Pros
Not too many. You can get negotiate for a pretty decent starting salary and be content for a year or two. There is also a slim possibility that you will get an interesting project or two under your belt. Also, if you want to break into consulting, the company may be your best shot given this anemic economy.
Cons
The company is going down faster than the Titanic - and there are few lifeboats left given the economy and the perception that most of the talented folks have left the sinking ship. The stock price is in the toilet and morale absolutely sucks. I believe the debt to equity ratio is around 3:1. There are weekly layoffs - people who are on the bench for 2+ weeks are given pink slips regardless of how talented they are or their prior contributions to the company. Raises and recognition is non-existent. The average raise is around 2% -- if you get one at all. Management only cares about their numbers, not career growth or progression. I heard about one Managing Director telling his subordinates that he 'only cares about making money and not making you guys happy'. Absolutely pathetic attitudes from the MD level all the way to the executive level. The CEO is clueless - his response to growth strategy on an analyst call is 'to improve and show growth YOY'. Doesn't sound like he'll be writing articles for the Harvard Business Review anytime soon.
