Pros
At the core, GS is an excellent place to work. The employees are very smart and management is fully engaged. They live by the mantra that their success depends on their clients success, The information flow, from the highest level of the organization, is fabulous. The pay is very competitive.
Cons
The promise/opportunity of individual success is what drives most people at GS. The proverbial gold at the end of the rainbow is to become a Partner level managing director. And in order to get there, you have to make a lot of sacrifices, both personal and professional. Employees often stab each other in the back to get ahead. There is also an annual "culling" to keep people on their toes. Many good employees lose their career this way as they get blindsided. I was laid off not because I wasn't doing a god job or working hard, but because regulatory changes were squeezing profits out of my role.