The Meaning of Letters?

I've been debating lately whether to go back to school for another degree. I don't know if it's a desire to sit in a classroom again, subject myself to large quantities of reading (like I don't do enough of it already through working in philanthropy) or what. Heaven knows I don't miss taking exams. But something inside of me wants to add another set of letters behind my name. And just taking the occassional continuing education class will do; no I must be a graduate of some program from some university.

So what good are the extra letters? Many individuals my age (early 30s) working in philanthropy are simply trying to establish themselves in the field, possibly with eyes towards moving up through the foundation ranks. Current foundation staff with doctorates probably received those degrees before they began working in philanthropy, as it was desired to move ahead in their field or to secure a job in the field they wanted. But what benefit is it in a foundation to secure a second Master's or a doctorate degree? It's not necessarily a sure way to move up in the field.

I tried doing a little research (see? already preparing!) on the educational levels of foundation staff but had a hard time finding any reports or information regarding who has PhDs, Master's, etc. I talked with a co-worker who received his doctorate before coming to the foundation and he simply said "Go for it!"

So maybe I should just follow that advice and go for it. It could be beneficial in the long run, right? Opinions/input are welcome, especially if you know where to find info on foundation staff education levels.