Sounds like my ex.
She was a P.Eng, Phd, and a MBA. She seemed to think that it would lead to career greatness. While no doubt it helped, it was not a ticket and her personality of being a dictator and thinking that she was so much smarter than everyone else got her fired from numerous jobs - multi-degrees or not.
I know in my field - it's all about what you can do with your degree. You can be a Phd and still not have a clue as to the reality of the business world or how things actually go together in order to get it done and, therefore, you don't succeed. I have worked with a couple of Eastern European Phds that I'm thinking about and they figured once we landed a job, if it went over budget it was simply a case of "c'est la vie", that somehow worrying about money was beneath them.
From what I have seen, in my field, to be successful you need to be able to:
1. Bring in work
2. Know how to manage clients in order to keep the budget in the black
3. Know how to manage those who work for you.
In that order.
Just being good at production? That's what we pay you for.