Hello guys, I'm an last year undergraduate student who's currently wondering if I should study locally or in the US for my graduate studies. I have two possibilities : doing my Ph.D at my local school (currently attending as an undergrad) or doing a Master's degree at a top canadian school, then apply to a Ph.D in the US or at a canadian school. The local school where I could study has a great reputation locally and has had some decent local placement, although I believe a Ph.D from a "top" school would signal better than that for academia, which I am interested in.
I'm a student who probably could get into a very good school (not sure about the range, but a top 10 is a possibility according to some economists I have contacted) in the US after my Master's if things go well. The problem is, I have no interest in living in the States long term. I want to live/work in academia in a local university for familial reasons, and I know that local universities sometimes place good PhD students in other local universities. I also am already familiar with the institution, the profs and I believe I could do very well there compared to my peers. If I go to a top school, I have no idea how I will do compared to my peers, which could hurt relatively if I'm a bad student there.
So here is my question : Is studying at a top department really better than studying elsewhere? I'm not talking about reputation, but about the program itself. Is it really different? I have the feeling that the coursework is basically the samething. For research, while having a very famous advisor could help, I believe that local teachers could also do a very good job, and maybe have even more time to allow to their students. Is there better options for research? What are the main concrete differences, besides the contacts you make?
Also, is studying in a top school really more for students who plan to live longterm in the states? Is it also much better internationally? Is it worth it in my case? I believe the opportunity cost of living far away from here is high for me, but also that if I don't go, I may regret it as I have good opportunities. This is a very tough decision for me, so I would like to be informed of any good reason to go into a good program, to make the best decision I can. Thank you!
Edit: Another concern I have is that if I do a Master's degree, I'll have to apply to a PhD after the first semester, so getting 3 good LORs could be hard. If anyone has gotten through this, any feedback on that matter would be appreciated.