very small job market here,” he said.
“You can get a job in a few sectors like logistics, IT and farming, but it’s a very small market. For instance, the company I used to work for in India has a New Zealand office with just one-tenth the staff. You may not see fast career growth from a small market like this one,” he added.
Cost of studying in New Zealand
Thyagaraj, who secured a ₹3 lakh scholarship, paid about 40,000 New Zealand dollars in tuition fee and spent another 10,000 NZD on living expenses and rent as a student, adding up to about ₹26 lakh.
He estimated that a student would have to spend about ₹40 lakh today on fees for a similar course, accommodation, and living expenses.
However, students can take up part-time work to offset some of the costs.
International students in New Zealand are permitted to work part-time for up to 20 hours per week. At a minimum wage of 23 NZD per hour, a student can earn up to 1,800 NZD per week (pre-tax), or about ₹93,000.
According to financial services firm Zinc Money, for students pursuing postgraduate STEM (science, technology, engineering, and mathematics) or management programmes in New Zealand, the average tuition fee is about $23,000 per year, or about 39,000 NZD.
Visas and immigration
After graduating from a New Zealand university, students become eligible for a 3-year post-study work visa. From this, they can transition to the migrant category visa category, which generally requires six eligibility points.
Students graduating from a New Zealand university get four points, or five points for a Master’s degree. The balance points can be earned by working in New Zealand for 1-2 years on the post-study work visa.
After 2 years in the skilled migrant visa category, individuals can apply for permanent residency in New Zealand.
Salaries and expenses
Thyagaraj estimated annual starting salaries in the information technology sector or similar white-collar employment to be in the 50,000-55,000 NZD range ( ₹26-28 lakh), rising to 200,000 NZD (about ₹1 crore) in a few years. New Zealand’s highest tax rate of 33% for salaried employees kicks in at a salary of 78,000 NZD.
Thyagaraj currently pays about 2,000 NZD in monthly rent for a 2-bedroom apartment, which he shares with his wife and brother-in-law. Monthly expenses claim another 3,500-4,000 NZD. Healthcare is free, but comes with significant waiting to get treatment, he adds.
Thyagaraj invests his savings in US index funds as well as fixed and recurring deposits in New Zealand and India. He has also bought real estate in Coimbatore, his native city in India. Buying a house in New Zealand is expensive, he said, with an average 2-bedroom apartment costing the equivalent of about ₹4 crore.
