The last two companies I've worked for have required 4 year degrees at a minimum and wouldn't even look at your résumé if you didn't have one or weren't working on one. I'd also say that 90% of the job postings I see require one as well.
A buddy of mine got a 2 year degree after we finished high school in 1986.
And now, he is having to compete against kids out of college with a 4 year degree. Even though he has 20+ years programming experience, the jobs will barely consider him because he does not have a 4 year degree.
Lately I have been considering going back into the welding field. Instead of welding I thought about getting a welding inspector certification. After all, with 15 year experience it should not be that difficult. Some of the jobs out there want a masters degree in metallurgy and/or masters degree in welding for a welding inspector job. The experience requirement was only something like 3 years.
I have met 1 person with a masters degree in welding technology. Even engineers working for chemical plants usually only have a 2 year degree in welding, then a 4 year degree in a related engineering field.
There has to be a line where the degree is not worth the time or money. A 4 year degree for a file clerk? Things are getting rather silly.