Don’t join B-school just for the sake of doing MBA. Have a clear goal about why you want to do an MBA and which stream you want to pursue because this will help you in homing on correct b-school. For ex. Suppose you want to pursue Operations than NITIE might be better choice than SPJIMR or XLRI despite both this college ranked above NITIE.
If you are from an engineering background and want to pursue Finance in B-school than having cleared CFA Level-1,2 helps a lot because by having this you will be able to get the shortlist from finance companies during Summer placements which generally happens very soon after you join the college. Further try to join 1 or 2 Finance committees.
Don’t make your decision based on the Placement reports of the college. This reports are fudged and have super inflated CTCs due to one time joining bonus and variable packages and stock options.
Having experience helps in b-school because it makes you more mature and makes you eligible for Lateral Recruitment process (People having a work ex greater than certain months, generally 20 months, are only allowed to appear for this process and around 25% of the batch gets placed in LRP).
In MBA profile matters a lot because you wont be able to appear for an interview until your CV is shortlisted and shortlist depends on your profile i.e 10th, 12th, undergrad etc.