how important of certificate is

Why All the big company request their employee have high education level...
but one things , is that certificate is important than certificate ?
As one of my friend said, certificate is just like a filter to a candidate apply their job.
Some how, a people who have 5 years experience with only SPM certificate, other is a fresh graduated in degree cert...
if you are the boss, which should you hired into ur company

Life is like a cycle
Born---> study ---> work ---> married --> work

end up.. u still need to work also

half part of ur life is working

some people said why not spend some time to study .since u working until u die

If you continue study until u get higher certificate..
but end up .. u still want to work as well

but if u study until 25.. was is too late in ur work field

but get high certificate can get high salary than non-education but high experince