I have both. MIM is typically done before work experience, and MBA after a few years. Both will teach the same material, but the MBA is more recognized / brings more value by virtue of you being able to visualize better since you've worked a few years already. The market agrees and puts a clear premium on MBA over MIM. There is no contest

Since you are on a consulting board: why don't you try work in consulting for a few years, get your MBA (sponsored) and then later move into industry? Consulting firms love Engineering graduates, so you won't really have any advantage from having an MiM assuming your undergrad in Engineering was from a good school. You would also enter at the same level.

MBA is simply much more respected, especially in the states.

As for "learning the business side of things" you will learn a lot more actually working in consulting than you will in a master's programme.

Hello!

100% an MBA, and I wouldn´t recommend you to hurry so much (2.3 years is nothing in a carreer). Mostly, becuase of the network you build, that has nothing to do with the MiM´s one.

Good luck!