Pros
*If you like working as an individual resource, then good news for you, since there is no hierarchy, working becomes a bit easier until the client comes into the picture. *You can take long breaks. *No set policies for anything (this includes leaves and appraisals as well, its a 'pro' until it turns into a 'con'). *Not much of guidance would be there from your fellow colleagues, be it your manager, which makes you responsible for your own actions - which is good for your personal growth.
Cons
*Poor internal communication for all the important updates from the management. *HR department is next to negligible, you are on your own for any departmental issues. *From team leads to managers to CTOs to the company's CEO, ethics are questionable. *Knowledge sharing at all levels is non-existence which makes survival for freshers quiet difficult and they end up in a "asked to leave" situation. (It's not the COVID, its the poor management skills from the company's administration) *Inconsistence salary cycles and no one is there to entertain questions regarding the same.