Vantaggi
The position allowed me to develop experience and skills in risk and threat analysis, open source research and writing intelligence briefings. Working on Risk Advisory's TerrorismTracker database gave me a great overview of the different terrorist groups active around the world, while working on intelligence briefings built up my skills in writing tailored security assessments for clients. It was a perfect transition from studying after masters. The position was titled junior analyst rather than intern, which is much better on the CV, and is also paid. The team was also relatively young and dynamic, with a range of backgrounds, languages and experiences. This made the department quite social in and outside of work. Although the work was quite fast paced at times, there was a lot of support and encouragement from the team. The Junior Research Analysts had a dedicated line manager, who did a great job of ensuring personal development and providing support in all aspects of the job.
Svantaggi
As the position was temporary and open-ended there is of course some uncertainty, which is a drawback. However, my line manager kept me in the loop, and in my experience, people in the JRA position decide to move on themselves after gaining the skills they need, rather than the contract coming to an end. This seems to work well for both parties as long as you're not expecting to be in the position long term. As it is a relatively small team, options for promotion were fairly limited. Low pay (but a lot better than an unpaid internship which is now common after masters).