Originally posted by: fizmeister
Also, an MBA from a crappy school is probably worth nil in the workplace, anyway. It's better to land a job now and work your way up during the three years you would otherwise be enrolled in a crappy business program; you'll be better off in three years. I mean, if it's an MBA from a top 20 program, then it would definitely be worth it (avg. starting salary lingers above $100k/yr). But if it's a crappy 2nd tier state school business program, it's probably not worth the money or the time. It doesn't really put you at an advantage.
Just my two cents as well.
A good point. MBAs, to be honest, are more about marketing and connections than anything--going to a Top 20 business school means that you'll meet other people who are probably going to end up in large consulting firms or high-level management at other companies. There is still a lot of the "alma mater" effect in management at a lot of places. THAT is why you see a lot of successful CEOs with MBAs (and you see a LOT of them went to Yale, Dartmouth, Harvard, etc). BUT I also know a lot of people with MBAs that are stuck in a low-paying sales job or, worse, jobless. Having an MBA does NOT equal success.
I think fizmeister has given you some good advice--if you know what you like/want to do, get out and do it. Sure, you'll start at the bottom rung. But you'll have a two year head start. Not to mention, MBAs aren't cheap. Look at the opportunity cost. And the BEST way to overcome a "low" GPA is to get out there and prove your worth in the business world.
Just a side note that I feel is relevant: don't go to grad school for money. Go because you love the work, and want to learn more. I know I would have quit countless times (I'm in my fifth, and hopefully final, year of engineering grad school)--between the mandated indentured servitude, the long hours, and the lack of respect because you're still in school at 25, life can sometimes look bleak. But I go because I like what I do... and that's what I would encourage everyone to examine before they just send in the application.