It surely depends on the quality of your university. Some of the US colleges do no research and have very low SAT entry levels, so little is to be gained by doing a degree with those. On the other hand some institutions and degrees are highly respected and you will get respect yourself from earning a degree there.
The fact that existing CEOs and Chief Pilots do not have degrees is a matter of history which will change with time. A good degree does enhance ability to think objectively, and sort and assess complex information within a time frame. Although the university process looks different, it has many of the same needs of a management job. [It is nearly always those that don't have a degree that say they have no purpose].
In times of trouble when jobs are short it is probably true that those with degrees have a better chance of employment. While it is true that you don't need a degree to fly an aeroplane, the push from some sectors to underline this only serves to demean the profession of pilot, (and probably makes management rub their hands with glee as they only have to deal with workers of minimal academic background who have no idea what is going on).
horses for courses. I have a degree.
good luck
SB
Last edited by Seabreeze; 26th July 2012 at 09:53.