When he was hiring for them, he often got snotty, narcissistic college grads applying for positions who couldn't believe they got turned down. Often after being rejected, they'd contact him and demand to know why. My brother was civil but blunt - he told them a college degree, even from a fancy school, was not as valuable to him as someone who had a track record of "an ability to do the job that needed doing". It is my brother's firm opinion that his own college degree (UCLA plus some grad school) did little for him but teach him two things - to do good reports and to study forward, i.e., to know what he didn't know and how to figure out how to learn what he needed to learn to get the job done. 

In many cases, the only time my brother would give any weight at all to a college degree was if two candidates for the same open position were equally qualified and one possessed a degree the other did not. Otherwise, he was not impressed with college degrees much at all.