MSF student looking for career advice and answers

hello everybody! i am a student who is about to start a MSF in europe and who is trying to understand how the financial career world looks like in the reality. i was reading the "careers in financial markets 2013" HKSI presentation [i would link it or attach it but i cannot post links in order to prevent spam and the file is too heavy to be attached] and i coudln't help but notice a couple of things:

1) shouldn't hedge funds be considered the end game? almost everyone's target?

2) they don't present IB as the game changer in your career, the thing that teaches you a lot of things and rebrands you (sort of at least). is IB STILL a valuable 2 yr start even if then you desperately want to run to the buy side (AM and HF) ?

3) when you perform "equity research" in IB (this is where ER is placed), in the CV this looks like more ER or IB (endless hours, pitches, equity/debt offerings, LBOs, M&A, etc)?

4) are the figures for IB and AM accurate? i feel like they are awfully optimistic.

moreover, i'd like to ask some stand alone questions if you would be so kind to answer:

5) given that my goal would be to place my foot inside AM and, possibly in the future, in L/S equity HF and that i am working towards my CFA, is still IB a good start or is ER preferred?

a massive thanks even for reading!