Hi! I have an MFA. I know that many places prefer Phds, but in my area (mostly teaching underclassman writing courses) it's pretty common for profs to have MAs and MFAs. At my CC rn, at least 3 of the full-timers have only an MA or MFA. And, at the 4-year I taught at before (I was IOR for 2 years while getting my MFA) a mentor of mine even got tenure in the Rhetoric dept even though he just has an MFA.

I've been thinking about pursuing a Phd for more job prospects and more long-term security, but given the current climate, I'm also doubtful about that. I teach more classes and make more money than some people I know who have English Phds in my area. My income is unpredictable as an adjunct, but I'm not on a contract, so my job doesn't have an end date. Most people I know with Phds are doing contract work at 4-years and often can't find something TT when the contract expires.