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Based on the most helpful WSO content, your situation presents a nuanced decision. Here are some key considerations to help you evaluate whether pursuing an MBA is the right move:

1. Opportunity Cost vs. Value

• Opportunity Cost: As an associate at MBB, you're already in a strong position. Leaving your role for an MBA means sacrificing income, career progression, and potentially delaying your trajectory. However, since your firm is willing to sponsor, this mitigates the financial burden significantly.
• Value of the MBA: If you're not looking to pivot out of consulting, the MBA might not be as critical. Many in your position find that their current experience and network within MBB already provide ample opportunities for growth. However, if you're considering a move to IB or other industries, the MBA could serve as a strong branding tool and open doors.

2. Prestige and Branding

• Since your undergrad was non-target and your master's was semi-target, an MBA from a top-tier program (like HBS, GSB, or INSEAD) could significantly enhance your personal brand. This is particularly valuable if you aim to position yourself for leadership roles or transition to industries where pedigree matters.

3. Networking and Optionality

• An MBA offers unparalleled networking opportunities, especially at the schools you're considering. Even if you're happy in consulting, the connections you build could be valuable for future career moves or entrepreneurial ventures.
• Additionally, an MBA provides "optionality." If you ever decide to pivot industries or roles, the degree can act as a safety net, raising the floor of your career options.

4. Industry-Specific Considerations

• If you're open to IB, an MBA could be a strong asset, especially for roles in industries you're passionate about. Many IB roles still value the MBA as a credential, and it could help you stand out in a competitive field.

5. Maturity and Personal Growth

• While you mentioned you're not pursuing the MBA for "maturity" reasons, it's worth noting that many find the experience transformative. The exposure to diverse perspectives, leadership development, and time to reflect on long-term goals can be invaluable.

6. Alternatives

• If you're hesitant about the opportunity cost, consider whether you can achieve your goals through other means, such as leveraging your current network, pursuing certifications, or gaining additional experience in your desired industry.

Final Thoughts

If prestige and branding are your primary motivators, and you're targeting top-tier programs, the MBA could be worth it—especially with your firm's sponsorship. However, if you're content in consulting and don't see a clear need for the degree to achieve your goals, it might be better to focus on excelling in your current role and leveraging your existing master's degree.

Ultimately, the decision hinges on your long-term aspirations and whether the MBA aligns with them. If you're still uncertain, consider speaking with colleagues or alumni who have pursued similar paths to gain additional insights.

Sources: https://www.wallstreetoasis.com/forum/consulting/should-consultants-get-an-mba-8-scenarios-to-consider?customgpt=1, Am I Thinking About an MBA Wrong?, Is an MBA worth it?