Earlier quoted context omitted.
In my personal experience a solid work history is much better than a degree. Once you have it the value of a degree decreases significantly. Its almost entirely redundant. The only problem is you often need the degree to get the work history. I've also noticed as I start working with people who have their Masters and some with PHDs that people take me seriously. It's like... I must know what I'm talking about. How el…
Not having a degree does lock you out of some opportunities where HR uses it as a binary checkbox. We can go on and on here about how such policies are stupid and how you wouldn't really want to work at a place like that anyway, but the fact of the matter is not having a degree closes doors. In that sense, there is value to having one.
I don't even bother applying to companies that do that anymore as it's counter to my whole "make a personal connection at the company to apply" philosophy.