JavaKid posted "Microsoft Certified? ... Not Impressed!" to which I responded. I thought I would re-post my response here, in case anyone is interested in my view on the value of certification.
I agree that judging a candidate's skills and qualifications for a job based on their certifications is a bit absurd. No industry exam is going to be able to cover the practical skills needed for any given job. I also agree that Microsoft has been notorious for using its certifications to promote technologies and methodologies that went (or are going) nowhere. Does anyone remember Visual Basic ActiveX Documents (*shudder*)?
However, I believe that certifications, including Microsoft's, do have merit. What are they good for?
1. They help you get your foot in the door. Some employers faced with a pile of resumes may choose to use certifications as a filter, or they may place high value on certifications if they already have high-performing employees with certifications. When comparing candidates and all things considered equal, the candidate with a certification may have the edge.
2. Studying for a certification forces you to learn more about a technology (or different aspects) than you might otherwise learn on your own. When I was an NT administrator, I learned tips and tricks while studying for the MCSE exams that had a direct impact on my job. Studying for the MCDBA forced me to learn more about SQL security, which I would have probably never learned on my own, since I spent almost all my time developing databases, writing stored procedures, and so forth.
3. When I'm interviewing a potential candidate, a certification speaks volumes to me -- not in terms of technical skill, but in terms of aptitude, ability to set and obtain goals, and self-discipline, especially if the certification was obtained through self-study. Asking a candidate how and why they obtained a certification might give you an indication of their character and dedication towards a technology.
Obviously, some employers value certification more than others. My personal experience from both sides of the employment table is that certification is very much a worthwhile investment.
Oh -- maybe you should know that I worked for Transcender for three years, so I'm a little biased towards certifications ;)