It is quite different to have spent 5 years doing nothing other than building up engineering knowledge, and just learning a few things to get the job done.
It's not "just learning a few things". Some software engineers have years of experience on the job despite no CS education. In the end it's about how much value you bring to the company. If your diploma helps you deliver that value, great. If not, your diploma is irrelevant.
I'm always very weary of companies that tell me I'll earn more money because I have a PhD completely irrelevant to the job I'll be hired to do. It signals that they're valuing the wrong thing, and that doesn't make me want to work there.
It is the knowledge gathered along 5 years of studies, the activities that put into practice that knowledge and the certification of the quality of the teachings.
So, a credential? In the countries and states where the title is protected (it's not everywhere), you often have to pay dues to a professional organization to claim the title. It's not enough to have the diploma, you have to pay every year too.
You didn't get that I was hinting that countries that don't have strict rules about who can call themselves engineers invented the core tech behind computers ditto Ethernet which was US and UK.
It's an unfortunate situation honestly, because it pollutes the term "engineer" (at least for Europeans), when it's being conflated with "I just know how to code".
while it might to some seem slightly controversial, it would make more sense to argue against it instead of just down voting.
Would you disagree if people from the US did not need to pass the bar to call themselves lawyers, or the equivalent for doctors? Is it just because I compared this specific thing from the US in a negative light compared to EU?
At least in Europe things are a bit more strict.