MBA now... and later, too?

I have a question that may seems silly at first, but I've thought about it for at least 5 minutes now and it doesn't seem quite as silly: I go to an average/mediocre university where I am a senior majoring in finance. I will get my MBA and undergrad degree in 5 years flat because of a special program. I have always had dreams, however, of going to a more prestigious school for my MBA. Unfortunately, most of the universities on my wish list require applicants to have [at least] a few years of professional experience (not just an internship) in order to even be taken into consideration. Okay - I was thinking that I'll get my bootleg MBA in 5 years as planned, then go to work for a couple of years.... only to go back to a great MBA program later (and watch my stock rise quite a few notches).

Does anyone know if people really do this? Any thoughts? Experience?

More Info:

I attend Texas Tech University right now, but the MBA programs (at this moment) on my wish list include UT's and Rice University's. I know UT is one of the best business schools in the world, but Rice is ranked very high regionally. I'm also a native Houstonian and have always been googly-eyed about Rice (everything from the campus to the people). Rice's tuition is about 7 times as much as UT's however, which may end up being the deal breaker since I'm not a big baller (yet).

I would have to say "No, it won't work." Basically, you want to earn your degree...then go to another school and say "Here's my $$$, I'll sit thru your classes just to have the same degree but from your school."

First of all, I'm not sure another school would admit you into a program for a degree you already have. You might could go for a specific flavor or discipline within the second schools MBA program, even perhaps a PhD, but chances are they aren't going to let you go through the same classes as the degree you already earned. On the one hand, if you apply to the second school and they let you in - usually only ~6 of the credits will transfer (so you would end up taking a lot of the courses over again). So you end up paying a lot of money...and for what?

Are you going to list both schools on your resume? MBA in 2005 and MBA in 2008? Even employers would wonder what you were thinking.

Yes, we all want to go to a Big Name school and have that prestige associated with our degree, but if you can get an MBA from Backwater Univ, it's still an MBA - and the following work experience you get will count as much or more for that job you really want.

If anything, having earned the degree at a smaller school would only look bad as you apply for the next school for the same degree..they would wonder what you're thinking.

If you really want that big name on a degree, look for something more than just the MBA to pursue there. Get the basic MBA from your first school...and when the time comes to attend a big name school - you may focus on getting a Master's in Finance, or Operations, or something specific - that would look good on the resume AND make some sense: general MBA '05 and Master's of Accounting '08.

Just my .02, and I've looked a lot at MBA's over the past 5 yrs (still looking, lol).

Oh...and for the second degree, if you did want the same plain MBA a second time, you would definetly have to pay for it yourself. Most companies offer tuition reimbursment or some financial aid for employees going for degrees, but NO company will support you in going after a degree you already have. Something to think about.

shit yeah, get your combined degree first, work ~2 years for big consulting, travel, then go back to a top 10 program. which will put about an extra 75-100 grand ontop of your starting salary, after the good program.

oh and many companies will put you up for a FEMBA degree, if you're an achiever with potential.

and get out of Texas, go to Anderson at UCLA!

Most of the top programs will be reluctant to accept you if you have already received an MBA at another school. You may want to consider a master's in another business related field, or possibly do a PhD in Management. While most Management PhD's stay in the academic/research sector, some do return to the business world....

I don't see any reason for you to repeat your MBA in a few years. Your ROI will be fairly dissapointing.