Arctiidae - I don't have a masters, although in my area, it appears that most PhD students don't have a masters between undergrad and PhD. The problem with a masters is the issue of money - they're not cheap (as I'm sure you know), and it's probably not something I'm going to need, so it woulnd't really be economical for me. As for the friends thing - I think I made it seem something it's not. Most of my friends (the vast majority) aren't studying any more, it's just that I have three friends who are. I'm usually more of the type to buck trends amongst friends, rather than follow them - it does make me feel, however, that it's something I really want to do, and I'm not getting any younger.