Is an MBA truly required for long-term promotion?

As with many private equity firms, the fund I am recruiting for (LMM, $600m fund) has a 2-3 program and then would like me to get an MBA. However, if I perform well the door is open to stay on after getting the MBA.

Let’s say I perform at a high level during those 2-3 years, is the MBA truly a requirement? Or more of an out if they decide they do not want you back long-term.

Thanks in advance.

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