Your side of things definitley
Admin jobs, no question, as a developer, only if that's the only way you can legitimately put a new buzzword/acronym on your resume.
You learn tens times as much doing one real application as you would doing a 100 lab examples.
I've thought about the degree having run into one or two muppets who thought I'd hidden under my desk for the last twenty years, then I re-engged my brain and realised they were too stupid to employ me properly anyway.
One pimp asked me which redbrick university I went to, academic snobbery at it's peak.