Nope , If you are interested in doing job at core cse companies then they generally prefer knowledge over degree.If any company specially wants CSE degree then you will not get opportunity over there .But if any company wants knowledge of particular domain , programming languages and if you have that required knowledge then you will be accept over there .
At last most important thing is that during m.tech course learn all needed skills , programming languages , communication skills ,soft skills so that your chances will be increases for your absorption into good CSE compeny .