Hi, I am currently a Computer Science undergraduate student. I am in my final year so this is the time which I have to decide whether to further my studies to obtain a master degree, or to start working. The master degree program in my uni takes two years to complete.

So what do you think? Is a master degree important in the IT world? Or it is better to start working and gain some real world experience?

Masters will always open more doors for you whether you want to work, teach or do some research. I think employers also give preference to people with Masters.. I'd suggest you to go ahead and get your masters.

A master's such as an MBA is worth it, but at least IMO a master's in CS doesn't really get you all that much unless you later go on to a PhD. Here's the test - check the classifieds for mid-level and senior-level positions in your field of interest. I'll presume that all of them will list a Bachelor's as requirement, with only a tiny few indicating "Masters preferred" or "Masters required". OTOH if you have a PhD, even more doors are open to you (especially if you have an interest in a career that involves significant research or theoretical work, example = Google). Don't get me wrong, I'm not suggesting you should abandon any academic plans you may have, but in my experience, Masters are worth the time/effort in non-technical fields, but they are less so in tech fields unless they are used as stepping stones to a PhD.

Again, this is just my opinion. Good luck with it, regardless of what your choice is. -- J.W.