CPD23's tenth 'thing' is all about schoolin' and various pieces of paper you can get to prove you would make a good library worker. It's written from a UK standpoint, which means it is not so much of use to me.
Henceforth, here is some Canadian information:
There are two routes: you can study at school to get a Master's degree in Library and Information Science, more commonly known as an MLIS, or you can get a Library and Information Technician diploma. I went with the second route, as I was under the impression it would take less time and due to various vagaries of life, I wanted to get a move on.
I've heard a lot of conflicting reports about which is 'better', the degree or the diploma, and as far as I can tell it boils down to whether or not you want to be in management or not. That road is easier to take with an MLIS, but occasionally a tech will manage to rise through the ranks. An MLIS will probably net you more pay than a technician. On the other hand, if two people have the same skills and one can be hired for less money in these unstable times in the field, they're probably going to go with the technician.
As I understand it, there's some friction between the degree and diploma holders. One group might think the other doesn't know what it's doing or lacks the proper skills to fill a position. I'm not entirely clear, but I vaguely expect to be lightly sneered at by someone with an MLIS at some point in my career. My idea was that I could go and get a degree should I need one in the future. Money, possible debt, and time were factors in my decision. As I have mentioned before, my classes have been extremely useful in actual practice. I feel I am being trained very well.
The Canadian Library Association's Info Nation page is a good place to start looking for technician and Master's programs. You will notice there are more places to get a technician's diploma than there are to get a degree.
There is a similar friction here in the US between librarians w/ degrees and paraprofessional support staff. But as you mention, employers often hire at the lower rate but with the same expectations, so it doesn't make sense to look down noses at those without a degree.
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