Good advice above. You need the degree to move ahead, but real world experience gets you ahead in the computer field. I have a couple of friends that work for a contractor in town, each making a more than fair living, neither with any college, much less a degree. They got there through practical work experience.
An MCSE has become a good certification to prove you have basic computer skills, but most businesses will quiz you to make sure you know how NT/2000 reacts, and not necessarily how Microsoft says it will.
As for salaries, it's highly dependent on where you live. In Atlanta, and I think RoadRuner will back me up on this, just out of college with very little experience will net you about 35K. It's possible, but not easy, to live on that here. You can probably make more elsewhere, but be sure to check the CPI to make sure you can live there for what they are paying you.