Generally it's not, but degrees are so commonplace nowadays that some employers perhaps use it as a simple filter to exclude the bottom of the intellect barrel [note: I'm not saying people without degrees are stupid, I'm saying people with degrees probably meet some sort of minimum level to have achieved that].
This was the conversation I was having with the recruitment depart in one of my pervious jobs. I told them it was stupid thing to have in the JD for a basic job. They couldn't get their head around why the department had such a high turnover.....Well, degree educated people are not going to stay working in a 24/7 call centre with unsociable working hours for very long.
After a while they removed that requirement and got more reliable long term staff.
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