Masters Degrees don't pay off for IT?

New study from Georgetown University's Center on Education and the Workforce says sometimes a graduate degree pays off -- potentially up to 40% earnings boost.  But sometimes not so much.  Especially in IT (and four other fields I don't care about).

I find it interesting that they quote Modis (a big IT body shop) as saying improved skillsets and interpersonal skills are more important than greater academic qualifications.

So many people I know are thinking about getting a M.A. or a M.S. to get out of a slump, a slot, or otherwise jump-start their IT careers.  Hit the brakes!