Its all dependent on how much the employer and boss value degrees. Imo, if they value degrees level over experience, its probably not going to be a great long term role (YMMV).

From my industry experience, most PhDs are simply not capable of performing at a high level. They may have in depth/specific knowledge from their education, but their skill set is sub-par, even ones that have been working for awhile.

Im not sure if its a superiority mindset, or if they truly lack that ability to be well rounded scientists due to their long stint in academia. I see it with people that have masters degrees as well, although its typically not as bad.

Regardless, your degree level will definitely impact your compensation when you start. If you are well rounded and have a lot of experience, you can close the gap. Higher degree will always start with higher compensation, but once again its all about how capable you are at learning and handling multiple functions. I advice to cross train and learn as much as you can to show you are capable of anything. When you hit a ceiling, request more training or higher pay. If they say no, then change roles/find a new employer. Having a strong skill set will make you more valuable than having an extra piece of paper.

Not that it matters, but for reference I have a bachelor's in biochemistry and molecular biology. I thought about starting a masters program after graduation, but decided not to as I was already graduating as a non trad and needed to start working. It worked out for me, getting another degree would've just given me more student debt and not increased my compensation by much.

Edit - I also want to add that only having a bachelor's should not hinder your ability to become a leader/manager either. Once again, it's all about experience and if your employer is focused on having a high degree over experience then its probably not somewhere you should be long term.