Pros
Little work to do if you know tricks to please the upper management.
Cons
100% trader driven environment. No systematic strategies by industry standards. So-called automated trading is a propaganda to fool junior people and candidates. Projects are created to fetch resources and fuel political fights. Devs are mobilized for developing barely tested strategies. Everything is promising but nothing is working. Claimed to be cooperative but effectively silo. Deteriorating transparency and suppressing bad news. You will find people and teams disappeared for no reason if periodically checking the name list of employee. Pay is probably acceptable for your first year (if you can't get any offer from other firms) but will not grow---This is reasonable given the profitability of those "strategies". Stay away if you want to gain any meaningful experience and pursue a quant career.