Pros
The US branch essentially has Leads/Managers consulting with the customers on projects. The actual development staff is based offshore. Most of the customer base is based in Texas which means less to no travel. The company does conduct pretty good social events. Compensation is slightly less compared to the industry standard but I suppose that can be negotiated on an individual basis.
Cons
There is a pervasive culture of politics and hierarchy similar to the Indian parliament. If you are a favored person of the select few in the top management, then you get promotions, special considerations, etc. The actual technical talent or speed of execution of customer projects is viewed as a negative. Obedience to the top hierarchy is valued more than competency in the job.