Pros
Nearly everyone is friendly, smart, and highly engaged by the work they do. The environment is collaborative, and even the most junior employees (at least those with a desire to become agents) are mentored and encouraged to take on their own projects when they're ready. Definitely not the most hierarchical agency--you feel like part of a team. Lots of fun social gatherings in and out of the office.
Cons
Poor management in some areas. Contracts and royalties (critical elements of an agency's operations) are understaffed, so both move very slowly, which is frustrating to clients and staff alike, and doesn't reflect well on the agency. Senior management seemingly doesn't want to spend a little more money to vastly increase efficiency in these areas. A couple of the partners have unnecessarily large client lists, and indiscriminately take on more projects even though they don't have the bandwidth to handle them. They outsource a lot of the work to their assistants, and/or ignore a number of clients who aren't considered high priority. The obvious solution would be to take on fewer new projects and work more conscientiously, but they don't seem to think there's a problem. Though their growth is technically encouraged, many assistants are too inundated (mostly for the above reasons) to find the time to read their own queries and/or develop their own projects. Starting salaries are very low--hard to live on if you aren't partially supported by your parents (and impossible if you're paying off student debt). Most internships are unpaid, which feels unethical in a city this expensive (this is also the case at many other agencies, though not all). Longevity is rewarded with raises and larger bonuses, so assistants who stick it out will eventually make more money than they might at a more linear agency. The partners and business manager are too preoccupied with extracting as much work as possible out of everyone, even though they have dedicated, hardworking employees. Too much preoccupation with everyone working set hours. No flexible work options even for agents who have been there a long time or for new parents (unless you're senior management). This is unnecessarily restrictive, since a lot of the work can be done remotely (and flexibility is the norm at many other agencies). Stingy vacation policy for anyone who has been there fewer than 10 years, though Summer Fridays are nice.