Pros
Small company is flexible without much politics or stifling policies. Work/life balance is fine, but expectations at work can get overwhelming. Chance to work on a number of different projects at client sites.
Cons
Extremely unprofessional in just about every way imaginable. Internal communication is non-existent. No middle level management. Senior level managers are not actually "managers" in the usual sense of the word. Confusion over authority is rampant and leads to inefficient work. Workload is not particularly heavy, yet the work environment can feel extremely stressful due to the bad communication. No true career path (layers of the organization are isolated from each other). No instruction. No empathy. No appreciation. Negative vibes, pessimistic employees. Also, family disputes find their way into the office much too often and employees are dragged in unwillingly. Right now, this is like a place careers go to die. I'd probably rate it lower if I wasn't happy just to have a job in this economy.