There's been a couple of these, but have not seen one focused purely on IS by someone currently in IS. A lot of topics being posted about IS confusion lately, especially analyst level, so figured I'd try to help.
Long story short, since my Junior year internship I have been on an industrial IS team in one capacity or another. Graduated about 7 years ago, got my start at the holy grail as an analyst out of college. Stayed there for 2-years, switched firms and markets to get into pure IS/cover a broader spectrum of deal sizes. Currently at the VP level - have been everything from Analyst, Associate, SA, to VP. I lead a regional infill team covering multiple markets - 4 associates below me, 4 analysts/researches below them. All report to me, I report to our MD.
Fire away. Or don't and I'll feel like an idiot. Either should be humbling.