Older But Not Overly Experienced

Well, I grew up quite poor so after high school I really wanted to work right away to earn a paycheck. Blue-collar manufacturing work mostly. I started out stacking boards coming off the end of a production line, moved up to line leader, then on to maintenance mechanic and shift supervisor. My trajectory was always upward and I actively sought to advance.

After 6-8 years of that I realized that it was time to go back to school if I were to really get ahead. I started in mechanical engineering at Penn State part time while keeping my full-time job. After 2 years I proved myself eligible for the honors program so I switched to Engineering Science, quit working, and started full time studies. Due to the initial part-time studying and due to the switch of engineering majors--which meant that I needed to make up for some missing prerequisite courses--it took me 8 years to complete my undergraduate/graduate degrees. Wow, what a late start!

Although I am a bit older now, I am in the same position of others who are 10-12 years younger than me--nearly fresh out of college with a few years of post-graduate professional experience under my belt.

I will become an entrepreneur. I know that an MBA is absolutely not necessary in order to become an entrepreneur, and some may even say that it is a complete waste of time, but I really see a lot of value in the networks that can developed from taking part in an MBA program. I also see great advantage to learning management frameworks and concepts of finance and marketing that can be applied to my future businesses. I truly believe that this is the path for me.

yorab, it sounds like a part-time or EMBA program would be excellent for you. You'll take all of the classes and create networks with your fellow classmates (many of which will already be in fairly senior positions at their companies). Your excellent GMAT score will probably give you a good shot at getting into a top EMBA or part-time program.

Of course that you have a shot at top schools. Your situation is unique. Don't let anyone on this board tell you otherwise.

I've noticed that most people on this board tend to have a preconceived notion of what business school applicants are supposed to be. They forget that people have different life experiences and that there isn't a clear path for everyone. I know someone who successfully changed careers at 42 - something that would be considered practically impossible for people on this board. People in their 30s are accepted to top business schools (and even top law schools, like HLS) every year. Top schools appreciate diversity, and you're probably not experienced enough for the EMBA that others are suggesting. Go for the MBA.

I never said that it was impossible to change careers, I simply said that it could be quite difficult especially into certain fields. Typically when you change careers (industry and function) you will need to fall back a few levels because of your lack of experience in a certain industry. As yorab has already seen, it is possible to work alongside others that are 10-12 years your junior. However in many of the "standard" immediate post-MBA positions like i-banking and management consulting, there can be some unfortunate age discrimination especially if you're going to be 40 while your peers may be as young as 26.

Now I'm not saying that getting into a program at 38 is impossible, in fact I've met a few people that will be on the latter half of their 30's when they get out. I was only saying that if your stated goal is MC or I-banking (which is not the OP's plan) then it would be very difficult to convince adcoms you were employable post-MBA at your target firms.

Personally, I also find it hard to justify forgoing 2 years of income and ~$120k in tuition just to try and start a company immediately post-MBA. Unless you earn a substantial scholarship and/or are personally wealthy, it'll be difficult to start a business when you are personally in a massive amount of debt. I think some people believe that the VC money will come pouring in just because you can say you have an MBA, which is not really true. And for the most part to get VC funding, entrepreneurs have to show that they are willing to sacrifice a lot personally at the early stages of a company by taking large hits on salary for the sake of the company. VC's aren't in the business to just give money to people that think they can be successful and start living that way without any results.

Regarding not having enough WE for an EMBA, I'd have to disagree with this. I think that 4 years of post-grad experience is enough for an EMBA. I knew someone who enrolled into Columbia's EMBA program with only 4 years post-grad experience and with yorab's inspiring story of working during the first few years of undergrad, I think he/she'll be just fine. The OP likely has enough "life experience" to compensate

Of course this is all completely just the random opinion of some stranger on the internet and yorab can do whatever he or she chooses, but I just think that if all you're looking for is the knowledge and a good network to join, a part-time MBA or EMBA should be able to accomplish both.

Ok, thanks to all who have replied (I'm a guy by the way). As can be expected on an open forum, there are differing views presented, though I don't believe that the views are necessarily contradictory. The biggest differences between views seem to be based around the difficulty level of what I am proposing to do and whether the ROI is acceptable.

The most helpful thing for me is the fact that I haven't been told that it is impossible for me to be accepted to a good school for a full-time MBA. This keeps my hope alive (though I wouldn't halt my plan simply because somebody on an internet forum told me to).

I'll do some more research: study recent class profiles, perhaps ask around on other forums, try to contact current or former adcoms, etc., and then make a decision of whether to go for it. I've never been one to shy away from actions simply because there are lower odds of success--there would need to be other factors involved that would cause me to change course.

I'm definitely loving the encouragement from Argenbrit.