Pros
The junior people are all very friendly and nice. The firm, or my group anyway, tends to be pretty forgiving about letting you get out when you need to. I haven't had a problem with that. Access to senior people is definitely there if you want it, also. As junior banker, I've spoken with one of the Co-Heads of Investment Banking personally, and he was very open with me. People here tend to be pretty laid back in general.
Kontras
The pay is definitely not on par with the street. Since it's a small bank, you can end up doing a lot of Biz-Dev work, and co-managed deals, and you never see something that makes its way onto the frontpage of the Wall Street Journal like you would if you were at buldge (potentially). There can be a very hierarchical attitude, here, as well--to the point of creating frustration and inefficiency. You can get a lot of assisine requests from senior people who think it's your job to do something, when the process of telling you to do it wastes more time than if they had just done it themselves (example: sending out a meeting invite). This is definitely true at larger banks as well, but you would hope to escape that BS here.