Pros
Bernstein is known for its Associate training program - but the training on the job is next-level. In your first few months, you will have more responsibility than you would EVER have as an Associate at another firm. This level of responsibility - in managing client accounts, being a client's only point of contact, coordinating time-sensitive investments, etc. - can be overwhelming for recent grads or people who simply don't handle stress well. However, if you're ambitious and want a jump start to your career, it can be a great place to feel that competitive rush and learn quickly. If you find a good advisor to partner with, the paths for developing skills in advising (NEXT advisor training, etc.) are decent. However, the compensation for a "supporting advisor" role is most often capped - even when you would be doing the majority of the work managing the book. A $120k salary doesn't sound so great when the advisor you're doing everything for is bringing in a cool $4M per year (and not working most days).
Cons
Your happiness and success in the role 1000% depends on the team of advisors you're assigned to work with, and upon being hired you likely will have no idea who that will be. If you get stuck with rude/lazy/abusive advisors (speaking from experience), management will do nothing to help you. This is speaking for management across the entire West Coast region. The reality is that they have long known who the problem Advisors are, but at the end of the day it's the AUM that matters. Rather than confront an Advisor for inappropriate behavior and put their AUM at risk, it's easier to gaslight and wear down the Associates until they quit... and then replace them with a fresh new batch of college grads every 1-2 years. One last point - if you're looking for work life balance, this is absolutely not the employer for you. It was clear to me that every department at AB was understaffed and struggling to keep up with demands from clients, and when items are time-sensitive that will have to come from your personal time (or else, you will get subpar performance ratings).