Experience and education are equally valid ways of advancing your career. But if asked which is the faster to way to get ahead. I would say that education has the advantage.
Opportunities can reach you through three basic routes: application, promotion and networking. Application would the the traditional job search, where you seek out existing vacancies and put yourself forward as a candidate. Promotion is a means of getting ahead within a particular company, where you are offered more responsible positions by managers who recognize what you have to offer . Networking is the third route. These opportunities that reach your ears through word-of-mouth from people you've met.
When it comes to applying for jobs, the right qualifications can open doors that are, if not closed altogether, are stiffer to push open without them. Even a small increase in the number and variety of jobs available to you provides more opportunity for advancement. Added to this is the fact that educational centers are often more aware of developments in the industry as a whole than isolated companies. This can give you an insight into where best to place yourself, not just for today but for what might be popular in the near future.
Then there's the question of time. Further education is not limited to full degree programs. There are also specialist modules such as 'IT Project Management' or "Fundraising" which can be completed in three to six months, sometimes on a part-time basis. Compare this to how a job you've only been doing for three or six months would be regarded. You would probably need at least two years of relevant work experience to make the same impression as a specialized course.
Both education and on-the-job experience provide an opportunity to network. Work experience has benefit of meeting people who are already employed in your industry and are familiar with your work. This is certainly how opportunities will come your way later on in your career. But it's a network that builds up slowly because it can take a while to prove yourself and make contacts outside your immediate team. If you're at the start of your career, or looking to change companies or direction, the classmates and tutors you meet in education are an instant network. The college itself is a networking hub with on-campus careers services, recruitment fairs and plenty of bulletin boards.
Work experience can be the better option if you want to work your way up through promotion, but even this can depend on the size of your company and the nature of your job. Large organizations sometimes 'promote' through advertising internal vacancies, which puts you back in the position of making an application and submitting your c.v./resume. Education can also improve your chances of advancement if you work in a technical field. Having formal IT training or an accounting qualification can tip the balance in your favor when new departments and special projects are looking for staff.
Education might be able to cut down on the time it takes to build up marketable skills, access to different opportunities and contact networks, but nothing can guarantee a speedy career development. Much will still be down to your own energy and abilities, and the just plain luck of being in the right place at the right time.