Do employers value it? Yes, often more highly than A levels if a good grade is achieved in a very relevant subject area. Do universities accept it? Yes, if they judge it has prepared students well for the course they plan to study. It depends on the uni, the course and the relevance of the BTEC. Although it doesn't generally prepare people well for exams it can often be better preparation for independent study and course work assignments. Sometimes they may ask for a BTEC / A level combination.