True, I am a Texas MBA graduate. The pay does increase, but I think the number of Hours I work has increased. I worked a pretty consistent 58-68 hour work week, which included frequent travel. I considered my travel part of my work schedule time (since most of that time was spent writing emails, or reading work materials).
I have since taken another position (I am an IT architect / project manager) which I have found much more appealing. You will find many professionals with their MBA tend to drastically change their career paths. My reasoning? A 10 month old little girl that I wanted to spend more time with. Since her mother and I are both doing rather well in our professional lives, we took positions that were not at the top of the salary we can make, but very fulfilling and financially worthwhile.
Is the MBA worth it? Depends on the industry you will use it in. I think the majority of its advantage is just getting into the school. The upper-ranked programs give you opportunity.
Don't get me wrong, to me it is worth the work as I really enjoy my job.