Pros
Compensation is ok.. People are nice and hard working for the most part. DB may be a good way to get your foot into the Investment banking world, but DB isn't a place that you will likely stay.
Cons
Management / opportunities for advancement are minimal. Management is only looking out for themselves - which happens elsewhere too but DB Mgmt is not wise enough to see that treating employees well will pay off by getting loyal, hard working people. Instead, it's typical to use someone up, and they'll quit. Then Mgmt has to train someone else to do the job. Advancement is basically nill - you can only really advance if someone higher than you quits (which does happen fairly often but even so, you aren't guarenteed a promotion - even if you deserve it and are very capable of performing the position.