Not in my experience. I'm sure some do but any decent employer would want the best person for the job. You can't assume it's that anyway, as there's nothing you can do about it. You need to work out what else might be a problem that you can do something about.
Are both your degrees and your post-grad directly relevant to the jobs you are applying for? Vocational possibly? If not, they may not be much of an advantage. Unless it's a qualification specifically required for the job, most employers will be and should be more interested in which candidates have directly relevant recent experience and can demonstrate the qualities/skills/experience and attributes they want.
Having a degree especially an academic one means you've spent x amount of time learning about a particular subject. It doesn't mean you have good interpersonal, sales, communication, management or other important skills for the workplace. You might have those skills obviously but don't assume people will be overly impressed by academic study unless as I say it's directly relevant and/or required for the job.
If someone is recruiting a school leaver and you send in a cv littered with degrees and qualifications, it is likely to put them off. They might think you will be frustrated in a lower level position, will be looking to move up or on quickly or may not take instruction easily from someone.
Make sure your cv puts work experience first, leave educaton til the end. Tailor it to every job you apply for to emphasise exactly what the job ad is asking for. Read adverts and job descriptions very carefully, don't just skim read, think 'I could do that easily' then send off a cv. Look carefully at what the job entails, and what they ask for in terms of skills and experience. Then review your cv and make sure everything they ask for jumps out at them really easily. Assume they will skim read your cv really quickly and may not even make it to page 2. The most important stuff needs to leap out and be at the top so a recruiter can easily and quickly tick off everything and put it in the 'yes' pile.