I'm new to this site, but wanted to get commentary from likeminded people about whether or not to pursue an MBA. My rule of thumb is that it's only worth consideration from a T-20 program, especially if an employer or grants aren't paying for it.
Yet, with a six-figure price tag will it really make or break your career? I'm of the opinion that there's a surplus of MBAs out there. The cost will go up since foreign students paying international tuition rates are becoming less intrigued by the prospects of studying/living/working in the U.S. Given recent wage inflation, I wouldn't be surprised if employers start preferring competent applicants that don't have advanced degrees.
I've heard from many people that MBA courses are not any harder, or even easier, than undergraduate courses. At the end of the day, the MBA is just a signaling tool. The MBA has become so watered down, that schools offer half-assed programs such as evening, weekend, and even online formats.
Recently on Wall Street, Jon Gray of Blackstone and David Solomon of GS are considered heir-apparents to become CEOs of their respective firms. Neither has an MBA, and Solomon didn't even attend an Ivy for undergrad. Obviously, both these guys had no idea they would one day rise to the top. I'm sure there's more examples of this, especially at the mid-Manager level and at less prestigious institutions.
What am I overlooking in my thought process?