You really should think long and hard about WHY do YOU think you WANT or NEED an MBA.
a) Because you love to learn something new <== Good reason, albeit expensive. You can read the books or do online classes.
b) Because you want to make more money <== This is possible, but it's not guaranteed, especially at the level of incomes you already have.
c) Because you want to have a diploma on the wall <=== Questionable reason, but hey, who am I to tell you how to spend your money?
d) Because you want to broaden your horizons into areas you have never stretched into (private equity, investment banking, Marketing, strategy, M&A, etc etc). <== Good reason. If you love it, and you end up getting well paid for it, awesome.
e) Because you want to go into a different career path <== Excellent reason. An MBA gives you many choices, not all of which lead to higher incomes, but it opens doors to different career paths.
f) Because you want to be a great tech+biz hybrid. <== Also a great reason. But it depends on where you want to work: large companies will value you. Small startups will probably not value your hybrid skills as much, or may be counter productive.
g) Because your parents want to have an MBA in the family <=== Terrible reason.
h) Because you want to meet people and build a network <=== Seems expensive for that reason. However, several schools do have specific areas where the networks are strong: MARKETING, TECH, ENERGY, etc. So if you want to work in those industries, getting an MBA from a school with that network will be very useful
i) Because you dont want to still be an engineer when you are 50. <== This is a tough one that I have been helping a colleague with lately. Reality is that there is age discrimination in the work force. Being an old engineer requires being an AWESOME engineer. I have heard from other engineers that it is tough to be old and mediocre (though you can be young and mediocre). If you are old, then being in some other function (or in management in technology) gives you a longer career to retire on. Of course, if you are awesome, then nobody cares that you are old.
It seems you want to go into "Executive Management." That is a whole different question. The first question to ask is : what kind of company? Then research whether those companies value it.
I made my decision based on [a][d][e][f] and it worked really well for me. But maybe I was lucky and had a lot of people who helped me a along the way. I have heard others who make it into executive management due to some other reasons (hard working, right time right place, family connection, tag along a friend who is going up, etc.). So I am not sure one leads to the other.
These days, it seems that being an engineer is an awesome way to have a huge impact (unless you are in I.T. or something like that). I think I would still choose to get an MBA today, but I still think i will go for an MS when I am 50 or so, because of reasons [a][d] above.
I hope this is useful.
Good luck with your decision!