Pros
You will enjoy most of the people you work with, and will get competitive compensation in addition to above average benefits and random perks or freebies. Office has tons of free food and drinks of all types. PE employees are rewarded lavishly and often, but ops/admin people get some trickle-down. They have made efforts to equalize this with an all-employee profit share (don't expect much though in a non-PE role). Make the right connections and you have access to connections no networking event would offer. Intra-team connection and mentorship is highly encouraged, helping greatly in the adjustment of new employees. Also, if you like free alcohol, this is the place to be.
Cons
Expectations are often for subordinates to work as often and when their superiors do. Depending on your department and role, it is not uncommon for you to be expected to work long hours, be available 24/7, be in office beyond standard business hours, and/or stay up all night without notice to handle certain situations. Those hired with hybrid or remote expectations during COVID are being given strict back to office rules that were not mentioned in hiring. Promotions can be heavily based on connections, and they do not promote people who are too good to move in the admin department. They do not believe in PIPs, once you are deemed a questionable employee they will fire you and escort you out the door, after reminding you that the employment agreement you signed at hiring stated you would not communicate with [former] coworkers or speak at all about the reasons of your departure. So, you either leave of your own accord or with a very cold touch: be prepared. Austin office is impossible to get to/out of during certain events (ACL, presidential visits, parades down Congress, etc.).