<p>My degree is a MS in MIS, but it was from a galaxy long ago and far away, so I might not be the best person to answer the question. I do hire people, so I'll try to answer from that perspective.</p>
<p>By and large, the Masters tends to give you two advantages: one, companies tend to see you as more mature (graduate school is enough harder than undergraduate schoool that you have to be more serious and hardworking to survive it) and, two, you often get more practical, hands on experience through internships and real world class projects. </p>
<p>One course I took had us working with consultants to define requirements for a major system a company was implementing. Still a limited environment, but close enough to what I went on to be hired to do (with a different consulting firm it turns out, but I did eventually go to work for the first guys), that it was a big help in the real world.</p>
<p>You can do those sorts of things as an undergraduate, but I don't expect the experiences to be as intense.</p>
<p>Short term, in the initial hiring, firms vary on whether this is important to them. The firms that have a lot of initial training think it's less important, and the sink or swim guys think it's more. I'd say that someone with a Masters will be paid more, and will be given more challenging opportunities sooner. More will certainly be expected of them, and they'll tend to advance faster starting out.</p>
<p>Longer term, say 10 years out, it's how well you perform that matters, not what degrees you have. The Masters just opens more doors a bit earlier, and that can be an advantage if you work hard. </p>
<p>I do have to say that most of the senior people I work with have Masters degrees, but some went back for them. Those that went back often have MBAs, though, since that's a better compliment to an IS degree than yet another IS degree for most purposes. Likewise, my undergraduate is in business. That leaves me a bit uncertain of the value of the 5 year program, but I will admit most of the value comes from the second degree, not what it's in.</p>
<p>Hope that helps.</p>