Pros
Leaders are easy to work with, don't let their egos get in the way of a positive discussion. Generally good work/life balance and ability to independently schedule work. Decent pay - comparisons on Glassdoor seem to be farourable, but it is hard to know if equivalent experience and responsibility levels are expected. Great work (finally) from a the central management of project methodologies.
Cons
Little to no structured for consistent delivery of projects - PMs work independently and don't typically learn from each other or work to develop and build a strong PM practice. Not organized to support project delivery - PMO-level management is focused on delivery instead of focusing on organizing and building a strong PMO and allowing the PMs to focus on delivery. Opportunities exist for advancement, but development outside of doing your job doesn't. Basic pay increments don't keep pace within inflation yet alone provide reward for the experience you build and contribute back year-on-year.