Here I will say each schools strengths and weaknesses to prove they are fair.
Storm: Strengths: Remove shields easily, high power attacks Weaknesses: Lowest base HP, Lowest base accuracy Life: Strengths: Strongest healing spells Weaknesses: Low power attacks Fire: Strengths: Long lasting attacks Weaknesses: Low accuracy Myth: Strengths: Minions Weaknesses: Low defenses Ice: Strengths: High defenses Weaknesses: Low attacks Death: Strengths: Health stealing Weaknesses: Low attacks Balance: Balance is ... tricky to describe the best thing to say is this: They have all the strengths and all the weaknesses you have already seen.
I hope that this shows everyone wizard schools are completely fair.