Experience Vs Qualifications: The Crossroad and Vicious Cycle

At 24, in South Africa, myself and countless fellow graduates are faced with the conundrum of job hunting for a position in local IB or following the route to business school.. The scope of potential employment opportunities in a country such as this is declining making it an increasingly competitive environment. As an extreme example I came across a job listing a few days ago for an equity analyst position with requirements including MBA + CFA (desirable), finance graduate, and 8 years experience, for a salary of 18 000 South African Rands per month (I'll let you do the math on the exchange rate...)

So at this point in the journey one has to make a decision, fight for a mediocre position in order to get a foot in the door to hopefully one day progress, or bite the bullet and continue Business School studies, specifically MSF, in the hopes that you'll get some recognition.

Would love to hear thoughts on this and different opinions and experiences.