Should I pursue an MFE? What are the pros and cons?

[zirtico]

I graduated with a B. Eng. in chemical engineering from McGill University and I've been unemployed for 8 months with a well-above average GPA and fairly decent resume.  I am now pursuing grad school and was considering a MFE.  What are the job prospects like? Is the money any better than what I can make with an M.S. in chemical eng.?

 

More importantly, I was leaning towards chemical eng strictly because it is a discipline that I can get an assistantship in, as I am deep in debt after my undergrad.  On the other hand, an MFE takes half the time that an MS in chem eng does.  Would there be any way that I could alternate full-time study and work so that I could pay off my degree as I go without going deeper into debt? Or should I just stick to the MS option?

 

Your opinions are appreciated!