I completed all of the course work for an MA 15 years ago, right after I completed my undergraduate degree. By the time I started looking for my first job I was so tired of talking about design. I just wanted to DO it.
My first job search proved to be challenging. The comment I heard most often at the conclusion of an interview, and the reason so many job opportunities slipped through my fingers, was that I was "overqualified." No one wanted to hire me for an entry-level position because they feared that I would want too much money or I would become bored quickly. Perception won over truth.
The only people that seemed to be impressed by an MA were the HR reps in a corporation or association. Every design studio I've ever worked for – which is where I grew the most as a designer and art director – put very little emphasis on education (the owner of the company doesn't want to be one-up'd on education!) and almost all credibility on talent and ability to get the job done. The reason I got any subsequent jobs was only because of my previous experience. Beyond my first job my education didn't matter at all.
I'm seeking an MFA because I love teaching. I want to make it a career path. But if all I ever wanted to do was work as a designer and art director, my BFA would be education enough.
So has education really become inflated? I think it's in the best interest of the education institutions to tell you as much. And certainly there are fields of study where graduate degrees are helpful if not required. I don't believe design is one of them.
It's just my opinion. I might be wrong.
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You might be right. However, I know I'm in the Pub Design program because I already have a bachelor's degree, and I wanted to learn SOMETHING about design without getting ANOTHER one. Getting an MA (even though it may not be exactly what employers are looking for) is, for me, an opportunity to move forward without moving back.
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