Experience as non finance pre MBA/Masters to IB Analyst/Associate to HF?

I'm a fairly recent engineering grad aiming to eventually work for a hedge fund. I have two options, pursue a MS Finance or MBA. I understand that through the MS, I'm able to move into IB as an Analyst, giving me a chance to develop strong modeling skills and be in the HH pool for HF recruiting. Alternatively I can go for an MBA which would put me in the Associate position, therefore the HF recruiting process would be less structured. According to the forums, Associates who make the transition to HFs are the exception, which I'm fine in working towards. Could anyone who took one of these paths share their experience?

Ultimately I'll be applying to both types of programs, but I'd like to get any insight available. Went to a target school and currently working outside of finance. I understand that this will be a costly process time-wise, but I'm hoping to minimize the time spent back in school as much as possible (placing the MS slightly above an MBA). I'm deadset on working like a dog through school and obviously IB lol, I'm very certain that a HF is where I want to be long term. Thanks for your comments.