It depends on what level you want to be involved in, Traps.
If you want to be the one in charge (which entails deciding what you're going to research, designing the project, securing funding for it and generally being responsible for it) at a university research program, then you need a PhD.
If you want to be the one who coordinates studies, but doesn't necessarily design them--or at least never does so without a PhD behind them, then you could go as far as being a research coordinator or research tech working under a PhD professor. There is an off-chance that you could do some research as an MSc instructor at a small community-based university, but the likelihood you would be able to secure funding as an MSc is growing smaller and smaller as time passes.
In terms of lab research, it depends on the type of lab research you're interested in. You might be able to get a job as a lab tech with a bachelor degree in a relevant field if you have previous related lab experience.
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