I've been in 'the business' for 25 years, and I STILL ponder this question! I'm self-taught, so I've always had the option of doing 'anything', but just never had the drive to actually make the choice. I naturally drifted towards hardware/network support since I found it the most fun. I'm the sole IT person for a mid-size company, which pays fairly well although a lot of you would probably find it low, and the only certs I have are A+ and MCP's in Win98 and Networking Essentials (both probably expired). I even lucked into those because a client I was doing contract support for had the vouchers that were expiring, and gave them to me!
But that was then and this is now. Things haven't changed, you can still get a job on your merits, but it's a LOT harder. I LOVE Seonix's comment, '...completing a degree shows legitimate interest, ability and commitment to the subject matter." It's total BS, and something said by either ignorant people, or people with degrees. Usually Engineering ones. "If you don't have a degree, you must not know anything." One problem isn't that they're wrong, but that the statement IS true about 7 times out of 10. The other problem is they, or an HR person under their direction, are the ones doing the hiring, so their prejudice and ignorance suddenly become 'the way it is.'. This is one thing (of the many ;) ) I failed to understand when I was a 16 year old wunderkind looking to charge into the workforce, and thought those hiring me would be strictly professional. Often, they're not. It's your job to conform to them, at least at first, and not them to you.
As has been said, certs are the key to getting your foot in the door unless you know someone. Volunteering is another good way if you can afford to. For most larger companies and 'institutions' (academic, hospitals, government) you NEED to have a degree or at least a 2-3 year equivalent diploma. I took a government-sponsered course as a Programmer Analyst (figured doing network/support would be too boring), and that opened the door to a lot of interviews (and jobs) that never would have happened otherwise.
The best way I can illustrate is this, I was working as a team leader for a contract support company. In this particular job we were doing an overnight hardware/software upgrade rollout for a large call center for IBM. As team lead, all the glitches and issues came to me and were quickly resolved, so we completed the project well ahead of schedule. The local head of IBM's operations started talking to me, "Well, we have a few openings, and you are more than skilled enough for any of them. Where did you go to school at?" Up until I answered, "I didn't. I'm self-taught," you could SEE the fire in his eyes, he was so enthusiastic. Then that light just went out. "Oh. Okay then. Good job." He turned and walked away, and I never heard from him again.
PS: And yes, I NEED to clear some time in my overworked schedule to get something like the MSCE or MSSA certs under my belt. I'm sure that if something were to happen to my position here, I'd probably be right back to working entry-level support again, despite my experience. So let that be a guide...
PSS: Another thing to look for is 'the people factor'. If a hiring manager doesn't want you, they'll make up a reason. Lack of experience or education are convenient ones for them. Watch for this, and ask a friend to help figure out what else you can tweak to make it easier to sell yourself. Curbing your enthusiasm is also good. I wasn't invited back for a few jobs because the 'higher ups' were a bit intimidated that I was more skilled than they were, even when I was open and ready to help teach them. Once I started to 'play stupid' and defer to their judgement and 'wisdom' more, I started to get ahead more often.