Pros
The best place for a fresher to learn and grow.. For experienced prof .. Better move out. You get time off for yourself , the timing are flexible.. but that again depends basically on your boss. he may ask u to be in sharp 9 or a better one wud just ask you to deliver well. Learning is good if you get time , you can go for certifications etc and co. will reimburse you if possible. Training are good , the ILP or the Introductory Learning Program is THE best part.. or lemme say .. A honeymoon period , post that you really know the pain thats there in a relationship.
Cons
You are stuck with the same package after level 1 promotion.. for 3 yrs your salary wont just change. On top of that you abilities even thou how good may not be recognized. If your doing your job well no one is gonna bother . However if you stop working , then only u get noticed. The best way to get an onsite/promotion or getting your work done is to threaten them with resignation. Well.. if you get onsite your rating is bound to go down inspite of your work or whatever. All people may not agree to me but then thats is a fact.