Go for Summer Analyst or FT roles?

Hi - I am a master's student at UCL with experience in VC & PE internships in the last two years. I am trying to break into IB but I am extremely concerned with the current market situation (job cuts & many banks not hiring many FTs and instead recruiting from their SA class).

Does it make any sense for me to apply for SA roles instead of FT roles? Or should I stick to solely applying for FTs and hope for the best? Also is it not possible to apply for both SA and FT roles?

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