Ashtree, while I love your signature, I disagree with your basic sentiment. A master's degree without a passion for the subject and an internal drive to know everything you are capable of internalizing about the subject is just a line item on a resume. Very few employers are ever going to care about it. On the other hand, if you pursue an MS because of a passion for the subject, that passion comes across as an asset. It is the passion that is marketable, not the line item. To rephrase your list:
[ul]
[li]A Master's degree without
relevant experience is a liability (you have expectations of higher pay because of the MS and no immediately applicable skills)[/li]
[li]With relevant experience, a Master's degree can help you formalize understandings that you acquired in an informal way (e.g., before I got my MS in fluid mechanics, I knew that using a centrifugal pump on an oil stream increased the risk of an emulsion, the MS improved my understanding of shear flow and its contribution to emulsification--I still don't like to use centrifugal pumps on oil streams, but now I can explain why I don't like them with some details and authority).[/li]
[li]If you are somewhere in between novice and expert, an MS is mostly just a bunch of arithmetic that is irrelevant to improving your expertise and it will just be a line item on your resume.[/li]
[/ul]
Nothing I learned in my MSME program has ever been directly applicable to my work as a Field Facilities Engineer in Oil & Gas (I'm yet to ever perform a Fourier Transform or even try to solve a real-world partial differential equation in anger), but having jumped through those hoops had an impact on my approach to difficult problems and has made me a better engineer. Being a better engineer had a positive impact on my life as an employee and has certainly had a positive effect on the success of my consulting business. In my experience, the OP
really needs to honestly define his reasons for putting himself and his family through a couple of years of outrageously hard work and long hours.
As to working internationally, with a BS I had no trouble getting visas and invitations to travel the world. With the MS I still have no trouble getting visas. Since 2008, 80-90 percent of my consulting business has been overseas (man camps and hotels are a different way of life, but I like it). Did my MSME help me build a successful business, yes, but maybe not in the ways you would think.
[bold]David Simpson, PE[/bold]
MuleShoe Engineering
In questions of science, the authority of a thousand is not worth the humble reasoning of a single individual. Galileo Galilei, Italian Physicist