Is an MBA necessary post banking if you have a PhD?

Current first year analyst in M&A. I broke into banking after completing an unrelated STEM PhD. I am 5 years older than my cohort and have no desire to spend any more time in school and lose 2 further years of earnings. I suppose this is quite a niche question and not many people will have been through this experience, but are advanced degree candidates expected to go back an get an MBA?

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