Too many to list. For starters, management has zero appreciation of work that associates and analysts put in. Working environment is toxic and emotions have to be hidden from managers because everyone is uncomfortable.
One recurring thing I've seen is that associates consistently get thrown under the bus by Managing Directors. They're used as a scapegoat because they're "experienced enough to know why they're wrong". In addition, they're constantly overworked and close to burning out. Not sure how things can be so bad at such a small company.