getting all the modules by the end of your theoretical study (part 147) you will need only two year practical experience to became a B1 engineer. if you dont get the modules then you will stay as a mechanic .
engineers have a better job prospect and higher salaries
mechanics will do engineers dirty work and get a reasonable wage.
no offence to any mechanics i have been there my self.
by the way its not the degree that will get you the jobs but the modules in this industry
The diploma in aerospace engineering will possibly get you a job in an office in an airline