Having a degree these days tends to have no impact on your earning potential though it can make it harder to get in the door at some places. If you're good you'll be able to get paid what you deserve. While some would say the market is over saturated at the moment at the top end I think there is a real lack of good designers and developers. Working for a firm though that out-sources everything while being good for your bosses isn't really going to help your career.