Pros
Slow pace, less stress than bulge bracket desks. Quality of work is mediocre, so can get by with minimum effort. A lot of on the road travel for a small shop so lots of time to be without usual employees.
Cons
Poor, sometimes hostile desk environment, yet the social vibe is awkward, similar to the TV show The Office. Incompetent senior managers continuously delegates busy work and thus work is mostly non-sales oriented. Senior managers also hoards top accounts, hindering everyone else's progress. Not a place where new employees progress quickly (as opposed to other traditional institutional desks which hire only from target schools.) Seriously consider another opportunity as previous jr. salesperson/sales trader has either been fired or quit.