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He does some consulting and for him I think they are worth it. If you are looking for work in a consulting environment, they will likely like that you have certifications, they like to brag about the number of certified people they have on staff, so getting somebody with certifications is good in that arena.
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Not only that, but a lot of consulting companies get their projects straight from HP, MS, VMWare, ect. That's their bread and butter and you only get that kind of relationship with a heavily certified staff.
So yeah, for that reason and other mentioned ones, certs are HUGE in consulting.