From my experience ,both as an Industry professional (HR) and also as a Professor ( now )in a B-School,I would definitely prefer an MBA student to have at least 2 to 3 years of Corporate Exposure in a medium sized Company.A student with kind of a profile generally turns out to be an ideal blend of exuberance and maturity.An MBA after working for a few years is also helpful ,as the student would have sharpened his analytical skills and people management skills...and would be able to combine theory with practice quite easily.
Most Companies also prefer MBAs with some prior work experience as it eanbles them to drastically reduce induction downtime and get the maximum value out of such resources very fast.
Hope I have answered your query to your satisfaction .
