Pros
Money is very good since they pay by the hour and allow for a lot of overtime. You can expect to make easily 30% extra on top of your salary if you want. With OT, it's easy to have an associate 2 making more money than an AVP if s/he is willing to work a lot of hours.
Cons
Spend way too much time doing organization and trying to please clueless clients. Management won't likely stick up for employees and manage expectations effectively with the client. If you don't want to work 45+ hours a week, money is reasonable but not great. Bonuses can be a bit of a disappointment but I think they are fair. If you get bumped to senior associate or officer you lose ability to make overtime and they only throw on a couple of grand at the most to your compensation. Net effective salary will be lower with a higher title.