As degrees prepares you for the challenges in the outside world and the tools to handle them, work experience gives you the more than one tool to handle the challeneges based on the situation. Corporates definetly would look for people with degrees before employing them, a basic degree becomes the basic qualification, but after that the work experience is what matters, as the challenges and demands in an ever changing situation outside is so huge that a person has to be versatile in using more than one tool to handle situations.