[pikewood]

I'm one who started with only a BS, and I'm at a top-20 public university in the US. It depends on your PIs, but I've definitely been appreciated on many of the projects I've worked on (e.g., listed with 2nd most ownership percentage on invention disclosures, which also won a campus-wide yearly award).

Admittedly, my path was convoluted; I started as a engineer to help with non-research software at a large lab, and got pulled on to projects via reputation. But I was replacing a Master's student who was essentially at the same academic level as me anyway. It does pay less, but I made the tradeoff for the quality of projects, which was worth more to me at this point in my career. It's still much more than I need, just not at industry levels.