Pros
A high quality, fully featured product suite this company offers. On top of that, the services arm of the company consists of highly competent, collegial professionals who are a pleasure to work with. Management (from senior level to project level) strongly goes to bat for the consulting resources (the company's informal statement to us as consultants is any weekend work is purely optional - the customer cannot require you to do so - after all, as the saying goes, "poor planning on your part does not constitute an emergency on mine."). On top of all the above, I would say the best part about the company is what it may have to offer in the near future for its employees. RSU's are offered upon being hired. The company has a very solid cash flow, and keeps a consistent working bench (from what I am told, nobody on the bench has ever been let go just because there was no project available). There's definitely work available, and a need for additional consulting resources - it just comes down to timing in regards to eventually getting on a project. Granted some of this may change once the company decides to go IPO, but if/when that occurs, RSU holders will start to see some huge value.
Cons
As with any software consulting position, Monday-Thursday travel is required on just about a weekly basis, which may be overwhelming for some. When you first join the company, they fly you to San Mateo for a month of product training. I somewhat felt that the trainers are not the most patient in the world when it comes to grasping a concept, but then again, the expectation during the interview/hiring process is that you must be able to grasp the concepts quickly and efficiently. After training, you may find yourself on the bench for a certain period of time (it was about 2.5 months for me, but I've heard rumors about some waiting 11 months before being put on their first project). While this may become discouraging, rest assured Guidewire is looking to keep you as an asset, as there is a constant need for consulting resources in the company.