I got a distinction in a political communications M.A at Liverpool Uni in 2006 and am thinking about going back there to do a philosophy M.A.. I think i want to go into academia eventually but beleive that their is something missing in my 'tool-kit'. As i'm interested in political and philosophical issues, i think the philosophy course may help me develop my intellectual capacities. But would i be wasting my time? Should i just do a PhD? Or should i settle my thoughts for the time-being with some 'real-world' employment?

Hiya-your reasons that you've outlined above were similar to mine when I decided to do another MSc. I wanted to enrich and develop my skills which would help me practice psychology professionally. There will be people out there who will disagree studying for another MSc and perhaps go into employment or PhD, perhaps partly due to the financial constraints of an MSc. Speaking from experience and Im sure people will disagree with me, studying for 2nd MSc has opened many doors for me and has opened up an opportunity to practice psychology in another area if I wished to go down that route. I have put myself into further debt, but having another MSc has definitely helped me!