Just so we're clear, the coding tests are in addition to credentialisation. I'll never forget when I worked at Big Tech (from Ireland) and I would constantly hear recruiters talk about the OK school list (basically the Ivy league). Additionally, I remember having to check the University a candidate had attended before she had an interview with one of our directors.
He was fine with her, because she had gone to Oxford. Honestly, I'm surprised that I was able to get hired there given all this nonsense.