Thoughts: How much should someone with 2 masters degrees (MBA / MS) and 8 years of design experience make as a UX Designer?

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Impossible to answer. Someone in NYC or the Bay Area, especially working for a FAANG is going to make two to three times what someone in Dallas or Charleston is making. Then there is the job title, your specific experience, etc.

Location is key to determine that. But I don't have masters degree but i do have around 8 years of experience. And i make around $160k in Canada.

Also depends on what industry and how good you are as a designer. Do you have case studies in your portfolio that can show business ROI?

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