So you spent money and went to school. Some business (not-for-profit or otherwise) returned the favor by printing out 2 sheets of paper with "Master" on them.
Truth be told, your on-paper qualifications mean absolutely nothing to most -- especially HR departments. For the longest time, and this personal opinion seems to have lasted the test of time, persons with more degrees are actually *less* competent to do real-world work. Why? Because instead of sweating it out on the lower floors of an engineering factory to think independently and innovatively, they were cuddled with their frappucinos and $500 hardcover textbook on a couch with 5 different highlighters hoping to absorb the same 'experience.'
However, I do not agree with the OP at all. From my own multiple decades of experience, the good engineering managers exist and don't tend to quit; rather, they are kept and eventually promoted to more vital positions within their firms as the realities of the engineering challenges change. In other words, they adapt to the needs of the organization and eventually move out of the 'engineering manager' role... instead, they become things like Director of this and Vice President of that.