I just completed my master and planning to get PHD. For me, its for academic purpose and furthering your knowledge. If some people said why trying hard to get master or phd? Go doing business la, knowledge is everywhere etc. I simply couldn't brain this as the academic process in higher education is more differ and really open up your mind. U learn something new, theory based and execute more on critical thinking. its a great experience actually and u will see the world in a new perspective.