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<p>That statement comes up a lot, and is absolutely not true. An advanced degree (MS, lets say) can help boost your competitiveness when it comes time to move in to management positions (team lead, SME, project lead, etc), or secure a slightly larger salary bump upon hiring, but by-and-large you do not need a graduate degree for engineering. And actually, in some ways, an MS can actually limit the number of opportunities available to you as employers may think you’ll end up bolting the moment another position comes up relevant to your MS focus area. An MS can have a pigeonholing effect. Regardless, you should get one if you feel very passionate about your field, and wish to further your education for personal reasons (which is the reason I did it).</p>
<p>A PhD is a different animal altogether. The type of work PhD’ed engineers get involved with is almost entirely different than the type of work a BS/MS will work on. Therefore, the majority of research positions, or top-level design positions, generally REQUIRE a PhD, whereas most normal engineering positions require a BS, and in some cases BS, MS preferred. You don’t usually see too many positions which state a requirement for an MS degree.</p>