Pros
!) Good, laid back working atmosphere. 2) Company management very forgiving for professional mistakes. 3) Largely non interfering colleagues. 4) One can plan his strategy to work without guidance, as he pleases (as long as final output is delivered). 5) Good salary, perks and living.
Cons
1) Development of contract/expat employees is lowest priority, though they are also just another employee and bank upon employer company for their growth and development. 2) Expat on contract should forget career growth. 3) Sometimes one has to report to the individual who is just inadequate in all aspects. 4) Grooming / professional development by experienced professionals already in the company is missing. 5) Wrong decisions cost company too much of money, time and resources, but noting is learnt from past mistakes. Feedback systems, appraisal systems etc are just a formality, no serious intent or visible results.