Hi
Bulusuchaitanya,
Thank you for your post. You are going to have quite a bit more work experience than most other applicants to one-year full-time MBA programs, so overall, this would be a difficult endeavor. Probably more difficult on the U.S. side than the European side. But not necessarily impossible.
If your GMAT score is strong, you do very well in explaining why you're doing this now, and you choose programs wisely, then it will be challenging but not entirely unreasonable to apply. You will need to be super proactive and compelling in explaining your rationale for pursuing the MBA at this more advanced juncture of your career, what you'll get out of the program and contribute, and where you hope the MBA leads you (very specifically).
Most folks in your situation (in the U.S., for example), will have "aged out" of full-time programs and would instead pursue part-time, evening-and-weekend, or executive MBA options. In your case, I understand that part of the impetus for applying is to land in a developed market. That is the one factor that could still lead you to "go for it" -- again, it will be challenging but it's not necessarily impossible. I would approach it as a career gambit. And as mentioned above, you will want to blow the adcom away with your GMAT score and story / rationale for applying / post-MBA career goals.
You mentioned "top 10," but please keep in mind that in the U.S., there's only a select list of one-year programs, so you're not really dealing with a full slate of schools or rankings. You should look up the class profiles for each one-year program as they can vary, especially on the one-year side. At one-year U.S. programs, you're usually going to see average ages of around 29 and average work experience of about six years. With 13 years of experience, you will often be trying to convince admissions committees to accept you as the oldest (or one of the couple of oldest) students in the full-time class. On the European side, I'd also encourage you to research program by program. European programs are more often one-year anyway, and they can trend older. You'll see some with average ages of 30, 31, and 32. (Though even then, average work experience is usually more 6-7 years.)
In short, it's going to be a tough proposition, but if you score well, explain well, and choose programs well (likely outside the "top 10" where you find programs that trend a little older), then you could treat it as a long-shot attempt to try to bridge your way into a new (developed) market. Beyond that, it's really a personal choice for you with respect to lifestyle, family, and income. Are you comfortable moving? Are you comfortable giving up your current job and salary? Are you comfortable with the uncertainty of what your job will be post-MBA? Do you think it's worth it anyway? Best of luck!
[There are also a few one-year, full-time executive style programs that are more geared toward mid-career professionals. These are distinct from the main set of one-year full-time programs in that they specifically target mid-career professionals, and they aren't always "MBAs." Examples include Stanford MSx, MIT Sloan Fellows, USC Marshall IBEAR, and LBS Masters in Leadership & Strategy, though the latter has a higher average age and a 15-year minimum work experience requirement. The list is even shorter, the universities are often elite, the programs aren't always "MBAs," but you might want to research some of these as well.]
Kind Regards,
Greg