LBS MFA vs LBS MBA: Analyst vs Associate Role in UK Investment Banking with 2 Work Experience Scenarios

Please feel free to look at my previous post to see where I am coming from.

I'm currently early in my career with the following two options:

Option 1: LBS MFA (Start 2026)

• Will have ~1 year of experience at a BB (FICC)
• Intend to use the MFA to break into London IB (understand this would be at the Analyst level)
• Age ~24 at matriculation
• Many people have told me my profile is “overkill” for the MFA, and that it might not make sense to use a pre-experience program at this stage

Option 2: LBS MBA (Apply in 2 years, start 2027)

• Will have 6 months BB FICC + 1.5 years at a top India boutique IB (M&A/PE coverage)
• ~2 years total work experience at time of MBA app
• Targeting post-MBA Associate roles in London IB
• Age ~25/26 at matriculation

Long term goal: break into PE, either as an analyst or associate. 
 

Here, I want to understand a few things:
1. I have seen LBS MBA employment reports and could see that massive focus is towards consulting placements.

2. Have read posts on WSO that IB associate recruiting post MBA is weak in the UK (unlike the US). 

3. Since I don't come from an IB background, I will anyways have to do a summer internship and convert it if I go with the MFA path, which means that I join the analyst batch another year late (I'll be 25). 

4. Where is it easier to transition to PE? Analyst level or Associate level? I am ready to play the long game. 
 
Would really appreciate any insight from people who’ve been through LBS MFA or MBA, or those who’ve broken into UK IB/PE from either path.

Thanks!