My take on this is a college education for moving up the radio ladder is not a priority. Sure it can help but I found it has much more to do with being at the right place at the right time. That took a strong network of radio people and an agreeable attitude.
To be honest, I began in a different era where all stations had a human in the building every hour. Plainly put, after a decade or so on the air and some programming gigs in small markets and lower end rated markets, I was forced in to sales in a city of about 40,000 working under a successful top 20 market GM that bought his first station. In a few years I was a GM at an AM/FM small market combo. A few years later I moved to a top 10 market non-rated station as Sales Manager. For 22 years I've been the GM of a top 10 market station...one of those just off the radar, so to speak, making good money producing a profit for the station and the stress is nil. I'd say I did okay. I'm certainly not a top name and don't feel the need to be. I can say I can fill almost any position in a radio station.
I am very passionate about radio. All my life I've loved radio. I'm always learning and trying to give a leg up to those looking to climb the ladder. I can't imagine going to work each day...I go play.
If radio is your choice, be passionate about it and not just about jocking. Learn everything you can and try everything you can. The more you know about every aspect of running a radio station, the greater the possibilities you will be the one the owner simply has to keep around because they'd be lost without you. It helps to be fully above board and treat a station as if you are paying the bills. By doing that you'll gain that trust you need from an owner. And if you play it right, you might get to become an owner.
I might add that almost every opportunity I took came from a friend in the business. In fact, my move to my current station happened like this: I called my buddy and he said his station needed a Sales Manager, something I wasn't sure I was ready for. At my interview my owner looked at my resume about 5 seconds and said he had one question: Did you and (my friend) work together at X station. I said yeas and was offered the job...no other questions. It was my friend's good words that landed me the job and even made me aware of the position in the first place.
At another position, I was hired for 2-6am because I was so bad. A few days later, the 6 to 10pm jock called in to say he was sick. I was standing there and was asked to work that shift. During my shift there was an incident at a station gathering and some employees went to talk to the owner. The GM promptly fired those folks that went to see the owner. The GM asked me to cover morning drive. At the staff meeting after my shift I was permanently on AM drive and became music director. My PD felt I was the most teachable and felt I'd do what he said without argument. And that's how I went from a small market to the second in charge in a rated market in under 5 days. It sure wasn't my talent but just my good fortune to be at the right place at the right time. I got that job via a friend that knew the PD.