For the MIT graduates, it's not as much "finding a job" as "finding a job that they will take." Their standards are pretty high and in some markets, the downward expectations-adjustment process takes some time.
Also, as an MIT graduate myself, I can say that there are people who have Master's in Engineering in Computer Science and can't even be a code monkey.
It's a bit of a dirty secret, but at a lot of top schools with reputations for brilliant students, it's not always true of masters students, at least to the same degree. Undergrads and PhDs, yes, but schools often seem to see masters students as cash cows, because more of then pay full tuition (there aren't the same financial aid packages as for undergrad, or RA/TA stipends as for PhD students).
Though this doesn't relate to the situation in the linked article, which is someone who got both a bachelor's and masters from MIT.
I'm actually talking about people who did the bachelor's and master's at MIT (which is what I did).
Dirty secret: The world's best universities are exactly like the world's average universities in that they have a mix of geniuses, dunces, and a healthy mix in between. MIT has a right-shifted distribution, not a fundamentally different distribution.
This was also the case when I was in grad school in chemistry. A master's was almost worse than a bachelor's degree because it meant that you were either unable to make the grade for a doctorate or expecting special treatment for the same work undergrads would do.
afaik, MIT EECS does not have a 'cash cow' master's-only degree program. in order to do a terminal Master of Engineering (MEng) degree in EECS, you must have been an undergrad there as well. the only way to get a terminal MS from MIT EECS without having been an undergrad there is to be admitted into the Ph.D. program and then drop out after 2 years.
however, the practice of having a 'cash cow' master's-only program is fairly common amongst many other US universities
When I was there, this was true, and probably still is. I did an MIT EECS MEng and I'll be honest with you: its probably not worth it if you dont land a TAship or RAship that covers all costs.
Getting into the MEng program is not done by application and decision, its purely 'decided' by your ugrad GPA. The theses dont have any sort of committee, just your advisor signing off. Many advisors cant/wont pay for your tuition unless you are the Bomb so the key is if you can get a TAship, just keep doing that. 1.5 to 2 years later, write a 40 page LaTeX paper about something and you get an MEng
Personally, I did it because you get to polish off your ugrad degree with a bunch of fantastic grad classes and if you play it right, the whole thing is free and comes with a stipend. its a bit more education and lets you stick around but I wouldn't say its thought of as a way to boost income or job status.
Also, as an MIT graduate myself, I can say that there are people who have Master's in Engineering in Computer Science and can't even be a code monkey.