Choose SMU Business.

Background about myself: I studied at a US University and worked in the US for a while after graduation on a H1B visa. I didn't study business but I have lots of friends who studied in the B school. Btw, my alma mater is far better than IU in ranking, wealth, prestige and job placement.

Sorry to burst your bubble but IU Kelley is not a target school by any ranking. IU is in a backwater mid-western town(I have visited IU for the Singaporean Society mid-western games). Big Brand MNCs and Bank tend to keep their target school list to 10-15 universities and IU is definitely not in this list.

Finding a job is tough in the US. Finding a job for a foreigner is 10x harder. You have to prove you are much better than a similarly qualified American. It costs more to higher a H1B worker at a bank/MNC than a similar American because of expensive visa processing fees/lawyer fees. Expedited processing fees paid to the government alone is USD$2k and then you have to enter the H1B lottery. In the 2012 Lottery, only 1 out of 2 applicants managed to secure a visa. This lottery is pure luck and not based on ability. Most companies don't bother with the Singaporean H1B1 visa since it costs the same and has more restrictions/less benefits than a regular H1B visa.

A lot of my Singaporean friends who studied in the US decided to come back to Singapore because of their inability to find work. These are guys with 3.8/4.0 GPAs who are unable to find ANY H1B-sponsoring job in the US.

The pay really isn't that good to begin with. My first job out of University paid my 75k a year before bonus. This is USD$6250 a month. My federal + state tax + medicare + social security tax bill came up to 35% of my monthly salary. So after tax my take home was USD$4062. However, this didn't include any retirement saving yet. I contributed 16% to my 401k retirement account to get the maximum employer match. This left me with USD$3410 a month. On top of this, I had to pay for my car + rental + etc. In the end, I didn't save much. I was lucky if I could save $1000 a month.

I have now returned to Singapore and I think that's the best decision I have made. I save more money in Singapore and I get to see my family daily.