My kid is a current WashU senior. They are from the midwest, but has job offer with MMB firm in SW. In their friend group, there are 2 others with MMB offers (east coast), 2 with big 4 offers, 1 with IB in NYC, 1 with quant in NYC, 2 with CS offers in midwest and west coast , 1 marketing in STL and 4 pre-meds. I think most are going back to the areas they came from. Don’t worry about the alumni network being an issue.
Looking at the intern group of 12 from the MBB internship - there was only 1 from an Ivy/Ivy + school and 6 from top state schools. The rest were from schools somewhat similar to WashU (such as Emory/Vandy/Tulane) It seems there is a bit of a trend to not only focus on the Ivy+ schools for current interns. They were able to see the intern face sheet for all the offices of her firm and this trend was not unique to just their office.