Biglaw --> Hedge Fund Transition (Analyst)

I am currently a lawyer at a NY-based law firm. I was contacted by a recruiter about a MM merger arb analyst opening. I am currently in the interview process, and I'd be interested in speaking to anyone who has made a similar career transition. Even for those of you haven't made such a transition, I'd be curious to get folks' thoughts in on the below questions as I contemplate a potential career move. Welcome feedback from anyone in the hedge find space generally, but most interested in hearing from those working at a MM hedge fund on the investment/trading side. 

1. What does career progression look like for analysts? From what I can tell, it's analyst --> senior analyst --> PM (or equivalents). Is PM the end of line? What else do PMs go on to do?

2. How stable is this space generally? Seems like a bad year can result in lots of layoffs at a given fund...is it difficult to get hired elsewhere? Law is pretty stable, so I am trying to evaluate the risk/reward here. 

3. How much do you interact with other people outside your immediate team at work? The team I would be working with is fairly small, so i have some concerns about only working with a handful of people day in and day out. 

4. What does a typical day look like for an analyst? How much does it vary? 

5. What is the best part of your job? The worst?

6. Anything else you think I show know?