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How to Advance Beyond Senior Java Developer?

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Our Software Developers Career Coaching answers challenging questions posted by computer programmers about their careers. Click here to ask your own question.


Here Is A Software Developer\'s Coaching Question

I have been working full-time as a software developer for 22 years, with the last 12 years in Java.
I have a wide range of experience, including managing 3-4 developers and testers, and significant project management experience on large projects.
I\'ve been in the same position for the past 4 years, making good money for the area.
Still, I have pretty much done it all when it comes to writing code, and am looking for something less hands-on.
My long-term goal has been an architect position, but they are rare, and most companies really want an architect/developer, which is essentially what I do now.
I have considered taking a consultant position where I would travel to do architecture work, but I have not found any leads on one, and I\'m not sure I could handle the travel.
Lately I have been thinking about getting an MBA, with eye to becoming a director of software development.
I\'m an excellent written and oral communicator, I can manage multiple development projects, I\'m good at managing and mentoring developers, and I have deep technical knowledge.
I feel I am qualified for the position now, but I think an MBA would give me credentials I need to be considered. I could work work full-time while earning the MBA.
Should I make the significant time and money investment of 2 years and approximately $50k?
I would enjoy doing the work. Will an MBA make me that much more employable for a directorship?
Will it assist me in doing the work? Or is there some other path I have not considered?