http://mobile.nytimes.com/2014/02/23/opinion/sunday/friedman...
So no, using a degree isn't useful for hiring engineers apparently
Which seems a fair criticism to me. Google's hiring process may be as wacky and broken as any other corp, but they're a big name, and will attract a lot of very good applicants.
So "People who got succesfully got hired at Google, and don't have a prestigious degree, do about as well as people who got hired at Google and did have a prestigious degree."
If you're on the outside looking to get a job, you'd probably want to know what percentage of Google employees had prestigous degrees, and what other resume filling achievements the non-prestigious degree crowd had before basing any life decisions on this data point.
Is using a degree useful for hiring medical doctors, mechanical engineers, actuaries? It's really hard to believe that only Computer Science as a field has a problem where it's churning out people who are technically incapable of programming to such a degree that you need to explicitly test them in interviews through "puzzles".
I know for me and interviewing programmers my personal experience is the degree doesn't matter. I've met plenty of degreed "engineers" who couldn't program for shit from schools like MIT and Harvard. I've also met some amazing programmers from those same places. I don't know what make the difference except possible love of the activity. Not sure how to asses that in an interview or whether it correlates better with outcomes.
Likewise, some of the best engineers I have met were self-taught and curious.
Interviewing someone at that point, I'd expect the employer would be more interested to see if they're a good fit for the company culture and not waste time on academic trivialities.