I always imagined myself getting an MBA after spending a few years climbing up the ladder, but I wonder if the cost (including opp cost) may be too much to recoup in a decent time.
I'm 29, work in insurance product management (Director level), and make $150K including bonus. The comp is great, but I don't think I'm in a position to make it to the Executive level, at least not in 10 years. The problem is, assuming 2 years of missed income and tuition expenses, I'd be over $400K in the hole after graduating. The numbers don't seem to add up, as I'd need to land a huge salary ($250K+) to hit breakeven in the next 6 years.
Basically, I think with the MBA I'd be in a position to make several hundred thousand in 10 years or so. WIthout it, I'll probably be in the high 100s. But the risk of not being able to land that initial high-paying job can't be ignored.
Any advice? I'm thinking it would be foolish to give up my job for such a speculative bet. I also do like my company, but there's probably a 50/50 chance I'll still be there in 3 years. Am I thinking about this the right way?