so IB or not?

I read this post on BW forum today, about an intern's experience in a IB in HK. What this guy was telling is really frightening, and it definitely shaked my intention to work in IB after MBA. But what's more frightening is: I totally believe that guy. Those kind of things: long working hour, monkey work, layoff happens in IT industry too, especially when I first joined as a "graduate trainee". But it's really hard to imagine, that I'll do those once again when I graduate from B-school? No way! But somehow I can't help but wonder, is it the case with every industry? At least I've heard similar things happening in consulting firms. Is it like the more you are paid, the longer hour you'll work, and the harsher your colleagues will be, and the more stupid your work content will be?

So IB or not?