Buy-side Offer in Different City vs. Lateral IB Analyst Move

I'm currently in a dilemma in accepting an offer. A bit of background: I'm a second-year analyst in an industry coverage group at a lower MM (think Raymond James / BB&T / Lincoln International / etc.), and I recently received an offer at a well-regarded buy-side firm focused on equity research (think BlackRock, Alliance Bernstein, T. Rowe Price, etc.). I'm also speaking with another bank for a lateral move (think Nomura, BNP Paribas, etc.) into their top coverage group.

I came from a non-target with a GPA below a 3.5 and the buy-side opportunity would give me a leg up if I wanted to go for my MBA, as the program is highly regarded and would give my resume the "prestige" factor it is missing. On the other hand, the opportunity is in a city that I am not interested in (the location wouldn't be ideal for most people, while the IB lateral move is already where I live and grew up in). I'm thinking about turning down the buy-side offer if I end up receiving an offer for the lateral move (while the buy-side offer is solid, the difference between that and the lateral move may be marginal enough to stay in my current city). Just wondering if anyone had any thoughts on this / if I'd be missing out on a great opportunity. Happy to go more into specifics on firms/groups through DMs. Thanks in advance!

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