When it comes to business schools, the top schools are all large, well-known campuses, in large cities. And that makes sense from a business standpoint; Los Angeles is a far more conducive environment for business than, say, the suburban town I grew up in. However, while there are tons of benefits you can come up with for big city schools, there are a few other benefits that you won’t find in LA, but you could find in, for example, Ithica, NY.
Among these benefits are the stronger sense of community, and the stronger bonds that result from it. You can read more about these benefits on BusinessWeek.