Great question - my partner experienced a similar situation recently. The key question here is: what is your priority at this stage of your life? More specifically:
- Are you looking to stay in consulting?
- How important is the pace of career progression / promotion for you?
- How much do you need a break from consulting right now?
- Are you looking to pivot externally?
- Do you know what you're looking for or do you need time to explore?
- Can you get the opportunities you want directly post-consulting without an MBA?
- Do you need new skills / certifications to legitimize your move?
I would first reflect on the above to have more clarity before making a formal decision on the MBA. Bear in mind that consulting typically offers quicker career progression than industry, so a few more years in consulting can help you land a more senior role elsewhere. Others also argue that the more senior you get in consulting, the more difficult it is to pivot elsewhere given you always work in an “advisor” capacity rather than a “decision-maker” capacity, with limited implementation-related experience needed by industry.
Many industry firms (especially tech) indeed offer attractive post-MBA sign-on bonus / packages that pay a big chunk of your tuition. It's a good factor to keep in mind if you consider taking the sponsorship from your firm at the start, and then paying it back afterward if you decide to pivot during / after your MBA.
Hope this helps!