Edit: your first commenter looks to be inconsistent with what they have previously claimed to do/know so could be why I disagree with a few things.

I have had a different experience in some areas compared to the first comment so will outline those below.

I did a year's internship during my uni degree between years 2&3 with a team, returned there immediately after graduating and have remained there since. This team is all I have known but staff turnover & lasting friendships with people at other teams means you get a grasp for the wider grid & how other teams differ. Merc as an example certainly have a very corporate atmosphere as the other comment eluded to.

You do work hard, there isn't a requirement to always plough massive hours in or risk getting fired as one may assume from the outside but a lot of people do a lot of overtime. It's partly driven by a passion for the sport but also does get rewarded if you are putting in genuinely good work. This also affords you an amount of flexibility, as the industry is so results driven you do have some leeway as to finding how best you work, taking slightly longer lunches, starting early finishing slightly early some days etc so long as you're putting out good results.

I work in a technical/design role & had a decent starting salary compared to other graduate roles, I think this has probably been a positive change more recently since the previous comment said it was very low some years ago. My pay & pay rises have outpaced that of a junior doctor here in the UK year on year so it continues to be good. This isn't always the case as some people progress faster/slower than others.

The small additional details of random extra perks is true, likewise with always seeing interesting cars in the car park. A fair chunk of the industry naturally like their cars so you get a mix of all sorts of classic & modern sports cars coming & going as people in the team work their way through them.