Is a master's degree actually worth doing?
It depends almost entirely on why, and the honest answer is that it is clearly worth it for some purposes and a very expensive way to defer a decision for others.
When it is genuinely worth it:
It is a requirement. Some professions and regulated roles require a specific postgraduate qualification, and there is nothing to weigh.
Career change, where a conversion course provides access to a field your undergraduate degree does not.
Research intent, where a master's is the route to a PhD and frequently a condition of funding.
A field with a documented graduate premium, where employers genuinely pay more and the data supports it for that subject.
International mobility, where qualifications affect visa and recognition routes.
A specific skill gap you can name, that the course genuinely fills.
When it frequently is not:
As a default after graduating, because the job market is difficult. A year of relevant experience frequently beats a year of further study for employability in most fields, and the master's does not improve the underlying position.
To defer a decision, which is expensive and usually leaves the decision in the same place a year later.
As a general signal of ability, which employers value far less than people assume outside specific fields.
Where the subject has no wage premium, which is true of many.
The costs to weigh properly:
Fees, which are unregulated in the UK and vary enormously.
Foregone earnings, which are usually the largest cost and are routinely omitted from the calculation.
Postgraduate loans, which exist and cover a proportion rather than the full cost, and repay alongside undergraduate loans — which materially affects take-home pay for years.
Living costs, without a salary.
What to check before committing: the graduate outcomes data for that course, not the institution; who actually teaches it; whether it includes a placement; whether employers in your target field value it, which you can establish by asking them directly; and whether a part-time or employer-sponsored route exists, which removes most of the cost objection.
A conversation with three people doing the job you want is worth more than any prospectus.
General information, not financial advice.