BS vs MS in Comp Fin and Fin Eng

From this thread (//www.wallstreetoasis.com/node/7435) it seems like CMU's MS in Comp Fin program is fairly sought after by i-banks, HFs etc.

But on the BS program website (http://www.math.cmu.edu/~bscf/), Goldman is recruiting only for OPERATIONS. What gives? Are the undergrad versions of these comp fin and fin eng programs worthless?

I'm just using CMU as an example; I really want to know out about Columbia's operations research/financial engineering program. Is that a one way ticket to back-office hell?

Thanks.