Pros
There are few pros that I can recall. As another reviewer says, there are several over-the-top staff outings throughout the year to feign some sort of positive company morale. These in no way make up for the anxiety-ridden and disappointing environment you're forced to return to the next day. You also get free snacks, so there's that?
Cons
Overt favoritism. Gossip, and a bit cult-like. You are constantly terrified of being fired, yet in the back of your mind you think at least you might gain a degree of your pride back. One senior staff member spends quite possibly more than 1/3 of the work year out of office, either "working from home," "sick," or for no apparent reason. Junior staff members are told they aren't devoted to their job if they're not overbilling their time (something which senior management so idiotically overlooks...given the pressure to bill 95 percent of your day, guess how much of that time is actually accurately entered?). If you're not willing to work weekends, nights and any time you'd expect work-life balance to win reason, you're told that you're letting management down and lack devotion. Additionally, if you're not a "favorite" of the regime, you are consistently given one area that you are supposedly "underperforming" in. You are not given any sort of mentorship or advice to help improve your work performance. Instead, your expectations are raised even higher, making every work opportunity perfect for someone to be able to tell you that you yet again failed. The power-hungry upper management not only gossips about its employees behind closed doors, but I have been in staff meetings where associates are publicly insulted and are not present to defend themselves. In the past 3 years or so in which I've either worked at or been following the company, the turnover has been no less than 10 people who have started and resigned. If the company is interested in talent retention, they demonstrate no effort or desire for people to stay. Performance reviews are an opportunity to be told why you're not as smart or talented as senior staff. If you "need improvement" in certain areas, you will not be equipped with the knowledge, tools or encouragement to improve. If they want you out of the company (which is alarmingly quite often the case, given the fact that they hired you), they'll find a reason for you to leave. Or in my case, they'll give you plenty of reason to voluntarily leave.