USMS is considered the better one than IITM. It is an on-campus MBA school on the IPU campus and has the best faculty and infrastructure. 

All the teachers are well qualified and students get good exposure to activities and corporate interactions essential for an MBA graduate.

The top recruiting industries visiting USMS are Banking, IT, Retail, Marketing firms, Finance Corps, and startups. Companies like Grail, Evalueserve, Tata, etc. used to visit the campus for recruitment.

It is suggested that you go for USMS, as it will provide you with better industrial exposure, from which you can learn the corporate working style, very early on in your career.