The answer of Kashish is a spot on.
I just want to share my experience. I decided to call it quits after my bachelor degree and just wanted get a job, a good one of course. Most, if not all of my former classmates and friends have chosen to continue their studies to get a Ph.d and what we call here a "masters degree" because most companies with old spirit here in Tunisia don't even look at your resume unless you have 5+ years in college + 1 to 2 years of experience in the field you are applying to, which means either you get paid close to nothing in a small business until you build your experience, or you apply for some internships (again no paychecks at the end of month).
As for me, I anticipated that with solo and open source projects. I started developing/releasing apps before my final-year project and I created my personal website with a small portfolio. Needless to say, I got contacted by many companies/startups even before my graduation. I even worked as a freelance in a startup by ex-googlers.
Now I work as consultant in a multi-national corporation and I get paid as a confirmed android developer (which normally means +2 years of experience), ONLY months after graduating. I still get constantly approached by many startups/companies monthly.
So my advice is, starting making projects, even small ones, using what you learned and start improving you skills with new technologies/frameworks/platforms. Get involved in open source projects, that will show your future companies that you can work within a team and that you can use collaboration tools.
Work on a small portfolio. That will save you time in needless interviews and also helps you in salary negotiation.
I hope that helps!