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Can’t comment on that specific program, but what’s your end game for after graduation? If it is ultimately a non-research position such as consulting then masters followed by PhD isn’t necessarily the optimal route. The opportunity cost of being in the PhD program includes lost salary, years of experience, and probably a promotion. Just something to think about.
Cool just offering those two cents. Also with your PhD you can earn a masters along the way. Some business schools will allow you to get an mba along the way but I think at your own expense (Chicago Booth offers this I think).