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That depends what type of It you are doing, Most of the stuff I have done is Diagnostic work, which really has nothing to do with common sense, it takes alot of skills and experience to be productive.
I personally think people with MIS degrees aren't to capable. No offense to them but taking 2-3 semesters of computer classes doesn't say to much. I have been told to get a Engineering degree, either EE or CS or both and get a MBA. This is by alot of people who Have the EE + MBA and they are all excessively successful.
Ive also met alot of MIS majors and they suck at what they do.
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If we were just talking about sheer rigor of the major, then I would agree with you that MIS is clearly less rigorous than CS or EE.
But that's not the real issue on the table. The truth is, a lot of the rigor you can get is strictly unnecessary. Frankly, you just don't need to know a lot of the things that these rigorous programs put you through.
Of course it is true that a lot of MIS majors suck at what they do. That is why it is important to get an MIS degree at a GOOD school.