Pros
On the surface, it looks like an ok place to put on your resume. However, they oversell this and the reality is that it's not what it used to be. In the 80s/90s, the myth is that Bernstein carried a good reputation. These days that's unclear at best.
Cons
Too many to count, though will try to note some of the main ones. Generally, if you have any other remotely close option, or care about your mental health, do not take a job here. - Majority of people hate their job - the Associate role is a revolving door. Most everyone is either planning their exit strategy or has recently started. After about 6 months, most people start looking for other options, then leave once they can. - Unhealthy work culture - office politics determines success. Performance is based on gossip (getting one person to tell another person to tell another person that you're doing a good job) rather than anything substantial - Management is bad. Middle managers are simply the individuals who were Associates and never left. They have minimal experience managing others, and their goal is to look out for themselves (often at your expense) - Horrible job at creating an environment where you can learn. They throw you into a role without proper training, and then punish you for any mistake made. If you make 3, general policy is that you will get fired - Compensation: lower than industry average. When factoring in the hours, this drops even more. They try to tell you that you are being compensated in part through great "training and skills"