I struggled with the same questions, both when I was in school getting my Bachelor's and later while working (I'm 26 now, and still haven't come to a conclusion). I was doing my Bachelors in CS at Stanford, and having a great time of it. I didn't see a reason to stop, so I applied for the coterminal Masters program, in which you just keep right on taking classes. I started being a TA for CS classes, and enjoyed teaching. During the summers, I did internships all over the place, and had a good time doing it.
After a couple of years, though, I started thinking about what the goal was. I didn't actually have a reason to want the Masters: it was just a way to keep taking classes. So after five years I had my Bachelors and was partway to the Masters, but I'd had enough. I took a job at Microsoft as a developer, and have been having a great time at that, too.
But lately I've started to think again about what the goal is. Do I want to be a dev forever? I have friends here where that is absolutely their goal. Do I want to run the company? If so, I can either get an MBA, or try to start working my way up through the management chain (there are a bunch of VPs at Microsoft without MBAs). Do I want to do something completely different? I've thought about joining a start-up or working for a consulting house. Maybe I could swing working in another country for a while. The good news is that there's no deadline... I don't need to have this all decided by the time I'm 30.
So look around and figure out where you want to be in five years, and then figure out where that points you for twenty years out. If you're unhappy with that, start thinking with longer horizons in mind. I'll be honest: I've never missed my CS Masters. If I go back to school, it'll be for an MBA.
If your only goal is employability, you're barking up the wrong tree anyway: lawyers are basically always employed, and make more than I do as well. So start figuring out what's important to you besides being employed... I'm guessing it's a longer list than that.