Penn engr 3.7/5.0, Wharton 4.8/5.0. (The difference of Wharton & Sloan is small, but the difference of engr rep and overall school rep is larger).
So MIT with Sloan > Penn M&T. Very simple math.
Plus, you would recognize a MIT kid as "graduated from MIT".
M&T students will be recognized as either "he is from Penn", or "he is from Wharton". (Most likely he will be known as a Wharton kid). Nobody outside the circle cares about M&T.
Not saying Wharton kid is not a great title (it definitely is), but MIT kid is at genius level
Of course in finance world, the Wharton name is as strong as H or MIT(or even slightly better), but in general terms, MIT still wins by a good margin.
I know at least two kids picked S, M over M&T.
Both schools can get a kid to a great career path though (little difference there).