How do you decide whether an MBA is for you?

The last few months were torturous in terms of the internal conflict I battled regarding the next eveutal question people my age consider: grad school/ MBA. The best advice I recieved was that I should consider MBA only if: 1) I wanted to change industries 2) If I felt that I had reached a glass ceiling in terms of promotion/ pay raise.

In my case it is niether. I love the digital domain and thankfully, the last few years of agency/ consulting experience has given me the ability to transfer the skill-set to any other industry. Regarding promotion/ pay raise, I don’t beleive that I have reached a glass ceiling in terms of that and from my understanding of the digial industry, I don’t think I will be there anytime soon.

So based on that filter, I should have easily been able to weed out MBA. But the other benefits of an MBA niggled me. Most important, the high-worth business network that I’d have an opportunity to cultivate (considering I got into a top B-school) On the other hand, a $120K debt + 2 years of no money coming in is a huge set-back. Back to square one.

I spoke to a dozen incredibly smart and successful MBA’s and non-MBA friends and the feedback was always mixed. MBA’s highly valued the network and the credibility the label lent them. Most of them however maintained that their learning was limited. But almost all of them considered that their MBA was a good decision. The non-MBA’s I spoke to were not faring far behind in terms of jobs, salaries or credibility.

My mentor (mid to late 30s)  offered me an interesting insight as well. He said that most likely people his age or just a little bit older is the generation that is going to move up to becoming my generation’s boss’s. And his generation, doesn’t care about an MBA. The way they evaluate a candidate is very different. They still respect and look for a mix of creative and analytical skills, but what they value more is the ability to think unconventionally.

After taking into account all these conversations and ‘research,’ – I was able to decide a few things for myself.

1. I do value the network and credibility an MBA from a top school brings you. But I haven’t yet been denied or lost an opportunity because of either.

2. I am still learning and growing tremendously as a professional from my job, my mentors and the people I surround myself with. There is a new learning curve to overcome (whether in strategy, operations or leadership) every few months that I thrive on. Also, as a personality – I grow and learn better by doing.

3. Financially and in my personal life (my wedding, my fiance’s grad. school etc), I have a few other things that need to be a top priority right now. The incurred debt from an MBA is not a problem as I am confident that I can get rid of it in a few months. But right now, we need  (me) to have a stable salary to be able to support us. This, I realize, is an important factor. With all the research I did, I was also sure to ask talk about how grad school can impact a new marriage. This is largely a personal choice but for me, it was a no-brainer.

So what’s the verdict? I haven’t dismissed the possibility of an MBA. I am certain though, that I am not ready for it right now and probably need another year or two. And lastly, I may have to consider exploring evening-MBA option simply because I cannot imagine being out of the workforce for two years. I love working wayy too much to do that.

Seems so simple! But it took me six months to decide upon this. Whew.

So what’s the verdict?