Spoke with a few buddies from school and basically can mirror 'crankcall' comment about P. Eng and M. Eng not really doing much for anyone in the fields they selected. We all graduated with Aero degrees and only a handful of us stayed in it. The guy that did was the only one that did his M. Eng. because he did the co-op there, and they wanted it for him to have it. The rest just worked their butts off to show that they're capable, and continued making advances in the field that they selected. Some jumped around to get more $ (myself included...30% increase within a year due to job changes), and some jumped around and made it full circle back to their starting company after they found out that grass isn't greener on the other side. In the end it'll come down to work ethic, and ensuring that you continue showing that you are capable and willing to go above and beyond. If the company doesn't appreciate it, you move to the next one. Build your contacts and professional circle, and if you select a specific niche then it's easier because it's a much smaller world. Good luck.