Superfluousness of Graduate Degrees?

To whom it may concern:

I apologize for any redundancy with other posts on this board, but you
seem like both an intelligent and helpful group. I have read several
posts asking for words of wisdom on how to break into the publishing
industry. My question is of the same nature, though a bit more
specific.

In reading, I have noticed a comment or two about universities that
offer a one or two year graduate program in publishing. The people who
made these comments were of the opinion that such a course would be
over-kill and perhaps even a waste of time and money, and that a new-
comer to the industry would be better served by one of the short-term
non-degree courses or simply an internship or unpaid entry-level
position.

So, my question is, are there any members of the industry out there
who think a master's degree would be of value? Obviously, it would
provide a change to learn a bit more about the industry, make some
connections, and gain some experience through working in university
publications or an internship. However, these experiences may also be
gained through other routes. Also, because publishing is an
apprenticeship type industry, I understand that an extra degree is not
going to affect your low level of pay in those first entry-level jobs.
Would it at all make a difference later on or make advancing any
easier?

I'd appreciate any pearls of wisdom your could throw my way. Thanks so
much for your time.

Sincerely,

Katie