Pilot training or University (2011)
A good degree from a good university is demonstration that you can perform to a certain level intellectually and organizationally. The degree choice you made might also say something about the person you were when you were 18.
I agree with those who say that degrees shouldn't be viewed as some sort of "back-up". They're really not. Unless they're vocational and the structure exists to bring you up to speed if you've been out of the loop of the given profession for a long time.
Also, a simple truth of Uni education in GB plc circa early 21st century is that unless you do a good degree at a demonstrably good uni, and get a good award, then all you have is something that everyone else has, in line with current govt educational policy.
WWW said something along the lines of "different strokes for different folks" and in this he's right. Higher education isn't for everyone. I went to Uni and did Medicine, my younger brother scraped past his GCSEs, but has gone on to start his own tree surgery business. He spends all day getting paid to hang out in trees with big pieces of kit which he loves, while I get to go work in hospital on shifts, up until recently only seeing my missus every 2-3 weeks for any length of time, which I simply don't enjoy! The point is, he's doing very well, thank you, off the back of bugger all by way of a school education.
I think a big problem in GB has always been that people are expected to make big decisions about what to do with the rest of their lives at way too early an age. There should be a bit of slack to get out, do some stuff, and find out what you like.