Has the MBA lost its luster?

I worked for a large global conglomerate. They valued the MBA and paid for most of it. To them, it didn't matter where I got it. It mattered far more that I already worked for them and that they knew who I was. Based on my experience with that, I believe that it has relatively little luster. I didn't see people getting hired because they had an MBA. We had many where their Master's in a STEM field had a lot to do with getting hired, including me.

I think it depends on what you intend to do. Since you have an MDiv you may not need the MBA if you intend to go into a church (although there is a lot of value in focusing on "leadership" if you can get that concentration). I somewhat agree with SSG Thornton in avoiding unaccredited schools (meaning they should have regional accreditation by the US Dept of Ed; and one of the business accrediting bodies if possible). Univ of Phoenix doesn't have a good reputation, but other on-line programs do so don't discount them all.

Then there is the idea that if everyone else has one, are you being left behind without it? Again, I think it depends on what you want to do. I'd be curious to hear what you decide in the end.

Just my humble opinion.

In todays environment you would add great value to your person by certifying as PMP, through the Project Management Institute (PMI). It is likely that your University has a program.