Pros
No micro management. Management is very friendly. Excellent place to learn and groom yourself. Good working environment. No such politics.
Cons
During project delivery days you will have to sit late due to limited team members. A team member who works whole heartedly usually burdened with all the work and might not given any holidays, while other team memebers who do not bother about responsibilities remain easy and they avail their leaves as well. You will never be able to consume your holidays and there is no leave encashments. Appraisals are not as much as you may expect. When there is no work you may sit idle all day and no body will question you but when there is work you might have to sit till late night (like really late) and you might have to work on weekends but you do not get any additional incentives for late sittings and working weekends.