“We're always going to look at the work experience first and how has that been enhanced through any advanced degree.”
AND
“Indeed, some of the same companies … stress that experience, not the degree alone, opens the door to jobs”
Sums up the article pretty much. A graduate degree with no experience is pointless. No company is going to hire someone with zero experience off the street at some lavish salary just because he spent 1-2 years extra in school. The grad degree compliments work experience, not substitutes it. Unfortunately, too many people are going to grad school because they can't find a job. When the truth of the matter is, if you can't find a job as an undergrad you probably won't make out any better with a grad degree. I still believe the grad degree is still useful in the long term, later in your career. For example, come management promotion time but it's not going to get your foot in the door. You have to do that by yourself.
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