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Don't you perhaps think that it is more a case of people assuming they can do IT because they think it's easy, rather than people not having a degree?
If someone has no idea what is going on, then they will not know what is going regardless of whether or not they have a degree. Of course these types are far less likely to have a degree. But somehow I have still ended up working with people who have Masters degrees who are completely useless and other people without a degree who are brilliant!
However, I do think that it is necessary to have some form of professional qualification, it just shouldn't HAVE to be a degree.
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It sounds like the first requirement to be brilliant is not to have a degree 
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Of course there are people who have degrees who are brilliant too
But the question is whether or not they are any more brilliant based on the fact that they have a degree??
btw, thanks for the link to thedailywtf, I'd never heard of it and I'm sure it will help provide countless hours of humour 
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Paul Watson wrote: I finished school and got a job straight away. The only problem I have come across for not having a degree is getting work permits abroad.
I have a Bachelor's degree, and deeply regret not pursuing a Master's when I was still young enough to do so 
It all depends on the university I guess. Education (at the proper institution) rocks!
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What would a masters have gained you or is it a personal interest/achievement thing?
(BTW my sister got her masters. She has spent the past 8 years studying.
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Paul Watson wrote: What would a masters have gained you or is it a personal interest/achievement thing?
I lack theoretical depth in certain aspects of programming, and a Masters would have helped me by giving me direction and a reason to study those areas better. I could buy a few books and read up on my own, but since there's no clear direction, it's hard to push myself to do that.
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Paul Watson wrote: BTW my sister got her masters. She has spent the past 8 years studying.
Woah! I meant a regular 2-years Graduate degree (Post-Grad for Indians). What was she doing those 8 years? Is it some sort of path towards a PhD?
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A degree is 4 years, honours another year and masters about 18 months. The other time she was studying theology. Her masters is in botany.
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Paul Watson wrote: A degree is 4 years, honours another year and masters about 18 months. The other time she was studying theology. Her masters is in botany.
That is some academically oriented sister you got, Paul! She averages out your high school level, and keeps the family median at a graduate level 
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