Pros
The work is not difficult, the hours are good, the cost-of-living is much lower in NJ than in NYC. They'll pay for your CFA exams, and the performance reviews (and bonuses) are very fair. Reading the emails that bounce around from the Research side of the office is educational and entertaining, to the point of distraction.
Cons
Roles outside the Investment side of the business can get really tedious really fast. Don't think of them as a "foot in the door" so you can move over to the Investment side of the business, it probably won't work. If that really is your goal and you ignore this tip, make sure to give 120% of your effort to the job you don't want so you can get the one you do want. If you feel yourself getting really bored at work, start applying for other jobs - management really doesn't hesitate to fire people once they make mistakes!