<p>Which is the better option overall (money, job security, etc...)</p>
<p>Option 1: a bachelor's degree in engineering disciple + Masters in the same area.</p>
<p>Option 2: a bachelor's degree in engineering disciple + MBA.</p>
<p>MBA is more lucrative.</p>
<p>Having an MBA will open you to possibilities of working in other industries, not just engineering. Also, still having an engineering degree is definitely beneficial if you do want to change careers.</p>
<p>Having an MBA [from a good business school] is probably more lucrative than a MS.</p>
<p>There are tons of MBA programs worth jack out there though, and there's nothing to stop you from getting an MS now and then going back for MBA after a few years.</p>
<p>Or one could hedge your bets and go to one of those MBA/MS combined programs.</p>
<p>It depends on if you want to go with the technical route or the management route. Both are viable in my opinion. I don't recommend a MBA right after undergrad, without any real work experience (in fact most top MBA programs won't even accept you without work experience). So MS would be a good option to differentiate yourself from the crowd. Should you decide management is for you later on, MBA can be earned while working (at which point it's your work experience that matters the most, not where you got your MBA).</p>