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but I would advise for many engineering undergrads that a Master's degree is a very good financial decision
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I'd agree, but with a few caveats. Schoolwork is not the same as the career, and this holds in engineering as well as many other fields. So it is vital to get real-world experience thru internships and coops to make sure engineering is what you want to do. Especially if you're thinking of investing the extra year or two for a MS. A second reason is determining which particular area you want to pursue. An EE education is quite broad so its worth exploring career areas (VLSI, analog, signal integrity, power, etc) before entering a MS program which are much more specialized.</p>
<p>As for the MS, many schools are now offering a 5-year program in which you get both a BS and MS. With the caveat above of exploring the career before finishing, I think this is a good idea. Another option is the part-time MS. On the west coast Stanford offers this, and I'd imagine other schools do too. You take 1 or 2 classes a quarter thru telecourses, the same courses the full-time students are taking. You get the same degree they do (it isn't stamped "part-time" or anything). The downside is you're going to spend most of your free time for 2-3 years doing the coursework. The upside, though, is that most employers will pay for 100% of the program.</p>