Pros
Some folks joining from Indian IT majors like Infy, TCS, wipro may find salary lucrative. If you are laid-off, you may get few months of salary as severance pay.
Cons
Wealth Management Technology division seems to be too confused. They hired an MD few years back and made him leave within 2.5 years because he was trying to bring power to Mumbai office and trying to create true leaders. On the US side, another MD was hired who was also made to leave within 2 years. Then, another MD was brought in his place who resigned within 1 year and then took his resignation back within a month. But resigned again after 1 year. The folks at Executive Director level (which is equivalent to a Manager role in other IT companies) seriously lack team leading skills. But they are not to be blamed because they just adapted themselves to overall company culture. Strangely, Management's ideology is to maintain an insecure environment because they feel that is the only way people will perform to their potential. Do not ever raise concerns unless you have another job offer because you will be next in line in the firing range. Layoffs are very common irrespective of company's performance. Mumbai office management is still struggling to create a positive culture even after so many years. Senior management recently did a brainstorming and came to the conclusion that reason for bad company culture is the employees hired from Indian IT services companies and they feel folks from other Investment banks are better fit for their culture as they already have the habit of being a slave. So, they have now started to target those employees for layoffs. Very intelligent management, I must say.