I'm in my 40's and doing okay without a Master's degree -- should I get one anyway?
First things first: I know already that it is a long-ish shot that I will end up making money from the field I've chosen. But it's theater, and I knew that going in. I do have a BFA in drama, but through a long and circuitous career path I've ended up as a literary manager instead -- it's a job that I didn't even know was a THING when I was a kid, but I've come to love it, and for someone without any training I'm not doing bad (I've been running a playwriting contest
for about 9 years now, I've done some production research and writing for two other theater companies as well).
I have just discovered that a state school near me offers a dramaturgy/literary management MFA, and the tuition is very low. What I'm wondering is whether it'd be worth it, since I've already gotten some work without it. I don't get diddley-squat in terms of pay right now, and have to have a day job; but so do 85% of the people working in theater as well. I'm fairly sure that even with an MFA, a well-paying job in theater would be hard to come by. I'd also be in my mid-40's when I was done, and that's a really late start on a career change.
On the other hand, I'm about 2 months into a day job at a bank and already cringing at the thought of a long stint here (the current game plan is to stick it out here until my debt is completely paid down in about 2 years), and maybe a degree would at least help me get a day job closer to my own interests.
So: is it worth going back for a masters' in something you love, but know you won't get rich at, when you're middle aged? Please advise.