Edgar Schein, who is now an emeritus professor at the MIT Sloan School of Management, conducted interviews with alumni of the program and noted that "at an emotional level, ex-students resent the human emotions that make a company untidy. ... [Few] can accept without pain the reality of the organization's human side. Most try to wish it away, rather than work in and around it."

So do you need an MBA? To answer that question cogently for yourself or others, I think it's time to start thinking about the value of the education in addition to the value of the credential. It has its place but isn't the end-all in pursuit of a fulfilling and lucrative career.

Paul Glen helps technical organizations to grow better leaders, and managers to perform at their best. He is the author of the award-winning book Leading Geeks. Contact him at info@paulglen.com.