Many, but not all of the faculty do have advanced degrees.  I'm a part-time Prof and I have a Masters degree in mechanical engineering.  It really depends upon what people are teaching.  If someone is teaching plumbers, they would have to be a journeyman plumber, and if you are teaching in degree programs then you have to have an advanced degree in that field.

(BTW...most of us are not full-time and are not even part of the union.)

Now, what exactly are your extra-ordinary skills?