From “Walker” in the comments at the Slate Star Codex blog (“Scott Alexander”), which had been discussing the overemphasis on college degrees as a prerequisite for mid- to upper-level management jobs that some persons without degrees could perform very well:
I am a mid-level engineering manager for a very large aerospace company. Their rationale for requiring degrees is clear and I suspect it is shared by many companies. They prefer to hire all of the skilled employees as “exempt”, meaning not subject to fair labor standards laws and not eligible for overtime. The state and federal labor overseers require that the company have well-defined rules for distinguishing exempt from non-exempt and the company uses a degree as one of the primary criteria. The HR folks will absolutely not allow deviations from this policy because it would jeopardize the entire company job category structure. I can cite examples and details if anyone is interested but this is a really clear policy across every place I have worked.