Have been wondering about this lately. I am in my fifth year of teaching. A couple of years back I remember my deputy head, someone I respect and admire hugely, saying that if she was a young teacher she would seriously consider doing a masters as teaching was becoming a masters entry job and that such a qualification would be needed in order to compete with new teachers. It is a sentiment I have seen expressed elsewhere.
However, now i read that pgces are likely to be phased out and on the job training such as gtp (which I did) is more likely to be the route in in future, delivered by teaching schools (which my school is!)
So, is the masters idea old hat now? It is something I have considered but it would be very costly and not worthwhile if other academic routes are being devalued, no? Or am I missing something?