Why doesn't everyone at MBB take advantage of the MBA sponsorship?

My guess is

1.) Sponsorship -- You can't assume that everyone in McKinsey's class will get into a top 10 MBA or at least one of the MBA programs McKinsey sponsors (which I assume is around the top 7-15) 2.) Location -- They are tied to a certain geographic location due to family/friends/spouse/etc. and don't want to move across the country for two years. 3.) Opportunity cost -- You can't overlook this. Even if the MBA is paid for, you're making a four year commitment (2 years to get the degree, two years back at the firm). The opportunity cost of lost wages is easily $200-300k and then the opportunity cost of staying at an MBB firm instead of pursuing potentially more lucrative exit opportunities could be $100k+. Also factor in the opportunity cost of 2 years worth of work experience and how that plays into a promotion-- the individual is effectively two years behind on their promotion track 4.) Utility -- After MBB, a business degree would give individuals a broad business skillset-- something that most MBB consultants already have somewhat developed. By the time of sponsorship, most consultants have specialized into a certain business function or industry. If they know what they want to exit to, they don't necessarily have to have a business degree to do it. If they want to play a risk averse strategy or go into a completely different field, only then would a business degree help them.