Pros
Base salary is good (not great though), access to more than enough sell-side research and industry research houses (like IDC, Gartner, etc) but don't get enough time to read them; Brand name; Benefits are good not great; Local manager and on-shore manager (not the analysts I work directly with on daily basis) are both very helpful but lack real power in taking actions because they are not that senior in the organization; lots of opportunities to learn new things but no time.
Cons
Having worked in sell-side research for 3 years all the points below are as compared to my prior experience in sell-side ; Mumbai office people work as mid-office people where bosses sitting in NY are not willing to break silos (doesn't even read my emails and then next day asks for the same work); Don't embrace technology and still prefers doing things manually which can easily be done by the data science team; Will have to work for 2-3 people on-shore who absolutely lack collaboration and will give access work and not enough time to do that work; Colleagues are not at all helpful; Lack of resources like Bloomberg terminal (2 terminals shared between 75 people); Lack of access to data science team or the fintech team to automate routine tasks; Bonus is about 10%-15% which is nothing as compared to sell-side or IB; No scope of moving on-shore even after working for 3-4 years in India and covering 5-6 companies sitting from India.