Pros
VPs are allowed considerable discretion with how they manage their teams day to day. If you get hired with a good VP as your manager, they basically can make your job a lot easier.
Cons
Upper management is autocratic and temperamental. The direction of the business, and different initiatives, change monthly depending on the CEO's whims. Everyone is afraid to challenge him. A classic example of founder mentality that is holding the company back from the 21st century. No communication is allowed between the sales floor and other departments such as credit or documentation. The overall feel is secretive and cloak and dagger like you're working for the CIA. You are not encouraged to learn anything. Financial statement analysis, running rates, really anything that would allow you to make a career beyond cold calling.