Should I Accept or Reject the Offer?

I have an F50 FLDP-alike offer exploding next week. However, I really dislike the company’s location (can be offset by good exit opps) and the pay is not that high (~$70k in MCOL). I would prefer a role in a large city environment. I don’t know how many new positions are left for me to apply to and the job market seems crappy right now. Should I accept this offer or reject it and re-recruit?

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