BePostive, you should also post this on the Michigan and Penn forums as you will get more responses from students currently enrolled at both universities.
“Does University of Michigan education opens up same level of opportunities in job market?”
To answer your question, there are very few universities that open up the same level of opportunities as Wharton, especially the Jerome Fisher progam. Michigan holds its own, and it is certainly one of those universities, even if Wharton admittedly has the edge.
That being said, unless your niece’s parents are doing very well financially, that edge is not going to be worth anywhere close to $300k, assuming your niece’s scholarship to Michigan includes room and board. Even they have to pay for the room and board, Michigan is still going to cost well over $200k less than Penn.
Most Michigan CSE majors find jobs with the likes of Google, Apple, Microsoft, Amazon, Epic, Facebook, Oracle, Intel, Cisco, BCG, Bain, McKinsey, JPMorgan and Goldman Sachs. Last year, roughly half of Michigan’s CSE majors joined those companies.
http://career.engin.umich.edu/wp-content/uploads/sites/30/2017/02/guideforrecruiters.pdf
Below are a couple of programs for your niece to consider at Michigan:
https://honors.engin.umich.edu/egl/
Here are some links your niece may find interesting:
https://www.bestcolleges.com/features/top-colleges-for-startups/