Is MM/LMM PE worth it?

Is MM/LMM PE worth it after MBA IB Associate? People seem to exit into it, but some people say that you'll be working twice as hard as the bankers if not the same, along with a pay cut for some years and it's not certain that you'll make VP / get carry. They say, If you stay longer in IB you'd be in your SVP and atleast have some free time with good pay unlike MM/LMM PE

What's your take on it?

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