I agree with Jesukumar that talented people are highly available in colleges, but top companies prefer 'B' Schools over universities/colleges. Currently, I am working as an HR Executive in an Engineering Design company. I completed my MBA in 2008. During that time, there were no campus interviews for HR or finance; only marketing openings were available, and many companies turned away candidates.
The Main Reason: High Competition
The current trend shows that many individuals are willing to pursue an MBA and enter HR roles, but there is a lack of proper background for doing so. As a result, there seems to be limited scope for pursuing an MBA now.