Yes it is and also technical skills. People take degrees for them to improve their lives but if they've got the money and they are contented with what they have, they'll probably invest it and buy stocks and live happily ever till death. But in some cases, people take degrees for them to improve not only their skills but also their attitude or even gain friends and connections. With regards to MBAs or Phds, I think it's for promotional reasons and salary increase or/and self-fulfillment.