It depends. When things are booming experience is paramount and degrees can be unnecessary. My bachelor's degree was interrupted due to family obligations but until last year it was never a hinderance in getting a job that paid well above what my AAS should have warranted-- even at Nokia. I got credit for experience, certification, etc. But last year with the economic meltdown all that went out the window. I'm really lucky I fell into a job at all. Some of my former colleagues have not been as fortunate, oddly being told they're overqualified while lacking "the proper degree". Nuts.