Pros
You get paid, but that really is about it.
Cons
Poor management. Upper management literally throws all blame onto its junior employees to save their own skin if they encounter a problem. Gives junior employees a false hope that you will be promoted "if you do your job well". What really happens is, when they run out of contractual work, you just sit there and stare at the wall, especially if they are unable to find new projects for you to follow. For newer employees entering, expect it to be a "sink or swim" methodology. All they will do for training is just throw a few books at you, tell you to "learn it" and call it a day. No actual training or feedback actually happens. Work/life balance is also out of the equation if you're working here.