As a potenital employer, If I had 5 applicants and one of those applicants was certified I would look at him before I would look at the others. Being certified would mean that they could come in and hit the ground running with minimal training and familiarization of the local programming enviroments.
It can also be looked at as a tool. As developers continue along are carreers we are exposed to various languages and techniques such a HTML, XML, JAVA, Object Oreiented Programing etc. As your tool belt grows with experience and and exposure you will get more money. We all want more money in the long run but if you immediate focus is learning new technologies and applying these tehcnologies the money will come.
With the certification I would not expect to walk into my supervisors office and get a raise the day after I receive my certification. It will come in time and with patience.
I wish you best of luck in your IT Carrer.