IB/PE in smaller cities? Or as an exit? (Nashville, Asheville, Charlotte, Denver)

Burn me down if you want. What does the job market look like for IB/PE in smaller cities? Or would it just be pointless?

If the end goal is for 10 years from now to live in a smaller city to raise a family, would you start in that small town or exit into it?

And If you were to start there, what do they care about more - local prestige (T15 nearby) or national (M7/HBS)?

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