Any degree, be it undergraduate or postgrad is invaluable, not just in the subject area but within many paths and careers. The types of skills you will learn while on your course will be transferable, and aid you in many professions such as public services, management etc. But if your comparing it to a PhD, there tends to be the false representation that the person is due more respect than they are truly worthy of, just because they have the title Dr. in front of their name.
However, a PhD student has a better qualification, and will sometimes be chosen over you when fighting out for a job. However, PhD's are usually found in academics, and usually people only get PhD’s because they need it for a certain career or if they want to challenge themselves. But a Masters is always good, and a postgrad for those who are not willing or unable to take on a PhD or equivalent. It's usually about a year long, but possibly two so prepare for both. It's usually a something called taught masters, and so you will attend mostly lectures. However, it is also possible to get a research masters, this is often offered in subjects with a broad range for subtopics which can't always be covered in the single course e.g. Anthropology (Biological, Social, Medical and so on).
But all in all, a masters is a very valuable qualification, and usually something most postgrad's are doing who enter area's other than academics (different from education, academics means university level institutions), science or historical type career’s. I would go for it if I were you, however make sure your university is known for production good students at postgraduate level's.
