It depends. There's probably a survivorship bias of some sort. You're probably not interviewing for someone to write a bleeding edge piece of software, so you

It depends. There's probably a survivorship bias of some sort. You're probably not interviewing for someone to write a bleeding edge piece of software, so you're probably looking for someone who's capable of showing up, writing some code and not killing anyone. I've found the reason people got the degree to be a bit more telling. The best performers were those who felt their knowledge was limited and wanted to gain more of it. The worst performers were those who got the degree and thought the whole programming part was behind them.