Is there a “right time” for you to pursue a full-time MBA? 

The answer for many college seniors or recent college graduates students is unquestionably “Yes, and the right time is now,” especially if they haven’t majored in business.

That’s not to say that corporate recruiters don’t appreciate the value of a quality education in the liberal arts. But the fact is that most organizations are looking for employees who can hit the ground running and make an immediate contribution. This fact has been documented by a variety of preparedness surveys as of late. Even if you do have an undergraduate business degree, an MBA will give you greater knowledge and expertise in areas involving leadership and problem solving. Some MBA programs also allow students with undergraduate business degrees to “waive out” of core courses and substitute more advanced electives to enhance their specialization.

There are a variety of reasons to get your MBA early in your career:

1. Focus your ambition: You can devote your time entirely to launching your career, rather than having to squeeze professional development into the day-to-day job routine. In graduate school, professionals whose job it is to produce highly competent, sought-after graduates will guide your development.
2. Test the waters: You can gain hands-on experience through programs that bring corporations into the classroom. While not all programs offer this, the best include them to integrate theory and practice. The huge benefit here is that you’re exposed to industries, problems and team roles before making a commitment to a full-time position in any one area. You’re able to learn about your own strengths and weaknesses, likes and dislikes — all of which factor into a happy and prosperous career.  
3. Make a statement: You have an advanced degree before most of the pack, a credential that tells employers a lot about your drive, your dedication, and your value as an employee.
4. Specialize in a hot industry: You can often gain industry or disciplinary specialization, either formally or informally. In addition to getting your MBA, you can tailor your focus to something taking off in the market right now. Some MBAs specialize in high-tech or health care, for example. Others offer the opportunity for concentrations in areas such as business analytics or financial markets.
5. Build tech skills: Whether it’s financial modelling or inbound content marketing, the rapid pace of change in the business world is creating unprecedented high demand for those who can leverage productivity through technology.
6. Make more money, earlier: You can demand a higher starting salary or a better salary than you likely would have had slowly climbing the ranks from your current role.  
7. Get a quick return on investment: The Graduate Management Admission Council conducted a survey in 2012 that found that MBA grads typically recoup one-third of their investment immediately upon graduation, and 100 percent within four years.

There are many good reasons for recent college graduates to pursue an MBA. But obviously it’s not a decision to be taken lightly. Even with loans and grants, and that fast ROI, there are income and opportunity costs that you’ll need to accommodate. You need to make sure that you’re ready to make the commitment, as the best MBA programs are extremely rigorous. You’ll have to sacrifice social life to get the most out of your degree program, especially with the ever-present shift of education to a team-based model, reflecting today’s workforce. However, sacrificing a bit of your personal life now and gaining a degree before you have a family or other obligations makes a lot of sense. It will be much harder to step away from bigger responsibilities a few years from now.

Benefits of an Early MBA

Many millennials want to know what they will get out of an MBA. How exactly would it change them? Two Stanford professors, Charles O’Reilly and Beth Benjamin, researched that topic and found that three things stood out. First, MBAs do successfully prepare millennials to become a first-time manager. Second, the degree sparked their initiative to undertake everything from starting a new project to managing growth. Third, it gave them interpersonal understanding necessary for managing strategic differences with a boss, or blending work, life and family. 

What about work experience?

Some argue that an MBA is not the only way to acquire a foundation for career success — it is best to first spend time in a job gaining real-world experience. But the fact is that the average age of Graduate Management Admission Test (GMAT) test takers worldwide is dropping (as measured from 2008 to 2012). 

Finally, recent surveys (including Bentley University’s recent research on millennials) confirm the widely held belief that lifelong learning will be necessary for career success. The MBA provides an important foundation, one that can and must be built upon throughout your career. The knowledge capacity, salary and rank you want to have over your lifetime depend on your pace and when you’re willing to get started.