-The work itself: The work itself can be very monotonous IF you let it be. If you get a request and only do the minimum keyword searching without at least trying to understand why your client is potentially even interesting in this, then the work is incredibly boring. You can eventually become a "thought partner" to your client, but it isn't done overnight as it really takes time and trust so that you are eventually seen more than a keyword searcher by your client. It is also hard to become a thought partner if you are generalist i.e. looking at the fertilizer industry in the morning, then looking at hairstyle products projects in the afternoon, and then looking at airline maintenance in the evening. However, there are people in research and sales that are certainly seen as thought partners by clients, similar to an equity research analyst.
-Competitors: GLG started this space and is still the largest company in the space. However, at times it seems like a race to the bottom whereby it is all about which company can send experts faster to the client. The industry while growing is getting commoditized. Who can get a relevant expert faster and cheaper ?
-Scalability: The services do not lend themselves well to scalability, but management certainly wants it to be scalable. This means that there is a trend towards becoming more of a glorified call center (if it wasn't already), so that employees are more flexible (i.e. generalists) and can take a higher volume of requests.
-Exit Opportunities: Don't think you are going to exit to the buy side or sell side unless it is to an investor relations or sales role. You will not learn analysts skills here, but you should already know that if you are even interested in GLG. The exit opportunities are not obvious but in general people that leave go for a sales/account management role at companies (generally not in finance).
-Long hours: Work/Life balance is encouraged in paper. However, if you really want to shine you'll be working long hours. Clients do not to have a 9 to 5 schedule. Your competitors could be working longer hours and delivering to clients.