Further Studies?

This is one area where I have been thinking for a long time (not too seriously though).. I certainly want to have some additional qualification (apart from my BE degree).
My parents wanted me to take up CAT. I did! But without any preparation. So, as expected, the result was useless... But after college, I did not want to go back & study again. So, I had this topic at bay for over an year now. But it seems like it's high time for me to think seriously about studying further.

Mom still wants me to take up CAT. And just to keep CAT at bay, I tell my mom that I'm more interested in technical side (MS, MTech) than MBA... But that's definitely not true. I'm totally undecided whether I should climb up the technical ladder or the management ladder. If my technical skills were real bad, management would have been an obvious choice. But since that is not the case, I need to make a choice.. (Every time I say 'choice', the famous quote comes to my mind - "Choice is an illusion...")

Well, thinking of the choices I have, after much research, I made up my mind that if I'm going to do an MS, it's going to be MS (in IT) from BITS, Pilani. Various reasons for that... For one, I don't want to go to the US for an MS (partly because I'm not rich & partly because I'm not interested. I feel that there is nothing in US that isn't in India). There are a host of colleges in India that have tie ups with US universities offering MS course in India itself. BITS seems to be a far more reputed college that all of the others. So, if it's MS, it's going to be BITS. There is a part-time course & a correspondance course, both of which are for the duration of 2 years. I can do the part-time MS course in BITS through my company. But the admission process for that starts somewhere next year Feb-March. And the classes commence somewhere around August. And if you take up the correspondence course at BITS, you should have applied before 15th of this month & the classes again start from somewhere around July-Aug. If I want to do my MS in BITS, I need to apply to either of these 2 next year.

So, since the option for MS has been ruled out this year, I started looking at the option of MBA. One of my cousins, along with his friends, has joined for an "Executive MBA" course in "Rai University". Although the University is not very famous, the Executive MBA course there looks very lucrative... The course is just one year & you have the option of part-time or correspondence.. The part-time version requires you to attend 6 hrs of class a day on both Saturdays & Sundays. And the fees is very high (about 2 lakhs). But the correspondance course (which is also just one year) costs you only Rs.14,000.00. The admission has already begun & the course starts sometime next month.

Well, I have still not decided... But I see that there is one possible situation. I can opt for the Executive MBA course now, finish it within a year & then take up the MS in BITS next year. The timelines of the courses are well suited for this.. But the only thing is, should I travel with one foot on each boat.. I see that MBA & MS are totally headed in 2 different directions - Technical & management. But what are the merits (or rather demerits) of doing both? More over, is it feasible? I mean, with all the pressure at work, will I be able to study for any of this correspondence course? Only time will tell...