Pros
For a new grad you learn a lot and you get to work on cool projects/contracts that you virtually wouldn't anywhere else. What you learn and gain can take you many places.
Cons
Terrible work life balance. The unspoken expectation is you put in the hours to get what's needed done so that you're 'not a blocker' to schedule. This can mean staying until 6-8pm running tests (although not always). Schedule is always changing more than not, so hours can also be very inconsistent. No direction or clear paths to long term career development either. High cadence of testing and production means always running the same procedures over and over again. You learn a lot, but after that, there's more to be desired.