Keep on learning, have fun, and don't let ten years of experience be one year repeated ten times
I have not heard that before! Good advice, thank you!
Again it's good you want to study further, but why not spend a year, or so on the job, before going back to university again? I have had experience with those who have spent a lot of time in education, away from industry and they can be challenging to work with.
Yes, in some ways I think going directly into a PhD program without industry experience will work against me if I decide to enter industry afterwards instead of academia. I'm not sure there's a way around that if I continue this route, but I'm hopeful that if I'm humble and always willing to learn, then it will be less painful for those I end up working with, and I will be okay in the end.
For me, the PhD program is also less about taking more classes or improving my chances of employment, and more about having the freedom to do interesting research with some really talented people. One of the things the lab I'll be working with is doing is helping to develop the free and open source FPGA design flows. I got into FPGAs because of the free tools like Yosys, nextpnr, iceprog, etc, which just recently become available (2018 ish), and it excites me that I might have the opportunity to make useful contributions to the community. The lab is also experimenting with new dynamic partial reconfiguration techniques on FPGAs, and I'm also very interested in that as well.
So while this program may not make me a more employable engineer with lots of real world industry experience, I think it will allow me to explore certain areas with more freedom than if I went directly into industry. Looking back to my original post on this thread, I suppose my goals and interests have shifted. Originally I was very concerned that I might not make it through an undergrad program, and wanted to know if it was necessary to get a job. I thought PhD programs were completely theoretical, and I wanted nothing to do with them. Now I know I could probably get a job, (just about everyone else in my class got an offer), but now I know a bit more about the sorts of things I would get to do in a PhD program and it really appeals to me.