Saw this thread and wanted to comment for anyone that may read or is debating pursuing an MLIS. Here's a bit of how my thought process went when I applied and then what the reality was (sorry, Shep, hope you don't mind that I'm adding on like this! Would love to see if your experience was similar to mine):
-First of all, I was extremely fortunate not to have any student debt thanks to a combination of circumstances, working throughout undergrad and grad (full-time in grad), scholarships, etc. Had I been looking at a lot of debt upon finishing undergraduate I do not think I would have pursued a graduate degree, or at least maybe not right away. College debt can be difficult to pay off no matter what your profession is but especially so if your profession already does not pay much.
-People would have warnings like "you will need to be good with tech" (hm, well, I'm ok...I hope that's good enough!) "there aren't many jobs" (I'm a good planner and if I anticipate this I will be able to stay a step ahead by doing things that keep me relavent), "it will be hard to get by with this degree" etc. etc. I read these warnings and admittedly took them with a grain of salt because I had always had a plan, been a good student, and a clear vision of what I wanted for my future and so far things had worked out pretty well for me. I guess I thought that by reading these warnings and constantly staying aware of them that I would be able to plan around them. First thing I did when I got to my grad program was make sure I got a job on one of the campus libraries so I wouldn't be applying to jobs after graduating with 0 experience. When I was about to start the program it looked like the #1 reason most people weren't finding jobs after graduating was they had no relevant library experience and had just gotten the degree. So I made that a priority and it's a good thing I did because having prior library experience is arguably more important than the degree itself in some ways...
-The program was not particularly challenging. Some courses I enjoyed more/learned more in than others and I got to make new friends in a different way than I did in undergrad so that was cool. By a "different way" I mean through actual group work and bonding over mutual interests rather than in a "hey-we-live-on-the-same-floor-let's-hang-out" kinda way. Never really developed relationships with my professors and I honestly don't even remember if I ever had an advisor. Maybe I did? I dunno. Anyway, It was a new, exciting experience for the first semester and I did learn some cool stuff but by the time I finished I was SO ready to be finished both with the program and school in general.
-I was lucky and had a "full time" library job right out of school, but when I say lucky...I really, really was, and it didn't take long for me to appreciate that when I looked around at the rest of my graduating classmates. It wasn't my planning, foresight, connections, good grades, etc. that got me where I was it was really more of a "right place right time" kind of situation where I applied and prepped and then interviewed really well for a position that is seldom open. Though the job was full time it didn't really pay that well, but had pretty decent benefits. Enjoyed the collections and working with the students and professors...although to be honest, not many came in and it seemed like there were fewer that did every year. When you take into account that I had a Master's degree then the pay looks even worse in hindsight. My duties also did not really require the skill/knowledge of a Master's. However, even though I listed some of the negative things the reason I say I was lucky is because many classmates either took A.) part-time positions B.) volunteer positions just to get experience or C.) non-library jobs right out of school...so to get a full-time library gig was actually relatively unique for those I knew personally in my program.
-After a few more library positions for ~5ish years I pretty much felt like I had achieved all my goals and hit the level of fulfilment I was seeking. I half-heartedly applied to some other library jobs here and there but kept striking out. This wasn't that long ago so I got a good sense of the terrain...it's tough, even with the degree and experience. When I was applying to school I would see awesome positions at good schools in disciplines right up my alley like History, Religion, Philosophy, etc. and be like "oh wow I'd love to be the Librarian of the Byzantine Collection at ____ University" and think those were the jobs I'd be getting when I graduated. They weren't....and actually, they weren't even jobs I was getting INTERVIEWS for even with the degree and years of experience at this point. What you have to do to even get an interview for one of those jobs I have absolutely no idea. My guess is publish several articles and probably have another Master's in a relevant discipline, so keep that in mind too.
-So basically I looked at my situation and thought to myself "I've had a good run" and was lucky that I got to be involved with the areas of the Humanities that I enjoyed...but I realized I really didn't have anywhere to go from there that would be a significant improvement. Realizing this, I changed tracks completely and started applying to some local businesses. Then I started getting interviews, started getting offers, took a job with one of those companies and have never looked back. Before starting my Library Science grad program I never would have guessed that I enjoy working outside of academia as much as I do and I do not regret the switch at all. Thankfully I was ready for it so maybe if my circumstances were way different it may have been harder for me to make that decision or adjust to the new lifestyle, but I really do genuinely like it AND prefer it over where I was with librarianship. It was nice for awhile but unsustainable in the long-run.
In conclusion, I don't want to tell anybody what to do - you know what's best for you and your life and where you are currently. But from my experiences and reflecting on them here, I know my story is NOT typical and I am extremely fortunate that it worked out the way it did so please keep that in mind. I would definitely not recommend getting this degree just so you can say you have a Master's on your resume and hope that pays off because I have never seen it having that kind of power as a resume-builder. If you do get the degree and struggle with finding library jobs - don't be afraid to adapt! Don't feel like leaving libraries/academia means you are giving up or that you wasted time getting a degree you won't "use". Changing careers now is actually pretty normal and there's no shame in wanting to improve your circumstances. You can also still take classes on the side or study the things you love as a hobby. You can even still write articles and publish them if that's what interests you...you don't NEED to be a librarian to stay relevant in academia!
There are many ways to do what you love without trying to make those things your lifelong career. I hope this helps give some of you clarity if you are considering this type of program. Cheers!