Masters in management or job hunt

Hey guys. I'm in a tough situation as I can't decide whether to pursue a masters degree or enter the work force.

I graduated April 2012 (im from South east Asia) and made the terrible mistake of taking it easy for a few months (absolutely regretting it now). I then had a 3-month stint in Europe doing volunteer work with AIESEC. Came back home end of December. I was set on pursuing grad school so I started applying and now I've had admits from some second-tier b-schools in the UK.

Honestly I think I can do much better than those lower-tier schools. I didnt apply to The top-ranked programs because i didnt want to take the GMAT back then. But now I'm thinking I don't want to waste money on a second-rate program and so I'm willing to study and take the GMAT. I think I can i get a pretty good score. But obviously it's too late for me now for the 2013 intake..

I'm looking to get into a graduate scheme for general management (interested in marketing and strategy though). Right now, I can't get into any of these schemes because my undergraduate degree is a bit of a hybrid course (European Studies+international business) and employers don't understand it. My almost 1 year of inactivity also looks quite terrible on my CV... Really kicking myself for it now so I don't know if I can get a good job right now...

So I'm looking to get a masters now to further my qualifications. But without any work experience (just 1 summer internship), will my Masters degree have any value after I've graduated? Or will that over qualify me for fresh graduate schemes?

So my dilemma is... Enter a second-tier Masters in Management program this 2013 or gain work experience (if i manage to find one) while studying for the GMAT so I can get into a better school for the 2014 intake?

Thanks for any help!!!

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