When it comes to deciding whether to pursue a master's versus a second bachelor's degree, there are many things to consider. For one, college is expensive, and a double undergraduate major❀ can leave you too tired to get a graduate degree, which takes about the same amount of time♑ or less.
In many cases, the projected pay raise that you would see with a master's degree would help you pay back student loans much faster. Some schools even offer a joint undergrad and MBA at the same school, which can be a good bang for your buck.
Note that achieving a dual degree in your undergraduate years is different from double majoring. A dual degree, for example♍, would be a bachelor of fine arts 🌼and a bachelor of science.
Key Takeaways
- Deciding whether to pursue a second undergraduate degree or pursue an MBA is a big decision; however, there are many reasons to choose the latter.
- MBAs are typically shorter programs, able to be paired with any degree, and are better bets in leading to jobs with higher salaries.
- Before taking the plunge, it's advisable to learn more about the field you want to enter and what degrees are sought after—even better if you can shadow a professional in that field.
Reasons to Get an MBA vs. Second Bachelors
Save Time With an MBA
In general, you can complete a master's degree with 30 to 60 credits or approximately two years. If you take four classes per semester for three semesters, you can be done with your master's in one year—if you attend fall, spring, and summer semesters. You could easily spend this much time as an undergraduate student to get a second degree. To get an additional degree, there is a ton of extra work you need to do.
As a rule of thumb:
- You will need to complete more credits to earn a dual degree. It will be approximately 150 credits for two bachelor's degrees.
- For a double major, you will need approximately an additional 30 credits depending on the major.
- You may have class time conflicts with upper-level courses in your first degree, and this can cause your total undergraduate completion time to increase.
The additional credits and class time would add one to two years to your schooling—enough time to get an MBA or a different master's degree.
Pair an MBA With Any Degree
For instance, you can get an MBA after getting a degree in English. So if you are midway through your English degree and decide you'd much rather have a career in finance, finish up your English degree and wait to study▨ finance at the gr💃aduate school level.
Work Smarter, Not Harder
When you complete a degree first and then go to grad school, you have the possibility of getting a job in your field that gives you more experience while you work your way through school. In addition, you'll also earn more money than with a non-degreed job.
Financial Aid Counts
MBA students are eligible for federal financial aid just like undergraduate students. Complete a FAFSA to determine your eligibility and how much federal aid you can receive. In addition, look to scholarships and grants to help 澳洲幸运5官方开奖结果体彩网:pay for either degree. In addition, if you're working with a company, 澳洲幸运5官方开奖结果体彩网:they may also pay for a portion of your MBA.
$55,000
The average cost of an MBA. However, the amount varies greatly, with top-tier MBA programs costing approximately $120,000.
What to Consider Before Deciding
Even though a master's degree makes more sense for your future than a second undergraduate degree, you don't want to make it halfway through graduate school and find out you weren't as interested in this career field as you originally thought. Try these tips to feel good about your decision:
Explore Your New Career Field First
You don't have to complete a whole degree to get your feet wet in an area of study. Use an elective credit under your current degree plan to try out another career field.
For example, you're ready to start studying finance, but you haven't taken any finance courses. Take a finance course or look into 澳洲幸运5官方开奖结果体彩网:internships you may already qualify for before investing thousands of 💜dollars in ad൲ditional education.
Shadow a Professional
Want a snapshot of what your post-graduate life would be like in your potential field of study? Many professionals will let you spend a day with them, so you can see 澳洲幸运5官方开奖结果体彩网:if this is a career you'd want to have after your gradu𒀰ation. Contact your school's career services dep꧒artment to arrange or get help arranging a shadow day.
Talk to a Graduate School Advisor
Set up an appointment with a graduate school advisor to find out exactly what you would have to take to get your master's degree. Looking at a course catalog is one thing, but knowing what classes you'd have to take based on your academic career is vital to making the decision to continue your education.
Can You Do a Double Major With an MBA?
Many MBA programs offer dual degrees, such as an MBA with a master's in public policy or an MBA with a JD. Some even pair MBAs with a master's in computer science. So yes, you can do a dual degree with an MBA.
What Are the Disadvantages of an MBA?
The disadvantages of an MBA include the cost, which is very hi💙gh, the time commitment, which is usually two years, the lack of practical learn💞ing in some programs, as well as the risk of a low return on investment if you do not obtain a high enough paying job after graduation.
Is an MBA Worth It if You Already Have a Masters?
Whether or not an MBA is worth it if you already have a master's will depend on the specific individual, their career goals, and their financial circumstances. An MBA is expensive and a big time commitment; however, an MBA can open many doors to different careers as well as higher-paying jobs. If you feel doing an MBA will significantly improve your career path and your salary, then it may be worth it.
The Bottom Line
Taking on a second undergraduate degree or graduate degree is a big decision. Before choosing either, have some experience doing an internship or with coursework that makes you think you'd like to complete a whole major in🍒 this field. Then take the plunge and get a gra♐duate-level degree. Most likely, it won't take you any more time than a second undergraduate degree, and it will look better on your resume.