Well the most precise answer to your question is that it depends.
It depends on the MSc. It depends on the PHD.
It also depends on the particular professor, the particular institution and country that you live.
It is also impossible to predict the career trajectory solely on the ground of having or not a PHD.
That being said try to think of people you think have a successful career and check their academic credentials.
In fact usually a MSc gives you far more than the PHD. For instance specific service related licenses such as the right to exercise the profession of a doctor, an engineer or a lawyer. Just to name a few.
Getting a PHD in fact opens up a very limited set of career options on top of the MSc. Especially for an engineering Msc. For instance the more commonly PhD related careers:
- an academic career and
- a career as a researcher
If you do want an academic career then you do need a PhD. You can pursue a researcher career without a PhD although a PhD will help.
Identify the career trajectory you want to follow and ask peers of the industry for advice. Do not ask academic or professors about the use of a PhD unless you really want an academic career. Most professors need PhD students to run their research and labs, so they're trying to attract talent, the same way everyone else is trying to recruit.
If you don't need the PhD you can just leave. In a role that a PhD is not needed no one will care if you started or not a PhD as long as you do have the required qualifications. Your experience is also of outmost importance. After some years actual work experience outweighs by far the PhD experience.