I am lucky enough to have this dilemma I guess, but I have been thinking/talking to people for a while now and still no closer to deciding.
Bit of a background first: International student based in NY, top 10 US finance undergrad. Did internships during undergrad in banking, and both quant and fundamentals driven funds in Asia. Decided to try something different after graduation and joined a large international physical commodities trading house. Came to the realization that I liked paper trading more than physical. My goal is to land a IM job after graduation but I have heard how difficult it is without prior full time experience (aiming to pass CFA level 3 before matriculation if it helps). Will probably try for BB IBD as well.
Now comes the dilemma:
Booth - Sizable scholarship. Students I talked to seem to really love booth. Awesome facilities. I wont mind living in Chicago for 2 years, will be a nice change of scenery from NY. But I heard about its limited international exposure and alumni network, and about 1/3 of the class stay in the midwest after graduation. Not that I will rule out staying there beyond graduation, but NY is just so much easier for personal and family reasons.
CBS - No mention of scholarship yet and probably going to be nothing. Biggest attractions for me are the NYC network, and the valuable opportunity to intern at small NY based IM shops during school time, which i imagine is crucial for a career switcher like me. Also many profs are practitioners who could be a great help in job hunting. Will be easy on my personal life as well, no need to move etc. The CBS building is downright depressing though, and some of the students/alumni I talk to are not very enthusiastic about CBS. Also the competition for NYC IBD and IM jobs will be more intense here.
Any input or thoughts greatly appreciated!