Certifications + experience is what will get a good paying job, certs on their own might get you a decent foot in the door but you'll have to pull your weight pretty quick to stay there... I've interviewed many an MCSE that couldn't tell me what a swap file is and CCNPs that couldn't work out a subnet manualy and none of them got the job. You've got to be prepared to take an entry level position and work your way up, a lot of times smaller companies are a good place to learn as you can get your hands into many different things whereas if you get a job at Telkom be prepared to install ADSL modems for 3 years before you're allowed to look at a router.
The guy with 7 PC's at home running GNS3 and hacking the crap out of a linksys router I'd probably hire and send on courses to get the certs tho. Bottom line is you've got to enjoy the stuff so that you tinker with it on you own time if you want to enjoy it as a job and you have to enjoy it to be any good 'cos it takes a constant effort to stay up to date.
If I were you I'd aim for the Cisco qualifications rather than MS, I've done both and while its good to have a wider perspective if you have to choose one Cisco will give you a better job market I think...
If you're just coming out of school thinking IT is a good way to make money and thats why you're doing it, think long and hard about it before going down that road... You've got to be prepared to start studying now and carry on in one way or another for the rest of your career.