Pros
Great snack selection, nice office, friendly teammates, managers whom care about your progress. Decent WLB. Could well feel like a 5-star experience as long as you don't rock the boat or ask too many questions. Management frame firings in a merciful way, so you could be gleefully unaware of office politics.
Cons
Insidious office politics. You hear about people getting called into an office, leave, and never come back. They are given no indication where or even if they need to improve; HR comes up with an excuse. Management responds poorly to unpleasant feedback -- they send mixed messages, some of which are false, then it becomes clear you are disposable. I don't know if turnover rate is higher than other places, but it sure isn't done in a compassionate or caring way. I can empathize that they are under a lot of pressure because the firm's competitiveness has been slipping and they can't afford to be anything but ruthless, but burning bridges like that should not be normal. I'm still in contact with people there, and it seems to have gotten worse in 2020. To potential and current employees: be very, very cautious and keep your guard up. Think twice about joining if ethics or security are a priority. Have an exit strategy but act otherwise, because management is under a lot of pressure and you don't want that pressure directed towards you. Keep any concerns not directly related to your work responsibilities to yourself.