understanding the role of FIG as a potential MBA associate

So I am applying to B-school (sorry if this section of the forum is not really where this is supposed to go) and I have previous experience, about 4-5 years, in financial services FP&A and corporate development (no real deal work, more just peer group analysis stuff. Did do a very small deal tho.) . I will probably get lumped into FIG, which, I don't really mind as it is pretty much aligned with my long term goals. Also happen to enjoy the industry (my pre mba experience was positive). I haven't even applied to school but I have some solid stats. crushed the gmat so if anyone wants some advice on that happy to give it. 

Could one of you guys maybe walk me through what FIG looks like at the IB associate level? Are the hours truly that bad compared to other groups? Keep in mind i'm totally green on IB, really just starting my research now. Does the FIG group handle everything between coverage and M&A? Are there separate groups for that? Again feel free to roast me but my investment banking knowledge is literally next to none as I am just starting this process. Thanks my guys