Hi All,
I undertook a Masters in Aviation Management following the Ansett collapse in 2001. I quickly found that log books and licences weren't really recognised anywhere outside the wonderful, but narrow, job description as a pilot.
I wrote an article on aviation tertiary education a while back, here it is.
Careers in Aviation, A Degree of Satisfaction. An Aviation Blog by Owen Zupp.
Personally, it was a very worthwhile experience, but I also recognise that everone's situation is different.
Cheers,
Owen