To study or to work?
 

My contract is ending soon and I don't know if they are doing to extend it. What will be the best to do, to look for a new job or to start studying for getting a Masters’ Degree? Any advice will be appreciated!

Is there any big difference of what they are paying you now and what rate you can get if you have Masters? I guess there is.
Maybe it will be better to invest in your education and get the benefits later. If they offer you a raise and a long contract then maybe you have to rethink it. :)

I think there is a difference and maybe that's what I'll do. They will probably offer 3 month extension if any and in this case I prefer to study for 1 more year. I'll probably know something by tomorrow.

If you find a good job you will get promoted sooner or later and with that promotion goes larger pay cheque. It depends on the company you work for mostly, but with every promotion the salary increases too.

I would go and get that Masters!
You will be thankful one day that you did it! You will definitely earn more and will be more respected too.