Ok, I found out that I made it off the waitlist at Maryland today with full funding. I am also in at Michigan State with slightly higher funding and no work requirements for my first and final year. I have a strong preference for placing in academia when I finish my PhD, but not much preference for the "prestige" of that placement (i.e. I just want to be a professor somewhere!).
Main pro's for MSU:
1. More interested in the research being done by MSU's labor economics group than Maryland's
2. No work requirements in two of my years
3. Cheaper living; slightly more funding
Main pro for Maryland
1. Better placement, especially in the past year or two
Would it be crazy to let that one pro at Maryland prevent me from choosing Michigan State? Thanks for any feedback!