I suspect that it depends upon where you are in your career. Clearly it's not vital, but will it help?
If you are at the start of you career, then I'm quite sure it won't help, the airline is mostly interested in your capabilities as a line pilot.
If you are a captain, hoping to try and move into the management side of your airline (not the only career route, but a valid one), then whilst not essential it's likely to help.
Then the question is when do you do it. I'd suggest that if there are part-time options, get on with your flying training, then once you are in the seat take advantage of the quiet times (I'm sure you'll have them) to pursue these further academic qualifications - such as something like an MBA.
If the only option is to do it full time, then you have a difficult decision - because if you're worth anything as a pilot, what you really want to do is fly aeroplanes. So, either you defer your airline career for a while, or store up a career break later, or just accept that it's not the best thing for you.
Which doesn't answer the question, but I hope may clarify it a bit.
G