Masters in Business Administration
What you should know about an MBA is that the degree itself is largely irrelevant. The real value of an MBA comes in the form of networking and the job opportunities you may get from going to a sufficiently good school (Harvard, Wharton, Kellogg, Yale, Chicago, Northwestern, UCLA, etc). If you're doing an MBA at a no-name university basically you're wasting your time.
The other thing you should know about an MBA is that they have the most value for people who are already on that career track. Don't think that an MBA will make you an executive or a manager if you're not already going that way.
Take a look at:
You also have to consider that an MBA is becoming so common that it's value is rapidly diminishing. That even applies to the top schools but an MBA from one of the top 50 schools still has value.
In terms of knowledge, reading The Ten-Day MBA will get you most of what you actually need to know.
Masters in Information Systems
An MIS on the other hand is far more IT focused and seems aimed at someone who wishes to undertake an IT leadership position. Like any degree (MBA included) the individual curriculum varies from institution to institution but basically the goal is to give you a foundation in the business of software so you'll find both IT and non-IT people doing this kind of degree.
The career path for such a person would probably start out as a Business Analyst or similar. Or if you're an experienced developer, you'd go on to be a Team Leader, Lead Developer, Development Manager and so on.
I'd say this has more value to someone who doesn't have the IT background who wants to work as a Business Analyst or otherwise get into IT on the business side.
Experience
As in most fields and probably more so in IT, experience pretty much trumps everything else. So you've been off-work for six months. Any potential employer will be asking you what you've been doing in that time. That's a lot of time in which you could be:
- learning new skills;
- blogging or otherwise writing articles, etc;
- developing open source;
- creating your own Websites.
All of these will help you get a job and launching a Website will help you get in on the business side as you spend time figuring out how to market your Website, how to build a community (if its that kind), etc.
I don't mean to sound harsh (just honest) but every CV tells a story and if yours was 6-12 months doing nothing then it wouldn't look good. If you then get a job (in terms of looking at your CV thereafter) I guess that's fine. Going to school then makes it look like you were looking for an answer in education, which I guess you are.
Education only really helps you do something you're doing anyway. It's why very few programmers actually learnt to program in university/college. Most started as kids excluding the early pioneers of programmers who started in an age where computers were really rare.