Vantaggi
(1) Work-Life Balance: the company is moderately better in this regard than the industry average, so if you come from the areas of public accounting or investment banking, you can expect to work fewer hours on average. (2) Compensation on an Absolute Basis: overall the pay is above average if your benchmark is the average compensation earned by all workers across all industries for your age (unsurprising given that financial services firms typically pay more than other firms).
Svantaggi
(1) Culture: the company culture can be a bit weird. In general, the firm takes a very conservative approach with all things and can be very slow to adapt or change (which is something that can be difficult for today's younger professionals). The structure of the organization is somewhat hierarchical and there is a general opaqueness to everything (you're more likely to hear about a termination or new policy through the grapevine than through a memo). (2) Lack of Remote Access at the Analyst Level: this is a true oddity in the financial services industry. At first, this is pitched as a positive: you don't have to worry about work once you leave the office. The problem with it is that it can be very difficult to leave the office if you're saddled with lots of work (as is often the case), so you're often hopelessly stuck spending many hours in the office into the night. (3) Compensation on an Relative Basis: compared to other areas of the financial services industry (e.g., portfolio management, investment banking, direct private equity, etc.) compensation is relatively low, both in terms of salary and bonus (even if adjusted for on a $ per hour basis). Even for a PE fund of funds, the firm's total compensation at the analyst level is below average. (4) Working with Many Different Partners/Teams Can Be Frustrating: because different partners have different expectations, there's not a standard way of approaching the same problems if their posed by two different senior professionals.