@funyunz 742 undergraduate enrollment in ChemE could be the total undergraduate enrollment and not the Freshman number. I think the number for the first year is much lower (180-280 not sure) and that’s why ChemE is one of the toughest engineering majors to get into at UT Austin (unless they recently increased numbers). The department is ranked high and competition to get in and stay in (internships, grades) will be tough.
The year my younger son applied their school had only 2 get into ChemE. A kid with top 1% test scores ACT and SAT, 5 on AP Chem, National Merit Finalist and top 5% of the school did not get in. He even had internships in ChemE in high school. Others with similar high test scores (top 1% 33-35 ACT and 2200-2300 SAT) , 14+ AP’s and National Merit Finalists did not get in.
You have excellent scores and class rank and should get in, but have a backup plan if you only want ChemE. Who knows what UT looks for - maybe a max number from each school, or a diverse class and numbers were filled in an area.
Texas A&M is an excellent choice too. With your scores you may not only get University scholarships but also department scholarships. If you get a department scholarship you will be auto into ChemE after the first year (but check with the department as they change every year). Salaries are on par with UT. The Aggie Network is very strong and they take care of their own.
Wishing you all the best.