I suppose the thing to ask yourself is, how would you feel if you took the masters then couldn't get a your old job or a related job straight away at the end of it? Although you will probably know better than anyone what employment prospects are like in your field and country. Would your employer hold your job open for you?
If I were you, I'd look to see if you could do a masters part time while working. That way you get the best of both worlds. I had a similar dilemma a few years back and went the part time route. The benefit of it is you can apply your masters to actual issues in your job, which might be of more benefit to your employer. The other thing is, whilst any scholarship at all is fantastic, there will be some costs to pay plus living expenses, obviously. Why pay out when you could earn and learn?
Unless of course money is no object, in which case, I'd say go for it, have fun!