If your long term plans are to keep growing into management, I'll say take the PM job. Those kind of graduate PM programs help you grow quickly than starting as

If your long term plans are to keep growing into management, I'll say take the PM job. Those kind of graduate PM programs help you grow quickly than starting as an engineer and then make your way up. It all depends on what you want to do in the future. I started working as a developer/consultant and now I'm moving into PM because I don't want to code forever. However, I have friends that only wish to code all their live and that is okay also. Just go for what you want and like and you will be happier.