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Matt, I'm not talking about majoring in english and then wanting to go to get an MS in engineering (though I know people who have done similar radical shifts). I'm talking about someone who might get a BA in physics, then go to get an MS in engineering. Odds are they would be fairly well covered wrt necessary prereqs.
And as for the pedigree of the school, it isn't about starting wages, it is about effects down the road. For better or worse, some schools still command more respect in the workplace, either directly or indirectly. Performance of course is still a key element, and that will likely be the predominant factor. But never underestimate the eyebrows that will get raised 20 years after the fact when people see you graduated from Harvard, CalTech, MIT, etc. That isn't to say that one necessarily gets a better education there, but that perception is still out there.
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