I'd say the software engineering side of things are a bit different, the interview process and testing "is the gatekeeping". It might impact your ability to climb the ladder when you're competing for Sr Manager positions with a bunch of MIT/Standford/Harvard/etc type of graduates, depending on where you live....

...but by then, you'd have crushed your early career and gone off and gotten a prestigious Master's Degree, or founded your own company and sold it to one of the bigger fish, earning your way into Sr Leadership...