Pros
The hiring process is rigorous, so most colleagues who get in the door are smart and motivated. Engineering expertise is cutting edge and company’s reputation with clients is good enough in most cases to prescribe modern tech stacks (there are exceptions of course). Good in-house domain knowledge, very finance-focused. Management is very interested in maintaining Lab as a premium brand with clients; therefore most projects are not boring (again, there are exceptions of course) and the work is more challenging than your average consulting shop.
Cons
Limited to finance industry, therefore not as many potential clients as a general consultancy would have. If you’re client-facing you have to represent the firm well; it’s too small of a firm for someone to hide if they’re not on their game. Most of the time your own manager will be busy on projects, won’t have much time to manage, so if you need a lot of guidance it might not be the best fit. Communication from senior management can be spotty at times.