College?

So I had a disccusion with my boss today about the necessity of a college degree. Is it truly necessary to be successful?? I always thought that was a no brainer, but if you take a good look at it, maybe it's not so basic. I have a decent job which requires the minimum of a Bachelor's...but at the same time there are Union jobs at my company which require a few tests and a high school diploma. Funny thing is, I supervise some of these employees and with the average amount of OT they can make 3 times my salary...EASILY. So I wonder...was it worth it?? There are many other examples we came up with, but heres food for thought, please feel free to comment...