Truthfully, after working with both degree having and non-degree having people who are equally as successful I see it really doesn't matter. I would actually go as far as saying any extra intensive school time can hurt unless you are going into a financial or medical profession.
The reason I say this is, for most professions, after you have a general knowledge of your chosen profession the thing that matters most is experience. If you are a college sophmore that knows the business extremely well you should be working in your field by either interning or another entry level position. Of course you have to have a certain amount of moxy to scmooze your way into your desired corporation.
If you started interning as a freshman and move up to a decent level by senior year you are 5 steps ahead of someone fresh out of school with a masters in hand. Most people should have really started interning your junior year of high school. It's hard for people to resist bright kids! You have to have a good idea of what you want to do though.
If you are entrepreneurial at all you are killing time in school. Stop hiding and come play the game!
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