Step 1: Prevailing wage determination
Your lawyer will request the prevailing wage from Department of Labor. In other words, finding out what the salary is for your position in the area.
It takes anywhere from 30 days to 60 days (1-2 months)

Step 2:
Classified advertisement in the newspaper and other websites to prove that there're no qualified americans for your job which takes about 2 months then filing PERM (about 6 months-12 months)

Timeline: Anywhere from 3 months to 6 months, if there's audit 6-12 months.

Step 3:

Filing I-140 by employer. It can be done premium which takes 15 days, regular process can take from 2-3 months.

Step 4:
Waiting for your Priority date to be current to file Adjustment of status (I-485), last stage. Since you're EB3, check the visa bulltein by USCIS regulary. Right now the cut-off time is 22 Jul 2006 for Rest of the world (ROW). So the wait time is around 6 Years. 

So if it stays the same way, you'll get your Green Card in : 2019 !

Good Luck.

Suggestion: Better to do your Master's then file under Eb2 which is lot faster even though the cut-off date for Eb2 shows 01 jan 2009, it will most likely be current after October 1 ,2012

Employment- Based	All Chargeability Areas Except Those Listed	CHINA- mainland born	INDIA	MEXICO	PHILIPPINES
1st	C	C	C	C	C
2nd	01JAN09	U	U	01JAN09	01JAN09
3rd	22JUL06	22SEP05	22SEP02	22JUL06	08JUN06