Don't have that much familiarity with either program, but from that perspective I know USC is better regarded for it's undergrad program and Penn is better regarded for it's graduate program.

SoCal vs. Northeast is a pretty big difference. Where do you want to work?

USC is a new program. Penn is not.

USC should be fine in SoCal for work, strong alumni and network. Penn should offer the same and likely more acclaim if you venture out of the area.

Thanks for the feedback!

Although I'm from Philadelphia, I think I'd like to try and expand my network towards Southern California after graduation. If I decide to stay in Philadelphia, I was thinking of making an effort to intern in SoCal during the summers since I have some family in that area.

Does it make more sense to attend USC and build a strong network in SoCal during my tenure? Or further build a solid network in Philadelphia and then try to venture out? 

Look at the programs and where you want to study the next three years. Realistically, Penn has enough prestige and probably strong enough of a network to get your name scattered across firms in SoCal if they hear something through the grapevines. 

USC is more geographically bound although it's not bad outside per say but I am sure the strength doesn't lie much beyond SoCal.

Thanks again for the feedback, verticalgaze. I think I would prefer to study in Los Angeles, but it may make more sense to go to Penn. From what I've researched and from what you have mentioned, Penn seems to have a stronger network and more prestige in the case that I decide to venture out after graduation.