Good read. I’ve come across the question a few times in my career thus far. For the record, I don’t have an MBA. I do have a graduate degree, though, and that helps me sleep at night.
Do I wonder I’m held back because I don’t have a business degree? I used to think so. But instead, I think I’m just not ready to be where I think I should be. It takes a fairly honest look at yourself to come to this resolution. “Why haven’t I been promoted?” “Why didn’t they give me the job they waited 9 months to fill?” Well, the answer is…”You’re not ready for it.”
Regardless of whether you’re in school or not, there are opportunities to learn in the workforce. Often, I’ve found myself learning what not to repeat ever again. But lately I’ve seen more and more examples of things I should emulate in the future. It will help me get closer to my 5 year goal and what I want to be in business and as a person.
My advice? Keep at the path you’re on. If MBA is required for that path, you’ll know pretty quickly, either because you’ll explicitly be told so, or the universe will align and you’ll get into your dream school. I don’t think you should go get an MBA unless you really need it to be successful and if you don’t get into your dream school. The cost just doesn’t justify itself otherwise in this day and age.
Another thing to consider is the disruption happening within MBA programs. More schools are offering 1 year mid-career programs for those who need a booster with emphasis on certain skills they are lacking to make a jump in their career (horizontally or vertically). I can’t say that the cost is any cheaper, but it’s worth a look-see.