Hi All,
Would highly appreciate an input from the pros.
Myself
35yrs PhD in biological science working as a research fellow since last 6 years. Salary 38K/year.
Potential for growth - Slim as its difficult to get grants and may at best double if I stay on
Wife makes close to 100K ...we have one child in middle school.
I started some small businesses online that are doing ~OK..earning about 1K a month with about 10K invested (Almost at a point of going neutral to profitable soon).
Based on my entrepreneurial drive, I got encouraged to go for an MBA. There are 2 schools in my area one ranked around 90 in the top 100 and the other in mid 40s (about 1 hr drive).
The 40th ranked school has just accepted my application for admission and is offering half scholarship still leaving about 25k per year expense (This is for winter intake and the program runs for 18 mths).
My main goals are to change my 'field' and have tried applying to pharmaceutical companies etc without any luck.
My other goal is also to expand my business and possibly start something better with proper knowledge and directions.
My questions
1) The MBA program is from a decent school and the only thing missing compared to a Full time MBA is a guaranteed internship - Would that make a huge difference.
2) I read posts everywhere about MBAs being dime a dozen etc ..is it really that bad even if the school has top 50 ranks.
3) I am worried about the financial aspect - although i have my wifes backup but going to school this late in life....is this something i should consider.
4) Would it be better to 'invest' more in my business and take it up myself...

Thanks