I don't think a masters degree is that useful in this field - the best guys you can learn from work at studio jobs, so if you land a job for a year at a good one you'll learn everything you want. The sooner you jump into the professional world, the better.
I started as a modeler and then after I changed to become a tech artist I did a masters in software engineering. That was really worth it. I wouldn't have done a masters degree for anything game related. But I think that's exactly the beauty of it, you can choose to study something new, without spending as much time as for an undergrad degree, and give your skills and career a new direction.
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