MBA or Software Engineering

I am a recent grad from a top (3) B school in India. I joined the B-School right after Bachelor's because I didn't want to squander the opportunity that came knocking. Now, I work at a company based out of Bangalore with a pay that I feel is quite less. I believe if I stuck to being a software engineer I would have made a better bank. I had 3 FTE offers right after college and I had a pretty good grasp on Software engineering. Now I feel like I am not progressing in my career at all. Any suggestions?