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As for hiring them, I dunno about that. I think if they know that much, making them jump through the hoops of getting a degree is stupid
getting a degree is more than showing that you can do something. It shows that you have taken an interest in the topic at a higher level and are willing to work and learn to better your self at it. Having a degree/cert does not necessarily mean you know what you are doing, it just means you read the book and remembered what it said (book knowledge). Real world experience is a huge factor in getting a high end job (real world knowledge)