Pros
Very few long-standing admins are highly respected and carry deep institutional knowledge. They bring needed structure in constantly changing environment. Depending on your team, the broader firm culture can be collaborative and engaging. Maybe even rewarding. The rare few managers and business leads make a real effort to show support and appreciation to the admin team.
Cons
Admin leadership tends to operate from a legacy mindset. There is often a disconnect between hiring exceptional talent and knowing how to support or retain them. Onboarding and training are very underdeveloped. Expectations are rarely made explicit, and success depends heavily on self-navigation. The emphasis on firm leanness means less time for training. Institutional structures are reactive rather than proactive. Admins are often expected to self-advocate, with few clear pathways for internal advancement. Titles are given to tenure and not job scope.