Pros
Investment banking is one of the best ways to start a career post-college. It really sets you up for a variety of jobs after your years as an analyst and a position at a top firm can really help you for whatever you pursue whether it be another job or graduate school. If you like structure, IB is the way to go because there are very strict ways in how things get accomplished. Plus, you can't beat the salary... as an analyst, not many of your friends have the opportunity to make $100,000 (and that's even with bonuses lower than usual).
Cons
The hours, absolutely no balance of social/family life outside of work, colleagues not exactly empathetic to anything going on outside of work. The lifestyle is not for everyone and might not be worth the money. Think hard about accepting an offer to an IB firm because the payoff might not be worth it.