Not always though. I didn't get a degree but have had recruiters from both companies reach out to me based on work experience. Based on the conversations we had, it didn't sound like my lack of a degree was a big deal.
If you have the unique skills they're looking for, the top technology companies are willing to budge on the degree requirement.
I'm hoping to be able to work in Seattle next year at either Microsoft or Amazon and the main requirement they look at is whether the applicant has a degree in Computer Science or related field. Only after do they begin to look at personal projects/past accomplishments etc.
Not trying to say a university degree is for everyone, but for people like me looking to get into a top technology company, it's a requirement.