To MBA or not?

I've had this debate with myself over and over again: should I do an MBA or not? I feel I've reached a stage in my career where I need a fresh start if you like. That in order to move up and about, I need to make it through one of those top schools that charge the amounts they do entirely because of their name; because if you're accepted into say, Chicago or Stanford, then by definition you're a successful person and it sends out the strongest possible signal to all those top employers who come to hire. Plus, with sign-on bonuses that run into several thousands of dollars or pounds, top salaries, and commendable bonuses, the odds are better than even that you'll pay off your student loan within 2-3 years.

The issue I feel with me is that I'm aging ! Ok, not like a tree or a plant or a dog, but I'm 27 (to be 28 in a few months' time). Even if I did sort out the finances, etc. etc., should I really be spending 2 years or so at business school now? I'd be 29 and entering B-school in autumn '10. That means I'll be nearly 31 by the time I graduate in 2012. To start working as an Associate at 31 !!? That's not somewhere I want to be...I think. At 31, people start VP-ing or at least AVP-ing right?

But then, if I don't do an MBA, where will I get to...and when? I'm reasonably happy in my current job, but I don't see myself being promoted. Not because of my lack of ability, but because of the structure of the organisation. Let's just say it's not going to happen (without going into the whys or hows on this blog!!). And the more time I spend working here, with this knowledge that other than perhaps annual raises in salary, some bonus money, may be more responsibility, without really going anywhere, I am going to get stuck here. Jaded.

But the decision to do an MBA is a very very hard one. But easier than actually doing an MBA !! First, it's the finances. Both now, and financing the future, and not working for 2 years. In other words, I do an MBA, get saddled with debt, and find that career-wise I haven't struck gold with an employer of choice (whoever that maybe).

I don't know the answer yet. I haven't been able to convince myself either way.

For now, the debate rages on. I just feel though that I need to resolve it soon. Time. It doesn't wait.