2nd year Portfolio management/hedge fund analyst going into M&A. What should I know before accepting the offer ??

Greetings fellow monkeys,

As mentioned in the title: I'm a 2nd year analyst at a relatively big Canadian portfolio management firm (80B$++). As much as I like the company I work for..I feel like I'm stuck at my position and I see no room within the company. (Presently supporting Portfolio managers in 483948398 type of analysis and reports).

***Light from the tunnel***: I got a call from a headhunter and he told me about this opportunity in the M&A sector.
I'm a fast learner, but I would like to know a little bit more about the daily routine and what they specifically do ??

Here's the vague statement from the hunter:

corporate finance Analyst for the M&A practice in XYZ city. This analyst will work closely with the advisory services delivery team in delivering services in due diligence, valuations, financial analysis and market analysis to companies

What I get from my discussion with the hunter is that I would work closely with the advisory services and would mainly deliver services in Due D, valuations and financial and market analysis to companies.

it looks challenging and refreshing to get away from my routine and actually be involved I like the fact that this job would be more "deal driven" than my actual one that is more driven my the market...

For all of you that works in M&A. Can you list a few must know about this sector ?

How do you see this industry going ?
Pros and cons of the M&A industry ?
Work/main tasks for young analysts ?
Ambiance?
Routine?
Overall Environment?
Work schedule?
Work family balance?
Consulting industry ?
Salary vs hedge fund/Portfolio Management roles ?

Feel free,

A young chimp trying to learn from the big Neanderthals.

Thanks,