I find this "Education degree" based pay bias a little bit absurd. Of course, there is the demand/supply thing that should settle the equilibrium in a fluid job market -- but the reality is that non-software engineers that can also write software are underpaid. There is equal or more complexity in dealing with the interface of hardware and software (Robotics) as with any other "pure" software development task. I would love to hear more from the software folks on HN.
I think pay should be based on the specific job role not Engineering degree.
Edit: removed personally identifiable information.