Return to ECM in order to lateral into industry, or return via BS?

As the title suggests, I'm a little stuck regarding my next steps and would appreciate any guidance/views.

I spent 2 years in ECM, where, despite the slowdown in markets, we were extremely busy. By the end of the 2 years, I started looking for a potential exit. I didn't find conventional PE or GE roles interesting at the time, so it didn't bother me that ECM wasn't conducive to them in the first place.

As a result, I mostly recruited for Corp Dev/Strategy roles at Startups. I managed to land a Corp Strat role but quickly realized it's not the kind of work I want to be doing long term. I miss the variety of working with different companies, working on transactions, and the general corporate finance lens.

I'm considering the following options below:

1. Return to ECM and try to move to an industry team internally:

   Pros:

   • Substantial pay bump compared to Corp Strat role
   • More exciting work
   • Potential to rectify ECM stigma if I manage to move internally, opening up optionality of recruiting for PE/GE thereafter

   Cons:

   • Work-life balance dramatically decreases again for quite some time (probably will need to stay back in IB for a few years)
   • No guarantee that I will be able to move internally (would return as A3, making it difficult to move internally as an associate - too senior?)
2. Stay at startup and go to Bus. School next year (and then return to IB in an industry / coverage team):
   Pros:
   • Greatest option in terms of life experience (opportunity to attend a great school, building an expansive network, etc.)
   • Potential to take two years away from work
   • A different path to moving into a coverage/industry role in IB directly as an associate

   Cons:

   • No guarantee that I'll manage to get into the programs I'm really aiming for (H/S/W/M7).
   • Opportunity cost (Student loans + lost income)
   • If my long-term goal is not to be in IB, I feel like a post-MBA associate role may not be the best option. However, I don't think I'll be able to recruit directly for the buyside post-MBA with pre-MBA ECM experience only?
3. Stay at the startup and try to move into VC:
   Pros:
   • Interesting work and in line with my long-term career goals.

   Cons:

   • Despite this being easier to recruit for with an ECM background, it still doesn't seem as easy as with coverage/industry experience
   • VC market is extremely slow at the moment, with very little recruiting and most funds performing badly (would ideally need to land at a good firm, which is even harder)
   • Beyond the market, VC recruiting just seems far less structured, leading to execution risk regarding actually landing a role

Any insights/guidance would be greatly appreciated!