Pros
Great opportunity to work at high tier companies (mostly financial) that will help you get a job placement in the future. Lots of exposure afterwards.
Cons
1. Sales people will try to place you at the job that suits them the most... least amount of work to wait, least amount of trial period. Make sure to ask about all job offers (if more than one) and get the one that suits you the best. 2. First two years you get paid terribly. You cannot live in the city alone with that kind of salary. 3. i went through the dev cycle, but because i didnt get placed within 2 months, they pushed me on a support role but sold it to me as having potential lots of dev work. When i wanted to erase the support stamp, they urged that i stayed in the company only because of the name and hope i find a dev job internally.