Rockstarr001:
Q: I have been talking to a few consultants and I have been told, again and again, to get into an MBA by the time I am 28.
A: Did they offer a specific reason? That cutoff between 28 and 29 is honestly very arbitrary.
Q: What are the benefits? Is there a sweet spot to get into a b-school?
A: Most people apply 3-5 years out of school to a full-time MBA program, but that doesn't mean there are not plenty of people who get in 6+ years out of school. The schools generally believe that having several years of experience make MBA experience valuable. Going in with too many years under their belt could make less sense for some students, especially if they have extensive managerial experience. Going in with too few years of experience may mean you have less to relate to when studying business cases or management theory. The schools have figured out that 3-5 years is the sweet spot for that reason. You can look this up on the admissions websites of various schools. They tend to provide age breakdowns for each of their classes.
Q: I am planning to apply and get matriculated at 29. Will that keep me away from good jobs, like consulting or product management?
A: Not at all. You have every access to the same jobs as people younger than you. You are only really talking about 1-2 years off of the average. That's really not that much. It would be a much bigger deal if we were talking about you entering in your low- to mid-30's.
Q: What are the drawbacks if I get matriculated at 29?
A: For the MBA experience, virtually none. For some post-MBA roles, it's possible you may not get enter a new job at the same level as those who did not get the MBA and chose to work their way up the ladder. That could frustrate you depending on your expectations and personality. For example, for consulting you are talking about the Associate or Consultant roles, which are the standard, immediate post-MBA titles. You cannot jump up a level just because you have more pre-MBA experience.
In general, I really would not stress about this at all. Plus, you can't do anything about it assuming you are now of that age. If you are really interested in an MBA program, I do urge you to act now rather than vacillate and postpone as acceptances and the experience do become different as you get significantly older.
Good luck,
Admissionado