On EFATO, I advise my students of light single engine training aircraft to land straight ahead (+/- 30 degrees of extended runway centreline, with bias towards the wind) - UNLESS they are already established on crosswind and at the normal height for that position in the circuit, say 500 ft and climbing, when the engine gives up. Then they should turn towards the field to land back on, being partly turned towards it already anyway. Given reasonable luck, they should then make it back to the field, especially if they had taken off into a stiff breeze originally.
Caveat : landing straight ahead towards industrial/housing estate or further out over the sea is not a bright option, I submit.
Turning back towards an aviation environment with fire cover is IMHO a better option on occasion. Even if you do not make the runway you might put it down in a clear area on the airfield and the rescue services will have a sporting chance of being able to find you there
However, do watch your speed ... and any incoming traffic landing on the reciprocal runway !