Biomedical Engineers - working in the medical device industry with just a B.S?

[violinist21]

I am interested in working in industry in the design of medical devices (ideally working in a design team). I will be graduating with a B.S in Biomedical Engineering this May. I have extensive research experience in academia for an undergraduate but no industry experience so far (because I originally thought I wanted to stay in academia, but I have changed my mind). I have a very good GPA, but I'm not sure if that matters as much.

I have been pondering on the following questions:

1) Is it possible to find a good, meaningful job in medical device design with just a B.S (in industry, not academia, and not as a research technician)? How important is higher education in this field? Is the M.S or Ph.D the best choice in the long run? Can a Ph.D be considered over-qualified for these types of jobs?

2) Is it best to get a job and get experience in industry first and THEN pursue higher education (if it is important) or to go straight to the higher education after college? Are there any companies that provide financial help for employees to pursue higher education while working?

3) How important is the school ranking for the M.S or Ph.D when it comes to getting the job?

I know this is a lot of questions but if you can offer your input with any of these I would be very grateful as I am having a very hard time with this decision.

Thank you.

Edited September 24, 2012 by violinist21

[calvin8]

I am also interested in hearing some opinions in response to those questions.