gaga
What I am saying is that if we stay in our current jobs then after 5 years we'll get to the level that we would get with an MBA (that is 2 years). So career boost = 3 years. But I have seen my friends going back to their pre-MBA employers, but now with $100K in debt. As far as growth oportunities in US are concerned, I agree with or without the sluggish economy it's saturated. My friend from a top business school, now working at a top CPG, is in the same job for last 5 years...no promotion! All this makes me think...should I even go for an MBA!! $120K is a lot of money and during MBA, being an international, I would have to go through the agony of looking at job postings of cool companies with a footnote: For US citizens and permanent residents only.
gaga, i see your point and i partially agree.
I agree that if we are looking 5 years forward we will get a promotion via job hopping or normal progression (or else we really suck :p) - but will it be the same level that an MBA would get us though? Especially for industry/career changers I don't think they will have an easier time getting into that industry via normal progression vs MBA. Certainly if you are only trying to climb the corporate ladder or within very similar field then the 5 years makes more sense though.
With regarding to you friend, is he a career switcher or he was working the same field prior to MBA? Although no promotion is his salary progression good? Those things you gotta take in consideration too.