Pros
If Texas was a country it would have an economy the size of Australia. The Legislative Budget Board is the agency that manages the two-year budget for the state--and staff at the agency are intimately involved with virtually every policy decision with a budgetary impact. Given the small staff this means that even fairly junior LBB analysts are assigned to important, major issues.and interact with very senior people in other agencies. Management is very flat, however the agency has an excellent promotion system that keeps talent at the analyst level without needing to go into management.
Cons
Potential employees need to understand two things. First, your ability to be successful will hinge on understanding that the LBB ASSISTS those who were elected to carry out their goals. The agency is not a conduit to pursue your independent policy goals. Second, the agency is extremely mission-focused on getting the budget done right--that's a good thing but it also means that jobs not directly in the budget cycle will often become second-fiddle to the immediate workflow needs of the agency. This also has a profound impact on careers at the LBB--most of the management structure is composed of people who went up through the budget analyst career track. Also note that you WILL have to work hard and long immediately before and during Legislative sessions. Be sure you are ready for this--while I am listing this as a "con" the truth is that people successful at the agency enjoy the rush.