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As a manager is expected to face many practical problems, the person who has the ability to handle situation practically will prove to be a better manager.
No school or colleges teaches anyone to use their common sense, which is a must for everyone, especially people in the managerial post. Therefore if a person earns a high degree, it does not necessarily mean that he will be the right choice for a manager's post.
It is also true that there is no guarantee that a person who has worked for so many years, may be more fit to handle a managerial post, unless the person has handled a variety of situations. Maybe he was not given the chance to prove himself in other situations.
So, this can only be known when both these persons are tested for their practical knowledge by giving them the same situations and asking what they will do in such a case. Whoever provides a practical solution will be the better person for the managerial post.
In this case, if both the types of persons prove to be competent, then it is upto the recruiter to choose their candidate according to the company's requirement.
Management is all about taking the right decisions ... Managers should be able to think outside the book and no restrain them selves to only what they have studies at class. Two people in your department could have the same problem yet the solution to each could be totally diferent than the other!
Therefore i believe that the more experience you have on the field with people the more are you able to evaluate situations and manage your department.
Never the less, one does need to have the basic educational levels pertaining to the nature of his work (BA in finance, Marketing, HR, etc...) otherwise chances of failior are high.
To rap this up in short ... The more years of working experience you have under your sleaves the better manager you are
