On-the-Job training is given to employees and not students.
Similar programmes can be launched to help the MBA students attain some good skills necessary for work. However, I don't think you can give training to the students for some job.
Although we are preparing for job, our study is highly general in nature. When we go for a new job we need some kind of training to understand the specific needs and demands of job.
Therefore, "On-the-Job" training cannot be generalized and if it is generalized it will not work or be any more useful. I'm sure no one pursues only a single job and therefore this is not suitable for the general studies of the MBA courses.