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McCombs all the way. The Aggie network is great, but having a tier 1 school's name behind your degree is much better in this job market.
McCombs MBA: 18
Mays MBA: T-33
McCombs Undergrad: T-6
Mays Undergrad: T-18
Mays is also a "Tier 1 business school" and is really not that far behind, in rankings, from McCombs.
There's no lieing, McCombs is ranked better, and may give you better opportunities upon graduation. I have heard from friends at UT though, about how they hate the size of their classes and how they dislike many profs because they seem to not care about teaching their classes (strictly speaking on undergraduate McCombs). Mays is smaller, and that could be better for the prospective student. That's about all I can say as I'm not a business student.
you shouldnt think that undergrad business is a requirement for an MBA!
MBA really cares just about GMAT and Work Experience!