A PhD is over the top - you get too deep into too many things that will never have any relevance in most jobs. However, a master's degree may be an excellent choice. You learn, in depth, a broad range of theories and technologies, which you can then apply in many job related settings. For example, you'll be equipped to pick the right language or algorithm for some new project. People without the same educational background will be less likely to make the same intelligent, well thought out choices, and often times will simply stick with what they already know. My choice would be a.3 - Try to do both. Make the master's degree the primary focus, but then work part time or as an intern at a company in a field which interests you. Then by the time you graduate you'll have both the degree and experience.