Pros
The level of autonomy that you're given as an analyst - combined with the instant access to senior business executives - allows you to learn fast. It's not often that you can get this kind of experience at an entry-ish level job.
Great travel opportunities
Very smart and motivated colleagues
Good work/life balance
Cons
The pay/compensation was poor, especially considering most analysts had advanced degrees
While there was a lot of autonomy with regards to day-to-day work, strategic decisions were extremely concentrated at the senior management level with little-to-no buy-in
Way too much emphasis was put on the accomplishments of the commercial and consulting teams. At the end of the day, clients pay for the research.