In the middle of undergrad (1994-1995), I decided to sit out a year and work full-time. I got a job at a small factory in my town, earned $6/hr, and got about 10-15 hours of OT/week. Of my group of 5 best friends, 3 worked there with me. We loaded and unloaded 4x4 transfer cases and Northstar engine blocks in baskets for a Locktite impregnation machine. It was probably my favorite job of all time. I was 20 years old, made decent money for the time, got to work with my friends all day, and rode motorcycles all night. Great times.
After a year, I decided it was time to get serious about school. I finished undergrad (BS in Economics and Marketing) and for the past 12 years I have worked for an integrated health care system. In 2004-2005, I earned a Masters in Business Administration. I have been a Financial Analyst, Finance Manager, Budget Manager, and Controller. Even after controlling for inflation, I make multiple times more money now.....but I hate it. Corporate life is horrible.
Money isn't everything, but it definitely matters. A college degree doesn't mean you will have a great salary, but it helps. It doesn't mean you will have a job, but it helps. Take a look at the unemployment rate in relation to education level. You all know someone that makes a great living w/o an education, but let's be honest.....most do not.