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1) The guys who use you like a tool:
- Want you to know a specific language already and expect you to be able to churn out code like a bored Amish wife making butter.
- Don't care about how much "programming" or "conceptual programming" knowledge you know, rather just want the job done.
- Usually pays pretty low.
2) The guys at say... IBM:
- Expect you to know your conceptual programming knowledge
- Expect you to know at least one language pretty solid so that learning other languages (such as their legacy languages like PLMI) comes easy
- Expect you to ESPECIALLY know how to make your code run 100% efficiently (I.E. knowing performance statistics compared to other languages, and how they run native on some machines, etc.)
- Pay scale is usually pretty baller for a developer in this kind of field
So it's pretty much either one of those. It's useful when you know a lot of languages because its like having more tools on your work bench. If you don't know how each tool works or how it can be used outside of it's "functional" schema, then there's a problem. School can't teach you what you need to know necessarily, it can only provide the foundation for experience to be constructed upon. In other words, think about the job you want in the future (somewhere in the realms listed above), and then study accordingly.