I did the co-term at Stanford about 6 years ago, though my goal at the time wasn't to go start a company or freelance right away. I'm personally glad I did it,

I did the co-term at Stanford about 6 years ago, though my goal at the time wasn't to go start a company or freelance right away. I'm personally glad I did it, and not because of any resume-padding or salary-boosting (I already had a job at a startup where I worked part-time while I did the co-term) but simply because it was a great opportunity to learn a lot of stuff. I knew that if I didn't do it right away, I'd probably never really want to go back, and I'd also never have another chance to do it in just one year. There are just a lot of things that are harder to learn on your own. Want to learn SQL, OpenGL, TCP programming? Read some web pages or some books; you don't need a class for that stuff. Want to learn how to write your own database, rendering engine, network stack, compiler, or filesystem? Take a class. Especially if your goal is write enterprise software, which inherently involves building large, complex systems, some of those things will come in handy, if only by exposing you to new ways of thinking. My experience has always been that the practical stuff is easy enough to pick up on your own, but the theory is always harder. It can be done, you'll just learn it better and faster from a good professor. If you've already taken all the 200 or 300-level courses in CS at Stanford that you want to take, I don't think you'll get much out of the MS. If there are a lot of those courses that you haven't taken and that still interest you, it's worth doing. If it's just a pure business play it's not worth it.