Pros
I started at IEC as an analyst and moved to an associate role at IEC. My experience was great! I was able to work on a whole variety of things: reporting, accounting, property management, underwriting, budgeting, deal memos, etc. It's a great place to work if you want to roll up your sleeves and learn the business. I got to work directly with the best brokers in California and with some of the most prestigious LPs out there. Early on Marshall and Julia allowed me to participate directly. I wasn't just preparing the work, but also participating in meetings with our external stakeholders. I started with a pretty limited scope of skills and by the time I left I knew how to find deals, underwrite deals, close deals, prepare budgets, prepare investment memos and do institutional level reporting. I had a great work / life balance while I was there. Marshall and Julia did a nice job of making a pleasant work environment.
Cons
It's not a large shop so if you aren't interested in rapid growth, which necessitates being uncomfortable while you learn, it may not be the best place for you.