It depends on whether you end up working in private industry or somewhere within the government. You may be able to sneak into a government consulting position or find work with a small company with just a bachelor’'s degree, but most other employers will want you to have your master's in business, and you will really need it if you want to advance in the field. Employers want to know that you’re able and willing to put up with many long years of school, as it makes it that much more likely you won't fall asleep during meetings. The top few consulting firms only recruit from the top few schools. Harvard, Yale, Princeton, Stanford. And that's about it. Maybe MIT and Cal Tech thrown in there as well. The attitude is that they are selling a very high-priced product to a client who wants to feel that the product is worth it. And the only way to maintain that price umbrella is to continue to maintain an air of exclusivity. Hence the very low representation of even very smart, talented, hard-working State School alum in the lush consulting hallways.