I agree to a certain point of what bufflowings had said. But let me give you my twist.

I was from a mechanical engineering background, and worked n the automotive industry overseas. When I came back I switch my job to be first a data analyst, and now a Business Intelligence analyst. I am in my late 20s. I have found that data science or data analyst is definitely more a buzz word that what it is used now especially here in Malaysia. Most companies are not at the level yet were they truly require predictive analysis. The advantage for you and I is that since the field is so young, going into it now would give us a leg up in the coming future.

Being a data scientist/analyst is not just about doing modeling or prediction. But the first step is to collect the data, understand it, drive insights from the data and the soft skills aspect of it to be able to convey and present your insights with data across to management. Not only for the purpose of understanding, but also for them to act upon it.

So to answer your question, I would say there are several ways of entering the field of data, it doesn't necessarily have to be a master's degree. And if you are thinking of taking an only local masters degree in data science, I would urge you to forget about it, since they are so new and do not really know what they are teaching too. It would be better to learn on the job, or taking courses online and try to apply it on the job. Soon enough you will find yourself out growing the data that your company has if hasn't undergone digital transformation, but you could use that skillset and knowledge that you have and apply to other roles outside of your company. Hope that helps.