Should I pursue a master's degree now or is a PhD a better option given the current scenario?

A master's degree is likely the better option for you at this stage.

- Duration: Master's programs take 1 - 2 years, while PhDs typically require 4 - 7 years. - Focus: A master's enhances professional skills and opens advanced industry roles. A PhD is research-intensive and best suited for academic or specialized research careers. - Career Impact: With your strong academic record, three years of experience, and high current salary, a master's will help you upskill and return to the workforce quickly. - Financial Considerations: Master's programs generally involve less time and financial commitment than PhDs.

Consider a PhD only if you are committed to a research or academic career and are prepared for the longer timeline.