Not because Caltech has a stronger CS program than UIUC, but beacuse of the sheer rep of the school and the fact that there are only like ~100 graduates from Caltech every year who are looking for industry job.
Many companies will be LUCKY to get even one Caltech graduate as employee.
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Academic career/PHD： Caltech for sure
Medicine/Business: UIUC might have a case here as it should be easier to get top GPA ( and UIUC has more breadth in program offering). But if a kid can do very well at Caltech, Caltech will still be preferred due to its superb rep.
Caltech is at the level of T5 in terms of rep; even more so internationally.
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Of course, the tuition difference should be considered for some families.
