Can't say much about the hardware side, but for software I would say where you got your degree or in which program doesn't mean all that much. Like many others have mentioned already it may help you get your foot in the door, but after a few years its all about your experience. That being said, some schools no longer have languages like C/C++ in their curriculum and I find it difficult to offer an interview to anyone who doesn't know what a pointer or memory allocation is. Of course that all depends on the type of programming you want to get into.