The presented study is a primary initiative in the Peruvian literature for understanding the factors which influence undergraduate students' choice of a B-school offering a Master's Degree in Business Administration. A self-administered questionnaire and focus group discussions were used in order to collect data from 700 respondents, with a usable response rate of 92%. Analysis of the data was carried on through exploratory factor analysis. The seven revealed factors which accounted for 63.2082% of the total variance were: Corporate Social Responsibility, Essentials of an MBA Program, Quality Yardsticks, Entrepreneurship, Location, MBA Technical Specifications, and Physical Facilities. Entrepreneurship education should be addressed primarily, as entrepreneurship is vital for economic growth in Peru. In order to raise their value proposition, B-schools are expected to take true initiatives in the CSR area and promote entrepreneurship education in their curricula, through both business-skills training and practical support given by the B-school