Pros
During my time Morningstar offered a good opportunity for those hungry to grow to learn and be given more responsibilities at a young age than you may find in other organizations. I think highly of Joe Mansueto, the CEO. His down-to-earth and Buffett-esque leadership style is laudable and I enjoyed the interactions I had with him during my tenure.
Cons
Compensation is quite poor - I more than doubled my base salary by going to a startup. It's only after several years after getting a market correction that I realize how poor my compensation had been relative to the market during my career at Morningstar. Moreover, the company's extremely lopsided management of tuition reimbursement left me with a very large repayment (tens of thousands) when I had previously been recruited with promises of tuition assistance as a portion of my compensation (with no requirement for paying back). Adding salt to the wounds, I have I have friends and colleagues from Morningstar who weren't asked to pay back anything at all at the time they left the organization while I will continue to pay the company back years after my employment ended. Through this all Morningstar taught me a valuable lesson - you need to look out for yourself and not expect that the company is going to give you a moment of thought/consideration the moment it isn't intrinsically motivated to do so. It was a hard lesson to learn and was very disappointing after having spent nearly a third of my life as a high-performer at this company.