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A few general things you will find moderately useful with an MBA that can be learnt through work experience:
1. Knowledge: You gain some modeling, decision-making tools that can be useful.
2. Teamwork: You learn to perform with others, making the total greater than the sum of its part. (believe it or not, a lot of people who do MBA are not business people).
3. Salary: You also command a higher salary. It's a widely recognized benchmark.
That said, the primary value of an MBA or any business school degree is not at the coursework. It's at the network that you can tap into. The best bang for the buck would be doing MBA at the top business schools because that is where you will find the maxima of alumni network value. Believe it or not, "I used to go to the same school as you" carries a lot of weights to break in the most coveted jobs/ industries. The career support of these schools are also elite in terms of getting you connected to whoever you want to connect. UC Berkeley (proximity to the valley), Columbia, NYU (proximity to NYC), all Ivy schools and other top schools in other continents.
Local MBA is good if you want to tick of a box or want to work strictly locally or anywhere that the school name is revered. For example, UBC is an elite school in Vancouver and China, that's about it. I hardly find taking time off for two years being worth it for a full-time local MBA program. If you do a local MBA, do it part-time, retain the income. You will have to work a bit harder but very manageable.
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