Pros
You gain insight on the valuation and due diligence process. You work with industry recognizable clients. You have the opportunity to create your own autonomy , ability to manage workload. If you know the system its easy to navigate it. You can stand out if you work hard.
Cons
With the exception of a few directors and MD's. Leadership generally does not put effort into developing a teaching relationship with the Analysts / Associates. It's a revolving door and it's known. Generally, these managers are complacent and passive people. They like to maintain a status quo - of average work product, expendable resources, and a hands off approach to internal mentoring and career development. It's a put your head down and do your work environment. Pay is average. Little workplace culture, honestly a lot of coworkers are very introverted and lack social sense. Speaking for my particular office - I've heard other offices like Chicago / Philadelphia are better at this.