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I work in advertising, and I can tell you for a fact Masters degree don't mean anything in Graphic Design or IT.
I'm a web developer/ use to graphic design. All employers in fashion or advertising look at is your Portfolio website. That's the most important thing,
The beauty about web/graphic design or web developing that is you can teach yourself it with all the great tutorials on the web. And you can practice on your free time and beef up your portfolio.
If you have a Bachelor's degree and impressive portfolio, you will be hired. Maybe not full time( its a lot harder to get ), but there's a lot of temp work in that field.
I know of one Master of Computer and Information Technology program and it's definitely overkill for what you want to do. The University of Pennsylvania has a regular Masters in CIS program for those with the CS undergraduate background and then a parallel CIT track for students that didn't major in CS. The main difference is that that the regular CIS program has a 4-course core, while the CIT program has a 6-course core. After that all CIS/CIT students pick from the same elective courses, which include classes like Analysis of Algorithms, Machine Learning, Computational Linguistics, Computer Vision, etc. These programs are tailored less for students who want to teach and support Photoshop, Dreamweaver, etc and more for students who want to work at a company like Adobe actually developing or testing the software.