Go for distance learning or modular MBA. I was in the
same boat with you, I was 30+ with post graduate
degrees and more than 10 years of work experience.
I wanted to do MBA but I did not want to face that
fate - which bother you - at the mercy of recruiter
in the job placement or career office after graduation.
And I cannot afford the opportunity cost of staying
out of work for one or two years. Also I do not want
to change my industry, although I wanted promotion.
So distance learning MBA was my option.
There are distance learning MBA programs from some
FT top 50 and EIU Which MBA top 50 b schools altough
they may not name theirs as distance learning MBAs.
If you can afford go for Duke MBA that offers DL MBA.
That was about 100K. Alternatively, you can go for
affordable but still excellent MBA programs those can
be pursued via DL mode. For me, I chose Warwick and
I will recommend it to anyone.