I am a contract PC/Web applications developer working for a consulting company.
I love my job because it allows me creative freedom. Of course, I am atypical in my love of logic (programs are poems to those who appreciate their flow and interplay)
I also like it because it doesn't require me to take the "time clock" approach to work. When I wake up, I go to work, when I get tired, I leave. No one is watching my back.
Now, to answer the latter question, I could do this without a degree. Many do, the information boom has freed people with my skillset from needing degrees. However, simply because I haven't noticed a glass ceiling yet doesn't mean one doesn't exists. I have a degree which might render it imperceptible.