Pros
If you work in munis or real estate, nuveen is a decent place to be. Real estate essentially invests the general account and its one of the largest RE investment firms. The muni business is a top shop. Work life balance is good. Comp can be very good or very bad depending on who you are, not your investment performance. Analysts get to build a track record as they manage internal money.
Cons
The equity business is horrible. There has been a lot of restructuring in the equity business, but they have made modest improvements at best, with a lot of favoritism in those decisions. People with good track records have been cut while those with bad records still remain on funds. Management continues to believe the issue is distribution and not investment performance, yet only 3 or 4 funds out of dozens are even remotely competitive. Weekly investment team meetings are regularly skipped by analysts/PMs and have very little dialogue. Management rarely, if ever, joins the calls, so they probably don't even know. There is very little investment culture, everyone kind of does their own thing.