<p>There is some truth to the idea of working at innovative tech companies, particularly where managers are former engineers. A West Coast tech company will probably provide a more enjoyable experience for an engineer than say, working in IT at Morgan Stanley. Incidentally, most innovative work isn’t done at places like Microsoft. It is done at smaller companies, which are in turn acquired by places like Microsoft. </p>
<p>Realistically, comp sci (perhaps coupled with a finance or math minor) is one of the few degrees that is a good investment. </p>
<p>Your concerns are overblown. Most people who talk about outsourcing are clueless and are rarely software engineers themselves.</p>