Management degree is recognised but the flying isn't. For many in NZ coming from Massey it is actually held against you. (Flying wise)
For the simply reason that the people that come out of there expect to walk into a 737 job at ANZ. Massey doesn't tell them about the transition from a 230 hr pilot to the couple of thousand required for ANZ and the likes. Plus the fact that their flying really isn't up to scratch. Maybe okay for the flight test but in the real world it isn't.