Pros
Decent compensation. Some teams are very strong. Some projects are better than others.
Cons
Disclaimer: these characteristics are not consistent across the firm, but they are more prevalent across certain teams. Do your homework before joining a specific team. Favoritism and inner office politics need to be reeled in. For some SMDs, it’s more important for you to be golfing/drinking buddies with senior leadership vs. the quality of your work. Environment of some teams discouraged independent thinking. Questioning or disagreeing with some MDs can be viewed in an unfavorable manner and receive a negative response from the MD. They promote a “roll up our sleeves attitude” but some MDs feel that they are above certain levels of work and will not (or cannot) do it.