That is a difficult decision, considering the fact that both options have their own unique benefits. Joining IIM Bangalore would give you the opportunity to pursue the much coveted MBA program and also broaden your career prospects. On the other hand, taking a job at Ernst & Young as an Associate Consultant would give you the opportunity to gain valuable work experience and provide you with a steady income.
However, had I been in your shoes, I would have gone for IIM Bangalore without any second thoughts. The opportunities and exposure you will get being a student of IIM Bangalore cannot be compared to being an ordinary employee at EY. Additionally, the degree will grant you clarity of goals and you will be able to navigate your career wisely. Even companies like EY, prefer an MBA degree holder thus doing an MBA is highly beneficial in the long run.
Ultimately, the decision is yours, but you should carefully weigh the pros and cons of each option before making your decision.
Given a chance, you should join IIM Bangalore. Getting selected at one of the top IIM is no easy feat. It is the charised dream of many MBA aspirants to join IIM Bangalore and for good reasons. Doing an MBA from IIM Bangalore will certainly elevate your career. You can get a job at Ernst & Young through IIM Bangalore placements later too, if you want a creeer in consulting.
There are several students who face a similar type of confusion after their graduate degree, either take up a decent job or go for a further degree in some esteemed organization. It all depends upon the perspective of the student, what he/she wants to achieve in the near future.
The points below state some guidelines, which may help you to make a decision.
These facts clearly support the choice of pursuing the MBA degree from IIM Bangalore, without hesitation.