In the US, bachelor's degrees are four years, and also include "general education" requirements. So in England, they would often expect you to do a 2nd bachelor's before doing a masters degree, whereas in the US, it would be a waste of time for you to do a second bachelor's, so instead they tend to give you "conditional" admission to the masters, but expect you to complete undergraduate (bachelor's level) CS courses before proceeding to the MS level courses. The bachelor's level courses don't "count" towards your MS, but you still have to complete them before you can start or complete the MS courses.
It sounds like you do have the opportunity to go work as a software engineer, but the pay seems too low to you. Instead, think of it like a university where they pay you :) As another person commented, the real value is the industry experience that you get, the (low) pay is just a bonus, so take it unless you actually can't survive on that for a year or so.
Even 1 year of low paid industry experience will be more valuable to you than a BS + MS in computer science in the short term. In the long-term, the skills you learn in an CS degree can be useful, but they get more useful the further along you go in your career, so better to learn them part-time as you proceed in your career.
So don't worry, take the shot.
My bachelors is in electrical engineering. I got into a part-time masters course in computer engineering. Due to work pressures and travel I dropped out. Years later with several years of diverse work experience, I got into a PhD software engineering program, successfully completed that and graduated. Both experiences at two of Australia's top universities.
I believe that my key to success was writing strong proposals in both cases and handling the interviews well. And in both cases I got adjunct teaching work as well.
In your case you appear to have a strong portfolio of work and teaching experience to support any proposal you may present. Good Luck.
It's deliberately set up as a conversion course. You study an extra semester and there's a lot of work.