i believe m.tech or mba.there cannot be an alternative to a masters degree..though you can live ur life with a bachelors degree also.but a masters degree from a good institute earns you a kind of respect you will not get otherwise.Wether it will be mba or m.tech its ur choice.the problem with mba is that it costs a lot and there is no stipend
Don't ask others ... just ask yourself whether you want to earn after b.tech. or you can wait two more years .. if you want to do m.tech. for a high salary job then it will be waste of two years ...as you will get as much salary as that of m.tech. campus job after 2 yrs exp. but if you score good in CAT and have course fee ready then you can opt for mba whatever you wish to do you should confirm to yourself well before 3rd year as after that it will be impossible to prepare for anything ... best of luck !