Career Progression: Masters or No

SGT Thayer hit it on the head. There is NO REQUIREMENT for a Masters degree. Period. That being said, You want to stand out from your peers in a POSITIVE way. 

Sir, I am not particularly adept on the Officer side of things, but look at it this way: You are competing with your peers for assignments, promotions, etc. If you are planning on making the military a career and you and one of your peers both get looked at to make Major, Lieutenant Colonel, so on and so forth, both of you have the same experience in everything, why would they pick you to get promoted if your peer has a Masters Degree? It shows you that you are trying to better yourself as a well rounded individual. In my opinion, a Masters Degree for a field grade Officer and higher is a must. Just my two cents.

I suggest one might worry not about career progression but rather about knowledge that can permit one to serve more effectively and contribute more to the service and the nation. And if that is useful in one's career (and most likely it will be) then all the better. In my experience the better educated soldier stands out when compared with peers not by the added letters after one's name (like MBA) but rather by their ability to take on complex jobs and create flexible solutions. When I was an undergraduate my class had a motto; "Knowledge in youth becomes wisdom with age". As one's knowledge deepens and the concepts one is exposed to broadens, they are able to do more and contribute more. It probably begins to show up in the mid-grades as you are called on to address more complex staff work for which there are no text book solutions. I do think the degree field is important and there are plenty of fields that have direct application.

Absolutely. You will greatly improve yourself in distinguishing yourself from your peers. Even if everyone in your year group gets a Master's you should want one to avoid being the one without one. It will also help you when you get out of the Army in your civilian job regardless of what is it in because you learn how to manage your time with work and school as well as broadening your network with people. If you get one in your field in the military it may be something that they look for when considering below the zone. However, try to make sure that your degree will also help you when you decide to leave the Army so you do not find yourself unemployed and looking to go back to school.

Can further education ever be considered a bad thing?

Allow me to offer a different perspective, LT. What happens when you are on patrol in some -stan nation and are severely injured and forced out of the military? Sure, you have medical retirement, but I assume you would prefer to work. Having a Masters in nearly a must in civilian life now, as everyone has B.A. and B.S. in everything from Engineering to underwater basket weaving. In addition, most employers no longer require a specific undergrad, just something.

Now, I hope this scenario never plays out for you. As such, you should still consider a Masters for career advancement. Yes, MBAs are frequent (although I am currently working on mine), but you may consider business or accounting. Either one is essential for executive management and would be a definite plus for making Major and higher. Hope this helps!

It is not neccesary, but it couldn't hurt.  My current Battalion Commander has been promoted BZ to Major and Lieutenant Colonel and he does not have a masters, so it can definately be done.

I am awaiting the May OCS board results and every officer I talked to said that having my masters done by the time I hit Captain would give me a leg up for Major.

O4 to O5 it helps.

If you get a masters in your field it will help you think more outside the box. A MBA or masters in leadership will cover plenty of administrative functions you encounter.

Another way to look at it is credibility. In a time where many junior enlisted have their education, do you want to be one of the least educated at your job? Get it done! You won't regret it!