I always suggest looking at the people with the jobs you want and seeing what they’ve got experience wise, education wise and such. Why: You’re competing specifically for such work. That’s usually easy to check out via LinkedIn and other online sources.
People get (more) education for various reasons, including better career prospects. But there are many ways to learn skills and thinking, not just formal education.
If it were me, I’d figure out what ROI would look like, given money and opportunity costs. (To me, time is the most valuable resource we all have, because it’s finite.)
As someone who hires content folks, in all my years of managing, I’ve cared about someone’s degrees only once — and that was because we needed them to work with scientists and other experts along those lines. Otherwise, I’ve never paid anyone a cent better for having a degree or more.
I don’t usually require ANY degree for writers or editors — you can either do the work or you can’t. A degree makes no difference to me in such cases. Some corporate employers care more about degrees, but less and less so.
Important to consider: Most colleges are poor at teaching marketable skills. Often with content and marketing, you can learn more and faster on the job and/or via (online) classes taught by practitioners (rather than academics). And you can do that more affordably.
Some people also go to school to build networks. My POV: I can build network much more effectively, quicker and at higher caliber outside of school. YMMV, of course.
When I hire, I prefer people who are self-taught or who learned on the job. Why: It takes greater self-discipline and motivation to do it that way vs. showing up in class. I look for people who are intellectually curious go-getters.
Note: I have a journalism undergrad degree that I don’t even mention on LinkedIn and yet I get recruited a lot, by employers big and small. And I make more than nearly all content folks. That’s because savvy businesses realize that business results matter most when hiring.
How I decided to not consider degrees: I spent decades in journalism and worked with many high-caliber colleagues, yet I saw no correlation between education and ability. To me, if degrees were so worthwhile, I’d expect to see clear patterns of outperformance by people with them.
And degrees obviously matter more in some fields than others. In content, we can review work samples, interview and test people, and we can look at their business results. Why do I need a degree from someone if so?
In our kind of work, degrees are often used as proxies or assumptions of ability. I know how to discern the real thing. Why would I need a proxy if so?
Plus, if I care about diversity in hiring, why would I screen out people who can do the work, just because they might not have a degree?
And FWIW, I’ve hired many people — ones with no degree, OK degrees, fancy degrees, law degrees and MBAs. I’ve yet to see a pattern of differentiation in my content work that would lead me to change my hiring screening practices. And I’ve had latitude to hire whomever I wanted, with the resources to match. I’ve also mentored a good number of people who are much better educated than I am, at their requests.