Hello and thanks in advance for the input,

I have been accepted to McCombs and am waitlisted at USC currently. I am pursuing a part-time degree but this question does not pertain to FT or PT. I have lived in Southern California all of my life, and plan to eventually settle here. Thus, USC as has been said over and over again will have an incredible alumni network. But I am still torn (assuming I get accepted). Followed are some stats, all rankings are US News:

Full Time Ranking:
Austin: 16
USC: 20

Part-Time Ranking:
Austin: 7
USC: 7

Ranking of Finance department:
Austin: 15
USC: 20

Ranking of Entrepreneurship department:
Austin: 9
USC: 7

Ranking of Management department:
Austin: 19
USC: 22

Average Starting Salary on West Coast:
Austin:$105,000
USC: $94,000

Average Starting Salary in North East:
Austin:$100,000
USC: $95,000

Average GMAT:
Austin: 645
USC: 623

Cost of living in Austin:
Housing costs: 63% less than LA
Groceries cost: 15% less than LA
Transportation costs: 16% less than LA

What is going to be the best option? I will be moving to the North East most likely for 2-3 years post graduation (my wife will be attending an MFA program) and then back to So-Cal for the remainder of my life. By the way I am most interested in finance and entrepreneurship. At McCombs you can only major in general management but in the interview the resources for pursuing knowledge and experience in these areas seemed very extensive. Both McCombs and Marshall have strong placement and recognition in California and the North East, but Austin grads seem to get higher salaries. But people are OBSESSED with USC and have always been all my life...

Just interviewed with Chicago Booth last week, and am waiting to hear back from Stern and Ross. If I get into any of these this discussion will probably be a moot point. But I appreciate the input.

I love Austin and the campus culture at UT. Rankings and career stuff being somewhat equal, I'd prefer to spend two years at UT. It's hard to say how great the USC network really is. They certainly market the hell out of their LA network, but I think that UT is a stronger program nationwide.
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As someone who's waiting on a decision from McCombs, I think you should definitely wait on USC's decision.

Just kidding, but I would go with your gut, because both have great schools. Good luck with your decision.

McCombs has better national recognition, and it has the entire southwest region on lock. Marshall has regional reputation and is out shined by Anderson in SoCal, by Haas and Stanford in greater California.

Also, USC isn't located in the best part of LA.
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I agree with the above re: your long term goals and enjoyment of SoCal. Both of those are the exact reason I am going to McCombs (live in TX, want to work in TX, plan to be in TX). With respect to the GMAT, the OP was using the part-time numbers.

McCombs.. if you end up there it is going to be helpful if you start spelling it with an "s" at the end. Joking aside, I think they are peer schools and neither carries any significant weight outside of their respective regions. So it should come down to money and post-MBA job location preferrence.