Hi there,
Each school has its own previous experience requirement. Usually around 2 or 3 years. And yes,
it is usually mandatory!.
Besides, I don't mean to be rude, but one of the most important things from an MBA is to nourish from your classmate experience. It is not just study some statistics or marginal costs, is about understanding business.
For me it is very hard to think about a non job experience MBA student. How would you stand out in your apps? I mean, there are a lot of applicants who are brilliant students and have a Msc in fincances. Valuable life experiencies migh compensate., like being a high competence athlete or have been in the army.
I am just curious. Why do you HAVE to be accepted now? I presume you are really young....
Even if you would get accepted with no previous experience, I believe that you will truly appreciate and MBA with a few year of being around.
But you know, just my opinion.
Cheers!