#2
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On the other hand, getting an MBA after your engineering degree will put you into the management track. You can get too specialized with earning a Master's and PhD, making it more difficult to get hired.
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I don't think that an MBA is better than a PhD in management. I doubt that the Jet Propulsion Lab in CA has more MBAs than advanced degrees in management. I have been working for more than 20 years and none of my managers has an MBA (although I am not in AE).