An MBA (full or part time) would take years and it won't be cheap. You would grow your network and learn some things, and it would open up some PM opportunities

An MBA (full or part time) would take years and it won't be cheap. You would grow your network and learn some things, and it would open up some PM opportunities. Both seem about equally likely to lead to Director / VP level positions if you excel. Maybe EM slightly more, but it's similar. You can start one now, the other takes more interviewing or possibly an MBA. Day to day they will be kind of different. Do you want to worry about how to manage a team of engineers well, help with their professional and personal development, and get them the resources they need? Or help your company figure out what to build, for whom, figure out if that's working, etc? Both require operating well cross functionally, product especially. If you care equally, I'd do engineering management now. Less resistance, and you can always go into product and / or get an MBA later.