Full time job + part time study

[curiouscat]

Hi, new to this.... a little background:
-Diploma in Engineering, GPA: 3+
-3yrs of working experience as technician
-Base pay $2,700
-Study part time engineering degree (honours) in one of the private uni

Question:
-Will employers consider grades of the degree (i.e. pass honours degree)?
-Will the new pay be adjusted according to your degree (which is same as fresh grad starting) or working experience or both (potentially higher than fresh grad starting pay)?