If you're serious about doing an MBA, then pick your school carefully. It's not fashionable to say it, but brand and reputation does count for a lot in consulting and other industries. Having an MBA from LBS, Cranfield, Warwick (in the UK) will potentially open doors and then it's up to you to impress. You ought to think of it as an investment in yourself - and then assess the return on that investment once you rejoin the workplace. You're taking a year or two out - even if you do it part-time it'll dominate your evenings and weekends - and you want to see the investment in time, effort and significant amounts of cash bear fruit. Going to a school that doesn't have a great reputation and, more importantly, doesn't have an alumni network you can plug into while you're there and once you're out will leave you kicking yourself at a wasted opportunity. Proximity to work is a lousy selection criterion.
