Pros
You learn how to act like an owner fast. Ownership mindset is drilled into you - for your portfolios, your work, your life. Steep learning curve and very wide exposure. You see all parts of the PE business, work with top entrepreneurs, in one year here you learn more than 5 years elsewhere. Lots of room to play and be creative with how your approach you work once you have proven track record Leadership is effective, you can debate on whether or not you like the leaders personally, but you cant deny they are some of the most effective people around at making things happen.
Cons
Outcome-driven sink or swim culture can be challenging for those used to coasting through more nurturing company cultures. Either you learn how to navigate your ship through the storms & currents or you won't make it past two years. Its like sailing in the Indian Ocean vs in a nice calm lagoon.