I'll respectfully differ, to a degree (so to speak
).
Getting an MBA does at least three things ... (1) The education itself. You can get a great business education at a lower tier school as well ... doesn't have to be the creme de la creme. (2) Gets those letters on your resume ... sometimes (too often) a make-or-break criterion in some job searches. Lousy to not be considered for the position because you don't have the degree. (Yes ... recruiters will ignore candidates without the MBA sometimes, because they have a ton of resumes to go through, and their client included that in the job spec.) And, (3) Contacts you gain in an MBA program can be helpful. Frankly, never did much for me, and worth more from a top tier school (lockstep programs work better for such contacts, as opposed to the commuter situation I had) ... but you'll hear plenty of stories of people who called their buddy from XYZ University for an "in" on a job, client, investor, etc.
My degree cost much, much less than the number you cite ... state university, part time at first, and full time in the last year. Employer paid for some, I paid the rest. Bootstrapped it, as many do. Tough couple of years, and the last year was a b*tch, but well worth it. Cemented many business concepts I only breezed through in the undergrad, and it has come in handy year after year on the resume. As you climb in management, your employer will include it in public resumes / bios of you (on their web site, internal newsletters, etc.) ... companies / employers like to brag about how well educated their team is, when they can.
Lots of people will tell you (as they did me) that you don't need the degree. Most of those folks will not have an MBA. And, your mileage will vary, of course.
The degree is not magic ... just another arrow in your quiver, but a handy one.
Best of luck.