A question to employers?

Experience or qualifications?

Ability trumps everything.
Experience value is ephemeral, and it often hinders innovation. It's so bad, that I have to learn to not rely on it that much.

Experience says that doing something in way A is better than way B. Over time, however, things often get reversed.
The part of experience that lets you know all these ways to do a thing is good. The part that tells you which one to choose is bad.

There's a good reason why the most successful projects in history were done by people in their 20s. Relying on experience makes you conservative in software development, good ideas get discarded early on, innovative ways to solve problems are forfeited for "old but good".

Both experience as well as qualifications

Everything is about ability to do the job. Experience and qualifications are approximations of that ability.

Depends upon the type of experience and type of qualifications