There's always a post like this about articles like these. Market rate for people with master's degrees is still significantly higher on average. If you don't

There's always a post like this about articles like these. Market rate for people with master's degrees is still significantly higher on average. If you don't match the average, you are much more likely to get lower quality candidates apply to your job. If you, as you claim, pay them less than people with 1-2 years less education, you are pretty much guaranteed to get the worst candidates. This latter point usually ends up leading to "I've worked with so many people with masters and they are all bad!"