My wife graduated with a bachelor's degree three years ago and took a job in the defense industry armed only with that. Her wage is in the mid-70s. She is 24 years old and has been on her own since she was 18 years of age.
And as an aside, I have a colleague whose only degree is a high school diploma. Bright guy, highly disciplined, loaded with drive and ambition. He's making six figures.
Sorry, the "Masters and Ph.D's are necessary" excuse doesn't cut it. It's just another lame sob story to avoid taking charge of your own life.