A writer, published in Wall Street Journal‘s Letters, responded to the idea that emphasis on education credentials over actual experience averred that the emphasis isn’t at all misplaced.
It’s more likely that there is a limited number of high-wage jobs available and that the market has efficiently set the wage based on the supply/demand curves.
This is a remarkably ill-informed claim, assuming as it does that we actually have an efficient market in labor.
Such a market cannot exist, though, in an environment where unions have monopoly power over labor in the industries in which they operate, nor can it exist in an economy with such widespread minimum wage mandates.
Since both of those exist, we are even farther from an efficient market for labor.