4 Plus 1: The Benefits of Earning Your MBA After Finishing Your Bachelor's

Deciding to pursue an MBA degree is far from an easy task. After all, there are many considerations that every prospective MBA student must take into account, from curriculum and professors to tuition costs and even hands-on learning experiences, among others. Also, if you are an undergraduate business major or recent graduate with less than one year of work experience, chances are you may ask yourself, “Is going back to school for a fifth year and earning my MBA really worth it?” Here are a few excellent reasons why current business majors and recent business graduates should return for their MBA after completing their bachelor’s degrees.

One major advantage of earning an MBA shortly after completing an undergraduate degree is that recent graduates are often unemployed or underemployed for several months – perhaps even a year or more – after graduation. Since 41.3 percent of recent college alumni were underemployed in September 2019, compared with 34 percent of all college graduates, going directly from undergraduate business studies into an MBA program and earning an additional degree can help mitigate the sting of underemployment¹. Meanwhile, if you have been unemployed for some time after finishing your bachelor’s, earning your MBA can be a more fulfilling alternative to merely posting resumes day in and day out.

While pursuing an MBA degree definitely enables students to make the most of any time they spend either unemployed or underemployed, it can also help them stand out from their peers. Because many recent graduates are discouraged by a lack of job prospects, specifically those matching their skill sets, education and experience, earning an MBA allows them to bolster their resumes by enhancing valuable skills such as leadership, teamwork and project management. Additionally, according to a 2014 report published by the Graduate Management Admission Council (GMAC), 86 percent of employers in the United States planned to hire MBA graduates that year². The same report also denotes that just 74 percent of U.S. firms planned to hire recent graduates who solely possessed a bachelor’s degree². As a result, returning to complete an MBA immediately following your undergraduate business studies can provide you with opportunities to distinguish yourself from fellow alumni and land quality jobs more quickly than individuals with a bachelor’s degree alone.

Another benefit of returning for a fifth year of college to complete an MBA is that this additional degree helps open the door to greater post-graduation earnings potential. Since the average starting salary for MBA graduates – $78,332 – is roughly 38 percent higher than the projected entry-level salary for newly minted graduates with a bachelor’s in business – $56,720 – earning an MBA after completing your bachelor’s will help you reap your return on investment more quickly³. Furthermore, since recent MBA alumni can expect as much as a 20 percent increase in immediate-year compensation rates over those with only an undergraduate degree, completing your MBA degree is an excellent way to stand out from your fellow professionals³.

Recognizing the importance of continued education for current business majors and recent graduates alike, Ramapo College’s accelerated MBA degree program provides students with the opportunity to earn a prestigious, AACSB-accredited degree and build a strong foundation for career success in as little as twelve months’ time. If you have an undergraduate business degree or are on your way to completing one, you can get ahead of the curve with our new Advanced Standing option. Since this optional component of the Ramapo MBA program eliminates 12 credits’ worth of foundational coursework, you will need only 30 credits to complete your degree. After all, less time spent in the classroom only means more time to apply the skills and concepts you’ve learned to accelerate your real-world business career, be it in accounting, finance, management, marketing or whichever field you so desire.

Ramapo also acknowledges that students returning for an MBA after completing their undergraduate studies must often balance their education with one or more additional commitments, such as a full-time job. With our flexible course scheduling, including an online learning component, you can earn your degree while searching for a new job or working in your current one. Additionally, we offer a variety of financial aid options to help make your tuition costs more manageable. 

Current undergraduate business students or recent graduates interested in learning more about Ramapo’s accelerated MBA program are strongly encouraged to visit https://www.ramapo.edu/mba/ for more information.

¹Source: Federal Reserve Bank of New York – “The Labor Market for Recent College Graduates.” Retrieved from https://www.newyorkfed.org/research/college-labor-market/college-labor-market_underemployment_rates.html.

²Source: Graduate Management Admission Council – “More Employers Plan to Hire MBAs and Other Business School Graduates”. Retrieved from https://www.gmac.com/news-center/gmac-press-releases/more-employers-plan-to-hire-mbas-and-other-business-school-graduates.

³Source: U.S. News & World Report – “MBAs Offer More Advantages Than Undergrad Business Majors” by Farran Powell. Retrieved from https://www.usnews.com/education/best-graduate-schools/top-business-schools/applying/articles/2018-03-21/mbas-offer-more-advantages-than-undergrad-business-majors.

Categories: MBA