To Grad School or not to Grad School

My current situation:
I am set to graduate college in December from a public state school (non-target) with honors and I have previously completed an internship in insurance underwriting. Sure enough, insurance underwriting isn't exactly what I want to spend the rest of my life doing.

What I want to do:
I am strongly considering going to grad school to further my education and hopefully obtain a better job than I would be able to without a Masters degree. I'll admit, I was very late to the Investment Banking and/or Real Estate train, so I feel as if my best chance to get a good job in either industry is contingent upon me completing a Masters degree.

My question:
I am looking into a MS in Applied Economics program at a private university. I think I could reasonably finish this in two or three semesters and I can choose to specialize in a specific area (one of them being Financial Economics which is most likely the way I would go). I have a minor in Economics so it is not completely foreign to me. Is this route worth my time and money as opposed to getting an MBA or not completing a Masters degree at all?

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