I find it interesting that even State Superintendent Tony Evers wasn't a fan of this. I believe what's wrong with the traditional masters bump is that it's not based on results. It's based on the assumption that the additional degree makes you a better teacher. Now, it very well might. But getting paid for the preparation and not the result is illogical.
Let me give you a for instance. Suppose I invest my own money in several additional show prep resources. Should my company give me a pay increase for that investment on my part? Of course not. Now, if I illustrate over time how much the show has improved because of that investment, I would hope the company would recognize and reward that. I should be rewarded for improving the product, not for the effort to improve the product.
If teachers take steps to improve themselves and then do, in fact, improve their performance in a measurable way, I think school districts would be wrong not to reward that.