Thanks for getting straight to your primary concern. I will likewise get right to it:
Your age isn't the issue here, it's the necessity of the MBA and whether it will work for you the way you want it to. Will your work experience/skills + an MBA = the job you want after graduation? Put yourself in the shoes of the recruiters at your desired job. If they interviewed you today, would you be able to land the job (the answer needs to be "no")? If they interviewed you in one year, as a member of the first year class at School X, would you be able to land the job (the answer needs to be "yes")? The MBA needs to be the exact solution to your progression.
The concern with someone 34 years old is not that he is 34 years old ... it's that he's deep into a career path where either the dye has been cast and recruiters in that field aren't going to bite, or the individual in question has already glided past the point where a full-time MBA would be helpful.
If you fit into any of those boxes, you have to think about part-time programs so that you can avail yourself of the knowledge, network, and brand of an elite b school without subjecting yourself to the total excavation that comes about because of the "employability" aspect of full-time programs.
If you don't fit those boxes and you can show a clear need for the MBA at this time, you can be competitive.
Hope this helps.
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