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Depends on the Squier, in my opinion. If you are talking about moving from a nice VM or CV passive Squier to a passive MIM you may not find it to be much of an upgrade. If you have an Affinity then you are more likely to find your money to have been well spent. But I don't think you have to go all they way to an MIA to find a worthwhile upgrade. The higher end MIM basses will be an upgrade over any Squier I have tried. I love my Reggie Hamilton and Deluxe Active Jazz basses. Squier offers nothing like them.
Ken