The Master's is getting a lot more popular -- even de rigueuer.
My job search has pretty much died. I didn't get any kind of job at an academic institution, though my share of interviews.
“Master’s programs are the most obvious targets of opportunity,” said George L. Mehaffy, a vice president of the American Association of State Colleges and Universities. “The degrees are in high demand, and this is an optimal time to enter or expand the market.”
For students, the degrees are often expensive; at private universities, many students take out $50,000 in loans for every year of school. And scholarships and fellowships are rare, unlike doctoral programs, which are usually fully financed by universities.
At least my wife has gotten a job offer, which we're excited about.