MFE right after graduation vs IB

I recommend recruiting for jobs and applying into top MFEs. You should wait until senior year to decide what to do based on the available options.

If you end up in a situation where you have an acceptance into a top MFE and a full-time offer for a good role, I would recommend going for the job. Getting experience and money is invaluable, especially if it's in a front office role, and will give you career flexibility. You can always work before going for an MFE, and I think the experience from a front office role will make you a stronger applicant for a top MFE program. I think MFEs would also be flexible about enrollment, and would understand if you wanted to postpone your start date a few years later if you were to be accepted into one.

You should check the career pages of the MFE programs. They're usually extremely transparent about job prospects and what types of jobs people have gotten. Additionally, I recommend that you look at the backgrounds of the enrolled students of the top programs, and you'll see how competitive it is. I recall hearing that the main issue with MFE students is that they have the quant skills but lack a good command of the English language. If you can do both you should be able to easily land the jobs you're talking about.

Good luck!