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<p>A hiring manager who is less school-prestige-obsessed (and may not even care if you have an MBA) may call you in for an interview regardless of UM-AA, UM-F, or no MBA, but may decide not to hire you after seeing what s/he considers deception (“UM” trying to imply UM-AA when it was really UM-F). Or HR may mark you as ineligible to hire after the check of UM-AA (based on “UM”) reveals that you never attended there.</p>
<p>The other possibility is that if you do get hired, but found out later, if the manager or HR considers this cause for firing, then you may have to explain being fired in subsequent job interviews. Or even if you do not get fired, you may be seen by your manager as untrustworthy and given less desirable work assignments, limiting your career growth.</p>
<p>Yes, plenty of people do “get away” with stretching the ethical envelope. But many others do “get caught” and penalized.</p>