You may have done your MBA from the best of the B schools but work experience will definately put you in a much better position while seeking a CHALLENGING job. However the best way to a healthy job is to gain some job experience and then do your MBA. This will help you correlate a lot of your studies with the experience you have gained and you will be in a better position to fire in interviews.
However i would like to add one more point to the discussion. In todays competitive world, having a degree with work experience is just not enough. Money buys an MBA degree in todays world and hence, i as a recruiter look at candidates with good command over language, presentation and presence of mind.
Hope you develop the last skills either at job or during your MBA