Pros and cons of “low prestige” banks?

I'm at one of those lower prestige groups at a MM bank and deeply regret it. Would not recommend. 

Pros:

1. There is some WLB, and if you divide total comp by hours worked, it could be higher than BB / EB. This does not apply to every single group
2. People are chiller. This is not every single individual.

Cons:

1. General consensus is, if you're already working in IB, might as well just make it worth it by working at a shop with great deal flow and reputation. That will give you way better exit opps - whether it's another IB, PE/PC, HF, VC, Start up, IR, Corp Dev, etc. I know people like to look at anomaly cases and counter this argument, but in reality most people are not anomalies and should hedge whatever they can.
2. When you close 0 deals over 2-4 years of working, recruiters will be like wtf have you been doing in the past few years. Even though you might have a good story of why your team isn't doing well (it isn't an analyst's fault that deals aren't closing anyway), it's still not a good look. Remember you're also competing against analysts and associates at other banks with better deal experience and transferrable skills too. You really don't want to be those guys and girls that were in IB for 2-3 years and learned nothing. The longer you wait, the harder it is to get out with weak deal experience, because in recruiter's minds, if you were serious about your career you would've left early instead of waiting for years, riding out that WLB.
3. Good WLB is never guaranteed anyway, so might as well just work at a shop that closes deals. You don't want to be at a shop with long hours and weak deal flow. When you sacrifice your personal health, relationships, and social life, it better be worth it by you closing those deals, which would help set up your future exit opps and provide you with a great learning experience.