Your decision depends on your goals and motivation to do an mba...if you want to settle down in India and get a job there,an MBA in any of the tier 1 institutes which includes XLRI will give u that opportunity...the only difference between the placements of XL and IIM ABCL are the i-banks..for consulting/mktg XL is as good as the IIMs.If your primary motivation is not to go back to India and work while doing an MBA,the part time UCLA option is good.
And as Cancerian rightly pointed out (IIM A is the best ranked inst in India..but we know its world ranking...), opting for an MBA depends on your perspective at lookng at things and deciding what is best for you..so my opinion would be that rather than focusing on the relative ranking etc,take a decision based on where you would like to be working 2 yrs down the line....
Congratulations to all who got iim offers. I got dinged in all except XLRI and am not interested in iim-l, i or k. For me, it now a choice between a fulltime program at XLRI and part time programs as USC-Marshal or UCLA-Anderson. Both USC and UCLA have great part-time programs and are ranked 3 and 1 respectively according to Business Week.
I am thinking of refusing XL. I'd appreciate your inputs.