Won't disagree with the first paragraph, that's certainly an option.
Basically, you recommend teaching yourself from beginner -> advanced/expert level knowledge in programming or circuit design and hope you can ship out an example that impresses someone enough to give you a job? Aside from the fact that the technical people are rarely HR (the ones you also have to convince), this sounds like a path highly, highly unlikely to work out for most people.
They are recognized well for entry level work. You're not getting a sysadmin job, but a help desk job is not out of reach. And really, in IT, you do have to start at the bottom. As a quick example, to work as a PC technician in most stores, an A+ is absolutely required. I have also seen people get entry-level network jobs on a Network+ (along with verbal statement that they were pursuing a CCNA).
Plus, really, the knowledge is required as pre-requisite for higher-level certs and you might as well get the piece of paper as well. You get to validate your knowledge for yourself, and if it helps with a job more so the better. Sure you'll spend an extra $300, but to look at it as an expense from a cost perspective, you can pay that off in a year if you can get $0.15/hour more for the effort... and that's pretty trivial.
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