I went for it mostly to switch industries and geographies, as well as for the "learning" part, which I just find fun.
It worked really well for me, but I had clear expected outcomes. The marginal value of an MBA degree is diminishing as the knowledge is easily available anywhere, but there are a few things which still count:
- Network: unlike an usual MSc or PhD, an MBA class has 100's of people, and you spend a lot of time with them, building a very solid network
- Switching functions or industry: it gives you a very good starting point. If you're an engineer, it will be hard to switch straight into marketing, PM, finance, etc. Doing an MBA, plus a summer internship in your target function will make a huge difference.
- Switching geographies: the job marketplace for new MBA grads is global (visa issues in some countries aside), and salaries are usually similar globally, so it's a nice opportunity to chose where you to live moving forward
- You're being sponsored: just do it, seriously, don't even think about it
On the learning side, even if you can find all the stuff online, it makes a huge difference to discuss implications face to face with some brilliant professors. Here's the top stuff I learned:
* How to constantly assess your own decision biases and compensate for it
* Lot's of game theory and strategy applied to real world
* Negotiations
* You're not gonna beat the market, so don't even bother
* How power is created and traded inside organizations