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Today, you can easily upgrade yourself through online degree program. If you are holding an associate degree, it's time for you to think about upgrade it to bachelor degree. If you are currently at executive level and have a bachelor degree in business administration, you may prepare yourself for manager position by earning a MBA.
In short, your working experience is important in your career path but a degree in your expertise field will secure you for your future. You have been working in a company for quite some times at the middle level of position. One day, your colleague who is at manager position submits his resignation for career advancement in other company. You think this is your good chance to be promoted to his position as you are the most experience employee in the company although you do have the required management degree for it; but the boss should and will consider your working experience as the promotion factor.