It depends on the circumstances, as every organisation is different to other. Some recruiter focuses on candidates with knowledge and by this they miss out the experience. For recruiter focus on experience alone will miss out the knowledge aspect.
Usually the job advertisements advertise for want of people with both high skill and tech -savvy. As the time passed with the more competitions raised more and more people with high skills, now the trend is to have both Education and experience in the relevant field. The idea is to get a person with cultural fit and technical skills.
It is required the candidate should have knowledge with a successful university degree or tertiary qualification. Achieving such academic achievements demonstrate the candidates desire to acquire competitive knowledge. What about the experience? In order to get Experience of those skills one should have worked in the industry. Otherwise it is just a knowledge.
Job advertisement advertise for people with both skills and knowledge. How can one from the university can obtain this experience? If then how can one get a work if everyone wants experienced people.
Irrespective of the job position could be a marketing or a technician, real world skills matters which is beyond the classroom experience. With the industry experience candidate can handle real world situations, issues, demands and customer feedbacks. This makes them high possibility to get the job.
Though experience counts but the candidate should have the knowledge to perform the job.
Recruiters look for candidates with blend of knowledge and experience. In order to confirm the skills, recruiters do interviews and tests to match their skills and knowledge.
Advantages of getting knowledge:
By getting the degree one may not get a job or a career, his intellectual and personality adds value. Able to apply for the jobs with the specific degree for the job.
More people competing with knowledge and if you have the qualification you can also apply.
There are some courses with hands on experience and knowledge, degree combined.