I think for a first job education counts more, after that experience comes into play. I would guess that in the world of Academia, there are positions where education may be of more benefit.
Really for me, I try to hire personalities I think can fit the roles that need to be filled. The last guy we hired had less experience and less education than a lot of other candidates we interviewed. I figured the guy we eventually did hire was best suited to do the job we needed him to do. Granted he had fewer years of experience than a couple others, I think he had done more with the experience he did have. So experience isn't always measured by term of service. But a key thing I think is finding out if the experience is real, or just someone BS'ing you. Many resume's out there overstating peoples actual ability, both in terms of education and experience.
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"Some guys like old balls"
Patriots QB Tom Brady
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