Pros
Free movies is a huge plus. I worked there from ages 17-21 and it almost completely eliminated my entertainment budget. Although they try to hire externally for Manager positions, they are rarely able to (read: inability to offer competitive pay). This means there is always oppurtunity for advancement from within. Obviously you have to be good at your jon and want to advance to do so.
Cons
A major con can be if you're at a slower location, you're not given the budget needed to make the kind of impact the corporate offices expect. This can hurt morale and cause General Managers to take the first oppurtunity to leave the slower location (this can aso be attributed to the fact that high volume locations come with a higher salary for the GM). Also, once you reach the Hourly MAnager level, the lack of Senior Manager positions can cause talented HOurly manager to become frustrated and bored (lack of challenge).