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You are right that degrees do not necessarily indicate ability but it does show the drive and effort to gain an education to back your experience up. I worked very hard for a long time in the field before I went to college and got my degree. I graduated at 45 with my degree and I feel it was the icing on the cake that I put the effort forth to validate with college my ability I knew I had. Many companys won't even look at you without a degree. If you are starting your own company it does not matter to anyone but in the work force today it does matter.