Pros
If you are a fast editor, the pay per word can be quite decent.
Cons
The quality of submissions varies drastically. Some people are not even writing in readable English but the management will insist that you edit the document anyway. Sometimes this does not feel completely ethical as there are times when the editor has to essentially rewrite a large portion of the sentences to be readable. Sometimes these orders take so long that the pay per word is very low. There have been times when I have told management that an order is basically incomprehensible and they will not be helpful, and tell me to just continue editing it even if I have very little idea what the student is saying. Sometimes management is not very helpful when it comes to questions about recurring grammar errors in a customer's order. There have been times when I've made an inquiry about an obscure grammar point I was unsure what to do with and received the reply "Just leave it as it is" or gotten an incorrect answer, which I would then find out was incorrect after doing a lot of my own searching online. It is also difficult with the time difference because editors working in much different time zones cannot communicate with the management as easily.