What I don't understand is why there isn't a standardized (proctored) test that companies could rely on, instead of re-testing each candidate themselves.
Couldn't FAANGs put resources together to establish an independent testing institute? Wouldn't that save everybody a lot of time and money?
Companies don't seem to find this sufficient.
Why is that? Would a board test fix this? I would back this idea if it would work, but I think it's crazy that I have a BS and PhD in CS, years and years of having my work vetted, professional experience, etc, and yet if I wanted to find a new job...time to leetcode.
University degree program do care about rankings, which entails some concern about the quality of graduates awarded a degree. But they mainly address that by filtering students at admission time. Some program still have weed out courses to nudge students into alternative programs early on. But once the student is committed to the program, there is a strong incentive to award a degree regardless of their demonstrated capabilities.