I think HogansHeros is talking about terminal degrees. But not all positions require a terminal degree, and in some positions, a preponderance of relevant work experience can substitute. As I said, when I went to journalism school (at one of the top programs in the country), most of my profs were not PhDs or MFAs.
"You travel alone because other people are only there to remind you how much that hook hurts that we all bit down on. Wait for that one day we can bite free and get back out there in space where we belong, sail back over water, over skies, into space, the hook finally out of our mouths and we wander back out there in space spawning to other planets never to return hurrah to earth and we'll look back and can't even see these lives here anymore. Only the taste of blood to remind us we ever existed. The earth is small. We're gone. We're dead. We're safe."
-John Guare, Landscape of the Body