Pros
Great tax free housing allowance, great pension that you don't have to contribute into financially and can draw out as soon as you have 20 years seervice.
Cons
You really don't get to pick a good job unless you are essentially the best person in your given entry-level group (i.e. boot camp, Officer ascecion program, pilot training, etc.). The Enlisted ranks don't pay well enough to be considered a respectable living outside of the flyover States. The Officer jobs pay respectable wages, but they are on what is essentially a partnership career progression structure, but unlike law firms, you never really can make partner as an Officer unless you become the Chief of Staff of the Air Force, everyone else is always one passed-over promotion away from essentially being fired, potentially before you hit 20 years which means you loose all your retirement since there is no lessor vesting milestone. Being an Officer is an absolute sacrafice and you better be prepared to do everything your superiors say in order to not loose the game of musical chairs on the next rank.