Pros
Interesting/forward thinking projects. Some very bright coworkers you can learn a lot from.
Cons
Unless you live for your job you will not be considered for promotions. PMs often underbid so they land contracts, then expect employees to donate hours to finish the project without going over budget. Pay raises are barely noticeable, and you have to hound managers to find out what it is. There is no recognition for jobs well done or going above/beyond what should be done. The quarterly awards that are supposed to be for this reason, go to the same people, who live for their jobs. They will ask you to use your personal gear for projects, then not reimburse you if any damage comes to it. While they keep the money in the budget that was supposed to go to buying or renting such gear. If you aren't in the inner circle, you won't advance. There is absolutely no respect for employees. Common courtesy is completely lacking. At monthly NY office meetings you'll hear how great everything is, that all depts are making profit. Everyone but you will forget that when you see your new pay rate.