harvardbruin
Thanks for all the feedback, guys. It's been very helpful. Based off of past threads I've read, along with this one relative to my own wants/desires, it seems UNC gets the nod over IU.
However, perhaps a more interesting question is Penn State vs IU. IU has the better rep and program, but PSU is closer geographically to where I want to be (NYC or Boston). What do you all think between those two, as both will be significantly cheaper for me in comparison to Kenan-Flagler.
I don't follow how if KF > IU then PS vs. IU is on the table. Either way, geographic proximity being helpful is somewhat of a myth - you just need the target company to have some sort of linkeage to your program.. even 1 alum will do. Prestige matters more than I thought coming into the program... I would honestly take KF if you can find the debt capital to cover the difference.
The amount of contact you have with people in a local city is diluted by the probability that several of your classmates have as well. Contact with firms means little, you need to make a connection with someone at the firm so they'll go to bat for you when your resume flops across a decision makers desk. With a multitude of class mates trying to make that connection with program alums at the target company, you're not likely to be those alum's first choice (pure #s) and this proximity does little beyond "well he lived around here for 2 years, it'll be an easier transition". If you go to a program further away that still has alums in your target companies/cities, then the probability of the same number of classmates reaching out to them is dramatically lower. It's harder for you to 'visit' the company but the likelihood an alum will go to bat for you specifically is much higher because you're one of the few students to reach out to them.
TL;DR: Geography is a bit of a myth. It isn't easier to get to city Y from school X because there are more alums there, provided it is the case that everyone is following that logic. The ratio of School X job seeking students/ School X grads matters massively more than raw numbers.