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MBA degrees (and professional graduate degrees in general) are expensive, though some get their employer to cover some or all of the costs (but don't count on that).
If your motivation is only money look into getting into finance (double major math/engineering/physics and finance all work well)
I'm getting more and more confused now. A PhD does not help your wage? Call me greedy, but I have dreams of doing stuff that a 60 grand wage for the rest of my life will not cut. What is the point then, of getting a PhD? Can you actually do more at least?
Are there any other paths you can take where tuition might be waived/not as expensive?
What else can you do in graduate school after an undergrad engineering degree? Can I get a PhD in economics?