Top MBA colleges have high requirements and require their students to pass through its stringent criteria such as having a certain amount of work experience, strong professional achievements,
academic distinctions etc. and though this improves the quality of the MBA applicants, it also leaves a lot of young smart people disgruntled because now they will have to work and accumulate years of experience before they are eligible to apply for the MBA.
This
distinction has a long legal history and is entrenched through fair use clauses, the
academic exception, various tax exemptions, Bayh - Dole Act,
etc..