Cambridge Associates vs Strategy/M&A at F500

Hi guys, first time posting here. Would like to seek some advice between choosing an offer from Cambridge Associates (Investment Associate) and a Strategy/M&A (Analyst) role at a F500 ($10-20B market cap). This would be my first job right out of college. Might take an MBA in the future but still undecided on that.

For CA, as you know, they are in the investment consulting business and this role will sit within their consulting team covering alternative investments.

For the strat/m&a role, workload is about a split of 50/50 between Strategy and M&A, and the direct boss (a Director) is ex-MBB. This role has high visibility within the corporate and it was made clear to me that their strategic growth plan will involve a big appetite for M&A, having already made several acquisitions.

In terms of exit opportunities, I am very much open to many options and not dead set on one path. Understand that these two roles will lead to very different exit options, but I would just love to have hear the thought process of you folks. In particular, is investment consulting any worth going into? Also, I definitely prefer M&A work more so than Strategy, hence I am wondering if an ex-MBB is the best person to work with/under in this context.

Appreciate any advice.