Should You Do A Business Master’s Straight After Your Undergrad?

Sponsored by EGADE Business School at Tecnológico de Monterrey

If you’re about to start your final year as an undergraduate student, you might be wondering what’s next. Graduate job applications? Postgraduate study applications? A gap year?

The options seem almost endless and it can be difficult to know what to consider first. But if you’re considering studying a master’s right after your undergraduate degree, there are a few things to think about before you make your final decision.

Are you passionate about the subject?

If there was a topic in your undergraduate degree which you found particularly fascinating, a master’s degree can let you explore it in greater detail and depth. Being passionate about what you study is a driver in itself when it comes to the motivation and determination needed to commit to at least a year’s worth of full-time study with a master’s.

Are you ready to commit to another year of full-time study?

Stepping straight back into university or business school after graduating might not be for everyone – but it isn’t uncommon to do so. 

While master’s degrees are renowned for their rigorous curriculums, it’s likely you’re still in ‘student mode’, and it can feel natural to keep up with the studies and power through for at least one more year (depending on the program format).

Do your career goals align with the master’s you’re interested in?

Long-term planning is key. Defining your career goals and setting realistic expectations can help make the decision about whether to do a master’s a lot easier.

For some jobs and career paths, a master’s is essential, while for others it’s simply beneficial. However,  make sure you take the time to research the program and the institution offering it.

On the other hand, you might be coming to the end of your undergraduate degree and you’ve realized it wasn’t quite the right degree for you, or your chosen career path has changed since you selected an undergraduate degree.

This is when studying a master’s right after your undergraduate degree is the ideal time, as you’ll develop the specialist skillset and comprehensive understanding of a field which you do have a genuine interest in, and enter the job market with a competitive advantage.

Do you have relevant work experience to apply for one?

For many master’s degrees – particularly those of a more vocational nature, such as business – relevant work experience is usually a requirement. But this can seem like an impossible requirement if you want to take the leap from undergraduate straight to postgraduate – where are you supposed to find the time to gain such experience?

It can feel like a real catch-22, but there are master’s degrees where experience isn’t necessary – and the Master in Business Management at EGADE Business School is one of them. To study the Master in Business Management, all you need is a relevant undergraduate degree, proven English language proficiency, and a keen interest in jump starting your career in the business landscape.

Will it improve your future career prospects?

In the wake of the coronavirus pandemic, competition for jobs is fierce, resulting in a significant rise in applications to business school and university. Keep in mind, the current situation is a very fast-moving one, and what might be relevant now might not be in months to come. 

In general, having a second degree on your CV is highly regarded by employers as it’s a good demonstration of your willingness, dedication and drive. What’s more, the US Bureau of Labor Statistics has shown that those with a master’s have higher salaries than those without.

If you do decide to study a master’s right after your undergraduate degree, you won’t have the relevant professional work experience to accompany you after you graduate for the second time. So be mindful to look for a master’s which does offer practical, hands-on learning experiences – such as the Master in Business Management at EGADE.

Is it a highly-rated qualification in the industry?

Accreditations and rankings can help you decipher which master’s is right for you and your career ambitions. EGADE Business School in Mexico, is one of the top one percent of business schools to hold the 'triple crown' accreditation.

If working in business - or a business-related area such as finance, marketing, management, or sales - you’ll want to make sure both you and your CV stand out from the crowd – and a highly-rated qualification can help with that.

But remember – while a master’s can improve employment prospects and help you enter a particular profession to an extent, it can’t guarantee a job or significant pay rise.

Are you able to financially support yourself?

Master’s degrees are renowned for their hefty-price tags, and going from undergraduate to postgraduate doesn’t leave much time for finding a job and putting money in the bank.

However, scholarships and grants are available, among other forms of financial aid, so be sure to do your research and have a look at what’s available. EGADE Business School offers a number of scholarships of up to 40 percent for international students, women in leadership, and academic merit.

Make sure you’re doing it for the right reasons

You’ll want to weigh up your options carefully, but be keep in mind that there will be some ‘time-sensitive’ matters when it comes to application deadlines and submitting test scores.

Choosing whether to study a master’s straight after your undergraduate degree is a personal decision – and one thing to keep in mind is that there’s no ‘perfect’ answer. Only you can decide what’s right for you.

Lead image credit: Jasmine Coro on Unsplash