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From Valuing Another Degree by Jonnelle Marte

These days, however, as employers continue to cut spending, expectations for such higher pay could backfire when you're competing against less educated -- and less expensive -- candidates.

For example, entry-level teachers with master's degrees often have a harder time getting hired than those with bachelor's degrees because schools typically pay more to teachers with master's degrees, says Steven Rothberg, founder of CollegeRecruiter.com.

One of the best teacher's I've known was the wife of an army officer who had to move every few years. Despite her outstanding resume and glowing references, she had a hard time getting jobs because her years of experience made her too expensive.