Depends on your age, career and status - my undergrad degree and MSc are only very tangentially related to the field I work in now (IT and information systems), but I'm a senior level subject matter expert and have been in work for almost two decades, in my current field for a decade.
If I'm looking at entry-level new hires and their post-graduate degree is either directly related to our industry, then yes; even if not directly related, then I still give kudos for the additional commitment / intellectual rigour required.
For an older person (particularly at a more senior level), doing a Masters that isn't very industry specific would, I fear, be a bit of a waste of time and money (unless you have the time and money to spend on learning for learning's sake, which is, of course, always a good thing, but not guaranteed to translate into employment).
I would generally recommend that anybody over about 30 or so (assuming they've been the work place for ~five-eight years by that stage) looks at professional qualifications, such as project management qualifications or similar, rather than a very academic achievement.
I do, however, work in a commercial environment, so the teaching profession may take a different view on this.