Yes, US business schools are digging a little deeper for business students. The top schools have always received applications from Europe and Asia, but increasingly more of those students are being recruited at the source. One of the reasons is the declining enrollment figures at b-schools which I cited in the post. Another is that there is increasing competition in Europe and elsewhere for the best (potential) business students. Finally, there is more competition at home, i.e. here in the US. Whereas in years past top prospects from Europe only looked at top business schools, during the 90's many began to broaden their searches beyond just the top 10 schools. When word got around that an excellent MBA experience and education was to be had at perhaps 40-50 business schools- and sometimes for much less than what the top 5-10 charged- word spread quickly and European students started showing up at business schools that typically hadn't seen them in such large numbers.

Now about your plans. First let me say that as an electrical engineer interested in business, you have much in common with me when I was your age. One thing you may already know is that lots of engineers go back to business school and with few exceptions, business schools welcome them with open arms. There are several reasons for this. A lot of management work requires what I call hard skills, especially the ability to analyze large amounts of somewhat technical or quantitative information and to formulate sound conclusions or make informed decisions from it. I say this knowing full well about all of the "soft", i.e. interpersonal and communication skills that are also needed by managers in today's global and diverse workplace. Still, it does not change the fact that analyzing numbers and other technical information is indispensable. What I didn't know this when I started busienss school is that engineering school, as well as a background in the sciences, can be very good training for a wide variety of the managerial, analytical, and functional positions, of which modern organizations are replete.

Another thing for which your background has trained you is what I call theory- or rule-based thinking. You are, by now, used to the idea that there are relatively fixed laws or rules that govern or explain certain phenomenon. Once you get used to thinking in this way, it is not a far stretch to apply that perspective to the study of other systems. The catch, of course, is that organizational processes involve, by definition, people and are not nearly as deterministic as those found in the physical and natural sciences. Still, much of what you will have learned about systems analysis and a design, will come in handy in business school and the workplace. That is to say, you will find problems and challenges in the management context are often amenable to solution with models or frameworks not unlike - and sometimes exactly like- those you used in engineering school and the "real world."

Finally, another distinct advantage that you have relates to your likely high familiarity with and understanding of information technology, as well as the underlying theory and science. At a minimum, this could mean that there may be an especially important place for you in a technology management role or in an MIS organization within a firm. As organizations and their business models and processes become more dependent upon the use of information technology, the need for people with skills in both domains will only increase. If you know management and technology, you won't ever likely want for work.

To sum up, I'd highly encourage you to pursue and MBA education provided it is something that truly interests you. It is very likely that should you get admitted to and do well in a good program, you could as much as double your salary by the time you graduate or not long after. I did. That said, if money is the primary motivation, I'd say don't do it. You wont enjoy it and you won't be able to fake your way past campus interviewers who will be looking to see how motivated you are about a career in management. The job interviewers will detect this too.

If I might suggest on more thing, it would be to look at an article entitled: "Russia's boom exposes business education vacuum". I have provided the link below. The article should dispel any doubt you have about just how much the world is in need of high quality management education and high quality managers. It is not, my friend, an overstatement to say that the world would be a better place if there were more, not fewer, MBAs! ;-)

Business

Business education

MBA

Further Reading
What’s Really Wrong With U.S. Business Schools?