A few years into one job, my coworker (the one who interviewed and hired me) asked me over lunch "remember fizz buzz?", and I was like "No, what's that?" He explained the problem and I wrote a simple script with modulus and nested ifs that seemed to work. I asked him what the point of it was and he didn't know either. Then we went back to work and never talked about fancy algorithms again...
But the flip side of this anecdote is that I'm still just a web dev. I would never call myself an engineer, software or otherwise. I also don't get paid much (by tech standards), even though my salary is high by my own standards ($25 to $50 an hour, hacking together PHP and now JS scripts). Terrible for an ivy league comp sci grad, not too bad for a self taught high school dropout.