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Is the NHS STP worth it?

I will be going into second year, doing biomedical science. I was thinking of trying for the bioinformatics STP. I am wondering why I should go for this instead of MSc Bioinformatics as the programme is 3 years (I think) and the MSc is 1 year. I understand I will get experience and get paid during the programme, but is it worth the 3 years? Also, if I do the STP, will I be able to work outside of the NHS? What are the pros and cons of doing an STP and which would you recommend? I am assuming after the STP they tend to offer jobs so you don't have to actively look for a job, will finding a job after MSc be harder than usual? If not the NHS, where else can you find jobs to do with bioinformatics? Also, will I be able to get a decent job with decent pay without a PHD, only MSc Bioinformatics? I have looked online but can't seem to find answers to some of my questions.

Sorry this post is all over the place, but thank you for any replies