Employment Promotions and Raises - Graduate Degree

<p>Hi, I am interested in getting a Masters in Computer Science. My question is more directly related to how employers (or should I say the Human Resource department of a company) handle new hires, annual raises, and promotions.</p>

<ol>
<li><p>What kind of edge does one who has an MS in Computer Science have over someone with just a BS in Computer Science given the same amount of years in work experience (ex: right out of college)? I've been told that some people have been hired into a different position level based on their level of degree (ex: Software Engineer I versus Software Engineer II). In general, what kind of salary % difference should one expect?</p></li>
<li><p>What kind of edge does one have in terms of annual raises? Are they the same percentage given they both had equal performance throughout the year? I assume that annual raises are solely dependent on annual performance, but is there any possibility that an MS degree will affect the judgement?</p></li>
<li><p>I assume that the individual who obtained an MS is more likely to be promoted sooner. However, is this only a one time advantage over the individual with a BS degree? For example, if two individuals get hired in at the same time (one with a BS degree and one with a MS degree) they may be hired in into different position levels (software engineer I vs. software engineer II) but, will the individual with a MS degree have any other advantage later on in his career?</p></li>
</ol>

<p>Also, if there is anything else you'd like to mention, feel free. I really have no clue what effect this has in the real world. Thanks.</p>

<p>In addition to the question I posted above, I guess this question goes out to the veteran Software Engineers/Software Developers who have been in the industry for awhile. I was doing some calculations for someone who had just graduated straight out of college with an annual salary of $70k. Here is what happens when the individual receives a 3% raise per year over 20 years:</p>

<p>Year 1 - 70
Year 2 - 72.1
Year 3 - 74.263
Year 4 - 76.49089
Year 5 - 78.7856167
Year 6 - 81.1491852
Year 7 - 83.58366076
Year 8 - 86.09117058
Year 9 - 88.6739057
Year 10 - 91.33412287
Year 11 - 94.07414655
Year 12 - 96.89637095
Year 13 - 99.80326208
Year 14 - 102.7973599
Year 15 - 105.8812807
Year 16 - 109.0577192
Year 17 - 112.3294507
Year 18 - 115.6993343
Year 19 - 119.1703143
Year 20 - 122.7454237</p>

<p>Does it take 20 years to achieve a $120k salary? I have not included promotions or the idea of job hopping from one company to another. Could someone give me some accurate insight into how this would really playout in a 20 year span? Thanks.</p>