Pros
good compensation, free lunch, great benefits, and definitely a career builder. Blackstone's reputation is everything and a successful few years at Blackstone will open pretty much any door in the Financial Services industry. The talent is top notch and so are expectations -expect long hours and a competitive environment. Because the company has more money than God, there are few budgetary limitations. Working here, you will get the opportunity to learn from seasoned experts, get exposure to extremely high level professionals across a wide range of products and services, and if you're up to it, Learn how to consistently deliver your best work.
Cons
Lack of diversity. Women and people of color are generally only found in support positions unless they have highly impressive Ivy league credentials or have sold their souls and clawed their way up the ladder. Highly competitive environment. Highly ambitious people who are often narcissistic and/or sociopathic. Still holding on to the outdated Wall Street boy's club culture, especially at the top levels. Expect to be thrown under any passing bus - people are encouraged to advance themselves at the cost of others. Blackstone management routinely find any small flaw or criticism rather than recognizing or rewarding success which makes many people legitimately paranoid. Very difficult to have work-life balance. Burn out is common. The corporate hierarchy drives a class based culture, so there's a lot of brown nosing and different rules for the elite executives who are treated like Gods while everyone else does the actual work.