I just posted that same question about getting a Masters vs. a Bachelor’s at Pratt since they offer a masters to non-design graduates…
What I have been thinking about is what kind of job do I want to get, a design-heavy job or more business design-management job. I looked at IIT and based on what I’ve read on Core boards seems like it’s a good program for business/design/strategy. I too have a business degree and it might help to decide what you really want from your education. Each school offers something different from another (otherwise there would be fewer school options I’m sure) and the best thing is research, research, research.
I recommend beginning with what’s most important for you and narrowing down from there. Master’s programs in any discipline at any school seem to me best for those who want take things to the next level…