Masters Degree
 

Given the current hiring environment, does anyone think it would be worth the time and money to do an online Masters degree?

Yes! It is super competitive out there, and despite what some of the more optimistic members of these "fora" claim, that will not change--at least any time soon.

I am doing an online MSA in aviation safety. It is cheap at $20k (including texts), I am learning a lot pertaining to SMS, TEM, HFACS, situational awareness and decision-making and other valuable aviation subject-matter, and I can use it to position myself so that I can acquire a job with the NTSB, FAA, airline safety department or a pilot training facility such as Flight Safety in case that I should unfortunately lose my medical.

You will have to evaluate what your goals are in regard to why you want it (personally, my desire to know more motivates me to carry on with the program; without that impulse, it would be hard to pursue it through). Another consideration is how much time you have available. I find myself utilizing much of my time off studying instead of doing other things which I would enjoy recreationally. If you are time-constrained, it could be an issue if you fly too much or have other responsibilities.

Differing opinion: no...just no.

Just my opinion: yes. Education gets you points on an app; masters might not be much but it's better than nothing.

As for the real reason why I advocate for one: what happens if you lose your medical? Wouldn't you like something to fall back on?

I'm a big fan of education. I like the idea of having a backup if you lose your medical. I have an MBA for that reason exactly. You also might get one extra point on your airline app. It certainly won't hurt you.

However, in the current hiring environment (next 10 years), I just don't think it's a worthwhile investment to spend all the time and several thousand dollars on an online masters in something like "Aviation Management Whatever". If you're starting from scratch, it will take you several years to finish this degree and I think that you'd be hired by then if you have all the right aviation credentials/experience.

If you have a desire for knowledge and genuine interest in adding a degree, go for it!

Thanks for all the opinions! I would really like to get the Master's in something aviation, but I just don't think its worth the purchase price. I can not justify $20k.

Unless your ultimate goal is airline management, a Masters will not be a worthwhile investment IMHO. BTW, FAA and NTSB does not even require a B.S. degree to get hired as an ASI or Accident Investigator.
There are many other cost effective ways to "stand out" and get noticed.

Use that $$ to jump-start your retirement fund and do lots of networking/career fairs, etc...

I believe this school offer 100% online masters in aviation management for half that price.
http://www.deltastate.edu/PDFFiles/G...20Brochure.pdf

A general rule of thumb is that more education is never a bad thing...if the ROI makes sense. If you can afford to pay the tuition then do it. If not, and you don't foresee a jump in pay or doors flying open with the degree, don't do it. Ideally work for a company that will at least chip in some for tuition.

Correct. Total cost is about $11,000 with texts, and can be completed in just over a year if you take accelerated summer semester courses (be prepared to do a LOT of writing in a short period of time).

I am in the process of completing my degree here. I'll have a masters this time next month.
I hope it pushes my app over the edge. Like others have commented, it also provides me other opportunities should I lose my medical, become furloughed, or desire something other than line flying.