Pros
First 1-2 years out of university is beneficial to get your foot in the door and get some experience.
Cons
They promote people based on: Popularity (how often you go for work drinks with head office and the inner circle). Looks (a number of people have slept their way up) There have been scenarios where a manager leading a failing project and still been promoted (all while the team are "underperforming") There is a ceiling at this company, one you are over 5+ years they don't have the calibre of projects to continue development, so unless you get close with senior managers in one way or another... You won't be promoted and consistently told you're not good enough. Senior management in formal meetings (promotion meetings, redundancy meetings etc) can be extremely unprofessional.