Pros
The single best "pro" is the culture of the company. It values diversity of experience, skills, personality, and desire, and finds ways to foster those to bring forth great value to the consultant, the client, and the company. Consultants have the ability to say no to work, something you won't get at many consultancies. It's a fantastic work/life balance, allowing consultants to determine what works best for them at any given point in their life. But it's not a staffing agency - there are mechanisms to build your skills, build a network of other consultants and colleagues, and work together in a network model that is more akin to where many companies will be heading. There is no hierarchy, meaning that any consultant can take a lead on client work, a new offering for the network, or business development with a new client. And when one does that, the owners ensure that the people taking initiative are recognized and rewarded, even if there's not an immediate payout to the company. The work with clients varies, as with any consultancy, but consultants are able to find their niche and grow specialty skills in an industry or area of work. The back-office works quite well, with no issues on being paid. The recruiting continues to find amazingly talented individuals to add to the network; this helps to being new skills and colleagues with whom to grow your own individual experience and skills. I started off thinking I'd ride the wave as long as it lasts. It's still going strong and I am enjoying the ride more and more.
Cons
Historically the company has been focused on one industry, leaving it vulnerable to business cycles in that industry. Management has been placing a concerted effort on diversifying the client base, though progress takes time. The structure requires people who are self-motivated. There are people to help find you work and there is structured on-boarding and help with clients when needed. But the expectation is that consultants will speak up when they need help. This can leave some to flounder a bit if they aren't willing to speak up soon enough. Some complain that they can't get "into the inner circle" or can't get new opportunities. This can happen for those who, again, don't speak up enough. The management will look to people to step up into new areas of opportunity, rather than giving people something to own and then see if they're willing to do it. If you're willing to just jump in, though, the work is rewarding, both financially and emotionally.