A college degree is generally required for advanced academic programs such as PhD and Master's degrees, as well as for professorships. For many jobs that are perceived to require a degree, having one is often necessary for securing a position that offers a salary capable of supporting a family. However, there are notable exceptions in skilled trades, such as electricians and auto mechanics, where individuals can achieve financial success without a college degree. The discussion emphasizes the varying requirements for different career paths, highlighting both the importance of degrees in academia and the viability of alternative routes in skilled professions.