Why don't you get those letters?
I'm not sure I have the mental tenacity to stick with a degree program for 8 years. Knowing how I am, I would probably do well enough in the actual courses directly related to the major, but become disinterested and do poorly in everything else.
I am not saying that people are wrong for requiring these credentials, I'm just saying that that's what precludes me from a research job.
Sadly, I think those jobs are mostly reserved for people who went through academic programs and have a bunch of letters after their name, so I stick around in the land of pragmatism.