[danielweber]

Of the top 5 developers I've ever worked with -- they are the X when I ask myself "what would X do?" when faced with a really hard problem -- 5 of them have PhDs in Computer Science.

Now, a PhD in CS is a bit of a double-edged sword. It's often a danger sign that someone has spent too much time on just one theory. I wouldn't recommend getting or using a PhD as a signal of being a good developer since there is way too much variance.

(Ob: I have also worked with great developers with no formal education.)