Now, some have the notion that more experienced candidates are not preferred by companies during campus placements. To some extent, I would say the answer is Yes. But, if you're in India's top 10 B-Schools then going for your dream is definitely worth it. After all, being in the top B-School, one has already proven that he/she is amongst the best minds of the country and all the companies value that. The brand always matters. If you've got a good brand on your resume, then no company will reject you or at least there will be someone to accept you in the worst-case scenario which generally doesn't happen.
According to me, the question itself is not correct. Instead of asking whether one shall go for an MBA after 3-4 years of experience, one shall ask why he/ she wants to do an MBA after so many years of experience. All have their own unique reasons. There will never be 2 persons having the same reason. Generally, people with many years of experience either want to switch to different industries and roles that they are working currently or they want to go up the ladder within the same industry and explore the functional side of it rather than the technical front.
So, its all about when you find that one reason to do an MBA and Indian B-Schools admission process is changing big-way in terms of diversity. One needs to understand that B-Schools are not just only for placements, There's a lot more it.
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