For ChemE, they're both similarly ranked with UCLA a bit higher according to news report
I've heard from current grad students and postdocs that biotech jobs are hard to come by. So I've been steadily growing more discouraged and considering other options.
A&M is building a huge process systems engineering group right now and jobs for researchers in this area seem more easy to come by. Job market looks to be huge in both Cali and Texas though.