Does an MBA increase your chances of being promoted internally (to SFA), or more likely to get promoted than your non-MBA peers?

Hoping to hear some of your thoughts on this. I've been working really hard at my current job and have been told that I'm a top performer. Many people in my company and department have MBAs.

I am not currently pursuing an MBA but others on my team are. I guess what I'm wondering is, in your experience, would that alone put those pursuing MBAs/MBA grads immediately above me in terms of being considered for a promotion, or can I count on work performance to be the greatest determination of what management would be considered promotable?