Pros
Good WLB, at least for my larger team. This did fluctuate, sometimes very busy, but manageable, then other time very slow. You can find projects to work on or ways to contribute during slower periods, but will take effort.
You work with really smart and helpful individuals.
Great environment to start or finish out your career; not so much for the middle years where the focus may be advancing skill/title and/or income.
Cons
If your focus is on advancement and income generation. This may not be the right fit. Pay is typically below market (for current workforce) new hires come in at/above market often, But unlikely you will see any increase for a while.
Internal movement is challenging and doesn't actually happen as suggested during the recruitment process
Promotions take a while and may not necessarily include a pay raise
Keep in mind that you will also be nickeled and dimed; meaning your "benefits" are not as generous as they initially appear. Often finding that where something is given in one place is it taken back in another. Seems minor but this can add up.