IB Or IM/AM SA At IBs

I am interested in equities, so IB areas like diversified industries, M&A, GCM, restructuring, and energy have caught my eye. But, in IM/AM, emerging market funds also peek my interest because of firms like GQG. That said, I want to focus on one space and don't care much about salary. Are SA positions in IB or IM/AM more challenging to break into at IBs? My guess is IB because of the pay and hours, but I'm not sure.

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