MBA Admissions Committees try to identify applicants who are constantly active, challenging themselves in all spheres of their lives. So, not only are extracurricular and community activities powerful in showing an MBA candidate's benevolence, but they also help create the impression that the candidate is always in pursuit of goals and is therefore predisposed toward success.
Each week, we meet at least one candidate who says, Well, I have been so busy professionally that I haven't had time to volunteer. However, I was really active during college. It is important to note that, in almost all cases, as candidates get further from their college years, their college experience becomes less and less relevant. While a record of consistent achievement throughout college and into a candidate's professional life is best, MBA candidates are often evaluated on a what have you done for me lately basis, meaning that contemporary community service is generally more important.
Although MBA admissions officers know how challenging it can be for some professionals to find the time to commit to external activities, they will still have many candidates from the most competitive fields who indeed find time to offer to others. So, if you had a rich and fulfilling college experience filled with leadership, in short, keep going. You have a powerful complement to your contemporary involvements, but not a substitute.