Big 4 M&A vs Asset Management Compliance vs Transaction Banking — Best Path to IBD (Direct or via MBA)?

Hi all, would really appreciate some perspective from people who’ve seen lateral recruiting or post‑MBA transitions play out in practice.

I’m a final‑year undergrad at a strong non‑US school and currently choosing between a few early‑career paths. My long‑term goal is IBD or a closely related deal / financing role (e.g. DCM / LevFin / Project Finance), either via a direct lateral or a US MBA → associate route.

The options I’m considering:

1) Transaction Banking / Corporate Bank (summer → potential FT)
Product‑focused role within a large non‑US global bank (cash / trade / treasury‑type clients). On one hand, it gets me inside a bank early and may offer internal mobility; on the other hand, it’s not deal execution.

2) Big 4 M&A / Deals (FT)
Industry M&A advisory team (not FDD). Expect exposure to transaction process, valuation, models, and IMs, but obviously not a bank. Historically viewed as a stepping stone, but unclear how strong this still is in today’s market.

3) Asset Management Compliance / Advisory (FT)
Large global investment platform with strong brand and culture, but clearly a control / advisory function rather than commercial finance.

What I’m trying to understand from people with real market visibility:

• From an IBD recruiter / banker perspective, how are these backgrounds ranked today for lateraling into banking or financing roles?
• Is being inside a bank (even in a non‑IB role) still meaningfully better than being outside with more transaction‑relevant experience?
• Has Big 4 M&A weakened as a feeder to banks compared to ~5–10 years ago, or is it still a credible pre‑MBA platform?
• For those who went the MBA route, which pre‑MBA background tends to tell the cleanest story for post‑MBA IBD?
• More broadly: in today’s market, does brand, function, or deal exposure matter most for junior career switching?

Not optimizing for lifestyle, mainly trying to maximize probability of ending up in IBD or a closely related role over a ~3–6 year horizon.

Would really appreciate thoughts from anyone who has recruited, lateraled, or seen these moves firsthand.
Thanks in advance.