Pros
Junior level (<5 years) compensation is extremely competitive. The best (or at least top 3) on most products that we trade. Smart people with not that much ego. Pretty transparent bonus structure encourages people to help each other, promoting a friendly culture compared to other silo-ed firms (etc. Jump)
Cons
Not that much upside for the best guys - some talented traders are moving to other competitors to get paid more. In contrast, there are also some people who can't get paid not even half of what they get paid at Optiver if they leave, hence lowering the morale. Not much incentive for shareholders to take risk (e.g. exploring new products - cryptos, equity options, swaps and swaptions, etc) The best traders don't always make the best managers (see what happened at Intel vs IBM), but there is no choice because managers get paid more. Reviews are getting little obscure as traders get more specialized, and its hard to compare apples and oranges.