For Engineering it would really depend on what you want to do in terms of coursework. USYD at least in aeronautical, has a large practical focus even if there is alot of theory (which is why I'm dropping it, I never wanted to do it as a career but find the theory interesting). Which university your degree is from is in most cases insignificant, the practical placement will show that you are able to transfer theoretical to practical skills, if you are good you will have a better chance of getting into that company, or there are a few subjects where industry peeps listen in on presentations.
If you are shit you won't get a job irrelevant of which of the two universities you went to. If you are good you will. I would also take close looks at employment figures, for things such as how many went into further study etc, which is not just "How many did not get jobs and thought it would increase their chance if they got more degree".