I don't think this is a fair comparison. First, neither a "sysadmin" or system/network engineer specifically require a degree, although a degree can be helpful in finding employment for either depending on where you want to work (Silicon Valley less requirement, government contractor probably going to be a requirement). And I wouldn't say either is more respected specifically, although you will often find that engineer is a career progression from sysadmin. However, I know many people that have made great careers and are highly respected in their field being sysadmins. I would say the engineer is like being the architect of the building, while the sysadmin is more hands-on builder and daily maintainer. It is more a preference of what you want to do with your career. If you like having a hands-on, maintenance, troubleshooter role then sysadmin is the way to go. If you like building, designing systems, planning, then the engineer position is the way to go.
