Pros
Great hiring process and tends to land well above-average people, especially in M&A. Depending on the role you land, work-life balance can be very attractive, and benefits and pay are competitive. Problems tend to be interesting to solve, and very cooperative and helpful culture compared to other large organizations. Excellent place for either college student looking to work at a great company for a few years before their next step, or a middle management type with family priorities who can accept a good work-life balance and great culture in return for marginal career growth. Roles and org structures tend to shuffle every 12-18 months - this can be an up or a down depending on the situation. Credit roles are overvalued to a fault, but if you can land one its an excellent way to accelerate career growth.
Cons
The last five years have brought a few changes: First, a number of extremely competent senior leaders have left the company. In addition, career advancement at all levels has slowed significantly and, as at many large companies, become more based on executive favor than competencies or results. Depending on your role and your management chain, you can have either a favorable work life balance or find yourself working I-Banker hours but without any commiserate recompense. Promotions lately tend to be based more and more on political positioning and executive favor; as a result senior and middle management tend to lack fundamental management skills, leading to low morale and turnover in middle and junior buckets. If you're ready to play the game you can do well, but don't expect much career mileage out of the quality or quantity of your work.