There might be verbiage like "B.A. or equivalent experience" on the description, but if it is a managerial position I think 90% is B.A, 10% is equivalent experience. So, there may be no literal requirement, but there is still a de facto requirement.

Sales may be an exception here -- though I would hazard a guess that to sell software for IBM to governments and businesses, my above comment would apply. To sell real estate, though, nobody really cares (same for cars, etc).