Pros
Free books, though this company will kill your love of reading. After a couple years being beaten down here, your next job will be bliss since you'll have forgotten what it felt like to be respected and valued.
Cons
Salaries are low even by industry standards. You'll tell yourself you're passionate about books and it's just to get a foot into the industry, but it's hard to move between publishing companies and chances are you'll be here long enough to get a really good sense of how little respect upper management has for you. You will work almost every evening and weekend and you will not be paid for it. Your commitment to your job will be constantly questioned. You'll be discouraged from even requesting overtime on the basis that doing so could prevent you from getting promoted. HR is aware that their entry-level employees are being overworked and that OT rules are abused. Do not work here if you want any semblance of a life outside the office. Finally, it's a catty, stressful place to work, and there's a chronic morale problem. It's not uncommon to see people crying in the office. I could say much more but I don't want to waste any more time on this company than I already have.