The development of a fast semiconductor laser is required for the realization of next-generation telecommunication applications. Since lasers operating on quantum dot ground state transitions exhibit only limited gain due to the saturation effect, we investigate lasing from excited states and compare its corresponding static and dynamic behavior to the one from the ground state. InAs quantum dots (QDs) grown in dot-in-well (DWELL) structures allowed to obtain light emission from ground and three excited states in a spectral range of 1.0-1.3 μm. This emission was coupled to whispering gallery modes (WGMs) of a 6 μm microdisk resonator and studied at room temperature by steady-state and time-resolved micro-photoluminescence. We demonstrate a cascade development of lasing arising from the ladder of quantum dot states, and compare the lasing behavior of ground and excited state emission. While the lasing threshold is being increased from the ground state to the highest excited state, the dynamic behavior is improved: turn-on times and lifetimes of WGMs become shorter paving the way towards high frequency direct driven microlasers.