The phrase "equivalent qualification" means having the same value or level of skill and knowledge as another qualification, even if it is obtained through different means or from a different source. Full definition
If an employer is trying to choose between people with equivalent qualifications, then what they have done outside of studying becomes important, and this is the situation for most graduates. (inspiringinterns.com)
For a primary school teacher, a degree or equivalent qualification in early childhood education may be necessary. (jobdescriptionandresumeexamples.com)
However, to be admitted as a solicitor, you will still be required to hold a degree or demonstrate equivalent qualifications or experience. (lawyer-monthly.com)