I think that the main focus of getting degrees should be to acquire more knowledge to make quality impact and contributions that will be beneficial to the society. Although having in mind to earn more income from the degrees that will guarantee the holder a better financial future is good, but it should not be the primary reason for acquiring the degrees. I say this because to really make money someone needs to think like a business person, because an illiterate with a natural zeal and wisdom to make money, can make it and employ graduates with all the degrees to work for them. There is a tribe in my country, that is known to have very successful people in business, but most of these people are not educated, but they are very wise when it comes to making money.
Those who already have a certain educational degree with highly specialized knowledge in their field will of course find it easier to get a job with an appropriate salary, but this person must still be called a worker because he is not the boss of the place where he works. Meanwhile, people with a not very high level of education, however, are able to open a business to employ educated people in it because that person has the capital to do that. So he can immediately become a boss through the money he has without having to return to being a worker at his own place even though in the past he was also a worker at someone else's place.
The rate at which people are acquiring more degrees are not the way they're getting job offers, because it seems that demand for jobs now is greater than the supply of the jobs. Every year millions of fresh graduates are entering the labour market to join others that have graduated before them to compete for jobs that are scarce. The more you're getting more degrees, others are getting higher degrees to compete for available job offers, especially in developing countries.
In developing countries, there are also very many college graduates who move to other countries to look for work because there are very limited job vacancies in their own country and I see this very often in my country where every year there are always people who go abroad to looking for work after completing their education at a particular college. This is also caused by other factors such as the recruitment of workers who are related to fraternities, so that competition in terms of certain skills is no longer so visible at this time even though in other countries they still prioritize certain skills and levels of education when companies create recruitment to get new workers.