F500 Corp Development (M&A) to PE??

I am 30 y/o living in a low COL,  Manager of Corp Development (M&A) reporting to VP M&A. I am currently making 170k all in (140k base + 20% bonus) and my boss is currently making 350K all in (250K base + 40% bonus) I do not have an MBA as it doesn't make financial sense with my current compensation. I feel as if I am in a crossroads in my career. There is currently no Director above me and I feel as if i will be promoted within the next 6-12 months. This will put compensation at 215K (170K base + 27% bonus)

I am afraid that without an MBA, Director level is the furthest I will be able to go unless I transition to PE or Consulting. However, most Cons./PE guys I come across all have an MBA and/or come from Target school. What are your thoughts? Do I have a chance with a P/E firm? Should I stick to F500/100 Corp Development and transition to PE only after I make VP level?

 
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