Most airlines in the world have pilot managers. It is important to the well being of the industry that these managers have experience and training in other areas than the actual flying of aircraft. Safety management, Human factors,Airline economics, route planning and basic tools such as statistical analysis come to mind. A good degree programme covers these essential areas and many more. This is where University education should and does score in recruitment.
On another issue, those universities that don't teach licence subjects as part of the degree, add academic rigour and extra value to the process. Look for those.
(Posted by a non degree holder)