Quit a MM IB M&A gig for a cushy job with better lifestyle

Hey, guys. Looking for some perspectives about my situation.

I went to school and work in a major emerging economy that is suffering a major recession. I graduated in 2015 (decent universiy, target for MBB, but not good at all for IBD) and was able to land a MM IB gig at a 1-person (the MD) satellite office.

The city sucked and was not doing much besides work, but I was learning a lot from the analysts/associates of the main office. One thing to mention and that played a factor is that I was suffering from chronic low back pain that was left untreated for years and the sitting hours were taking a toll on my health.

Four months in the job, I was called-up for a government-owned development banking position (through a civil service exam taken years back). These are very coveted positions because you get job statibility and in general has better entrance level pay than the private sector jobs (with less pressure, less hours, more benefits, etc). WIth the country in recession and working in a sub-par gig, I ended up accepting it thinking that I would have a much much better lifestyle while still working in finance, better initial pay, time to heal my back and do other stuff/business/teaching on the side and stay in the city I went to college.

But the things got a little bit different from planned: the job is boring as fuck, little to nothing related to finance; lack of meritocracy, management positions attainable only through political power/prowness. I recognize that I performed a weak due diligence of what the job and all what comes with it entails.

Not learning new useful skills and lack of a career track are really making me question if it is a good move to stay. Many people stay there for their entire lives, there are analysts with 35+ years of tenure. Yes, analysts. I am becoming to the conclusion that is too much risk (and sad) to be stuck without developing new useful skills and depending on the longevitity of a government bank to make a living. But leaving a very cushy yet boring job doesn't seem the right choice right now given the macro factors.

Currently I am focusing on networking with directors/managers in the bank to engage in more interesting projects and possibily change divisions.

One option I was considering is applying to a top MBA in US/Europe around 2019 (3.5 half years of work experience) and go back to investment banking, but need to explore in more depth the options/exit opps and if I have a shot with M7.

Well, that's it. Sorry for the long text, but I think is the minimum for a reasonable amount of context.

Best,