Historically, with professional degrees you are totally correct. I think that's more because there's a professional organisation ensuring that people get reward

Historically, with professional degrees you are totally correct. I think that's more because there's a professional organisation ensuring that people get rewarded for better qualifications. I mean, PhD's are great if you want to learn how to structure and finish a long-term project, and learn how to research. I definitely don't regret mine, but I remember looking the the cost structure of masters vs PhD's and concluding that masters were for suckers as you could always just finish a PhD in 18 months with a research masters.