I work with several people who have masters and PHDs in CS and they get paid the same amount as the guys with BS's/BA's and no degree in higher education at all

I work with several people who have masters and PHDs in CS and they get paid the same amount as the guys with BS's/BA's and no degree in higher education at all. I am a firm believer in higher education and I cannot for the life f me understand why anyone outside of academia would spend their time and money getting a masters in any IT related area, it's simply not necessary. My guess is they have an undergrad degree in some non-tech area like Music or English and think that getting a Masters in Tech is their way to a lucrative career and personally I think they are setting themselves up for disappointment. It's just as easy to get into the field with self-study and certifications as it is to get in the industry via a masters degree. There's no reason a young person should be going straight from undergrad to grad in CS unless they plan on going into academia (and that's another can of worms). Get a BS in CS and go to work, simple a masters without any experience makes you no more attractive to employers but it does make you poorer.