Yes, becuase the person with the bachelors degree is obviously going to leave at the first oppurtunity and be unhappy about their salary and responsiblity the entire time. Filling a position costs money so best to do it less often.
what if their bachelors is in fine art? My assistant has one of those, and I'm a lot less worried about her leaving than my support guy who has no degree but quite a lot of *NIX experience.
My point is that a degree does not necessarily impart more upwards mobility than other kinds of less formal training.
