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Before I say anything else I want to be clear that I did really love working here and did really enjoy my job. But I also want to make it clear that it is extremely difficult for women to break into editorial jobs at the magazine. During my many years there, there were only two female editors. And neither were ever given an office. It's a very male-dominated culture, and I don't see that changing anytime soon. Again, I worked with some extremely talented people, and on a day-to-day basis I was usually very happy. But I would say to any woman considering working there: Go in with your eyes open. Get experience, put the name on your resume, and then move on.
As for work/life balance, there is very little. The hours are long (as is standard for publishing), and there is no flexibilty with hours or working offsite (although the online department may offer some ability to work from home, not sure).
I worked here for a very long time and was very happy in many ways. Really smart people and colleagues who were like family. But now that I'm gone it makes me slightly ill to think about how much of a boys club it really is. Ninety-five percent of the women there are in support positions. There were only two female editors in the decade-plus that I worked there (not including online, though that was never a priority until the last few years, so...). Very few (less than five) women there had children. There was zero work/life balance. I asked for every raise, promotion and title change I received, unlike the men I worked with. If you choose to work there, be sure to go in with your eyes open.
This is a decent place to work if you are young and single and don't need to prioritize life outside of work.