Pros
There's a lot of room to build a career for entry-level contractors
Cons
I worked at this company for three years as a full-time employee and then a consultant. When I got the offer from the company, I didn't try to negotiate at all because it was an offer I couldn't refuse. Suitable Technologies was a spinoff of my dream company, Willow Garage, and I had heard that most of the employees had gotten offers at Suitable when it shut down. The former employees that I knew reassured me that it would be a great fit.
What I found out when I started was that almost none of the employees that my contacts had worked with were still around. There was an enormous amount of turnover in my time at the company and immense dissatisfaction with management. I worked hard to do what I could to support the company because I believed in the product and I believed that it could help make the world a better place.
I left the company at the point that a manager scheduled an engineering meeting for the sole purpose of shaming me. In front of three other people I considered to be my friends, they proceeded to rip into me for everything from "suck[ing] all the air out of the room", being just a contractor, and people "bombarding" the company with resumes at my behest.
Even though it came at great personal cost, I did not feel I could continue to support a company which silently condoned or encouraged such disrespectful treatment of its employees or contractors. The manager claimed to speak for upper management and I never received an apology of any sort, although they did thank me for the extensive documentation I put together before I left.