Questions about IB/HFs

Hello everyone,

This is my second post on WSO, if this is in the section then I do apologise! :P

I have been reading alot about careers in Finance recently and I keep getting different answers when I ask certain questions, I hope you can help me answer them :)

1. Is progression always the same - as in Analysts always take 3 years to move up, as do Associates. Can one progress faster if they bring more to the firm (Be it profit, contacts or whatever they need)

2. Do you NEED an MBA to progress - If you don't have one after a while will you not progress/get sacked? Can you move from IB to HF without one?

3. Are there many people who go straight into Hedge Funds instead of IB, do they recruit people straight from college as much as IB's?

4. Which undergraduate degree will help me most if I want to work in Finance (Math, Economics or both as Joint Honours?) I will be able to get into top 4 Universities in the UK but can't yet go due to loans/ health.

I know this is a long post so I apologise!

I live in England so maybe it will be a bit different to how it is in the US? I look forward to hearing from you!