The general rule of thumb for hiring and positions within companies and organizations that hire photographers is that the self-tought are at the low end of the financial scale doing the work and those with a degree and not necessarily in photography are doing the administration as well as the photography and earning much more money.
Wow. I'd like to see the study that shows that. Years ago, I was offered a job by a major tire company although my experience was in PJ work and I had no degree. This company's problem, as outlined by the person who made the offer and who happened to be a friend of my family, was that they couldn't attract creative photogs because of their rules. The studio was located in the main HQ building and the photogs, so as to not bother the pencil pushers, had to wear a coat and tie. They also had to work 9 to 5.
As a result they got graduates from photo schools who were technically proficient but artistically lacking. This friend, who happened to be the marketing director and had seen my personal work, tried to interest me by throwing a very nice salary at me. Unfortunately, coat and tie wasn't my style and neither is 9 to 5.
I started in photo with no formal education but that doesn't me I did not have any. I learned from reading manuals, trying things out, and mostly, from talking with other photos.
That doesn't mean however that I am against schools. It really depends on how YOU learn best. I'm good at learning on my own but some of us need the structure of the classroom and only you know which type you are. Be honest with yourself and you'll figure it out.
On the other hand, creativity is not taught in school. Creativity is something you have or you're going to learn on your own.
One thing from previous posts I agree with is that you can get a whole lot of gear for the price of an education. But if you are not the type to learn on your own, that gear will be pretty much useless.