MS vs Phd in Bioengineering

<p>So my current plan is to get a BS in ChemE at Purdue with a conc. in bioengineering, then go on to graduate school in bioengineering or biomedical engineering (whatever fits), focusing on cell/tissue. I know I'm planning wayyy ahead, but I'm still curious--what are the advantages/disadvantages of having an MS or Phd in bioengineering? Like what kinds of jobs would you get with a Phd, and how would they differ if you just had an MS? I'm interested in research, but not being a professor, so I'm leaning towards getting an MS with thesis(?) to be more versatile.</p>