In the UK i'd say that without a degree (unless you have like, 10 years experience) your options are drastically limited no matter how many vocational qualifications you have.
With a degree, you are in the game and will find virtually none of the other players have SCJP. For most jobs your CV will be beside about 10+ almost identical other CVs and I strongly feel that having SCJP can make the difference.
Purely from studying, I have found my abilities in interviews has increased drastically since my SCJP studies began, I now sound like a
Java Dictionary on legs...
Good luck
john