Career change from engineering to business…Any thoughts and suggestions?

I'm 24 yrs old with a BSE from the University of Michigan and a MSE from the University of Notre Dame. I have 2.5 years of full-time work experience as a mechanical engineer. I've been exposed to roles from project engineering, lead designer, and now a systems engineer. I'm well respected by my co-workers for the quality of my work and my character.

1. The problem is that I am not content with what I'm doing, and also the rate at which I am progressing in the company. The work is no longer fulfilling nor exciting, and the opportunities for advancement seem grim. I'm in the process of applying to business schools so that I can change careers. I'm leaning heavily towards an European one-year MBA program. However, these programs do not allow time for a summer internship opportunity.
2. Provided that I take this path, am I at a severe disadvantage when I finish? This would be a complete career change for me and a huge financial risk. Please share your thoughts and advice, thanks.
3. As I was reading your question I was going to suggest an MBA, but I see you were already thinking along those lines. You certainly have the credentials as far as work experience is concerned and have proven your ability to be successful. While I agree that it will be a huge financial risk, I think your long term career might be better off. Besides it doesn't sound like you're happy in your current job. I did much the same thing as you're contemplating and it could not have worked out better for me. If you decide to do it, I hope it works for you also. I know it's a tough decision, but I always felt it's better to make a mistake trying than not to try at all.
   Good luck whatever you decide.
4. Now is the best time for you to get an MBA. You're relatively young and have work experience related to your undergraduate and graduate school course. But if you really want to move up the corporate ladder, you'll need an MBA. You'll find out there are a handful of engineers in graduate school for the same reason. Some engineering graduates may have a hard time to complete the program because it's completely different from the course they took in college. So it's best that you find an MBA school whose faculty and program are best suited for a technical guy like you.

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