Pros

The people I work with are all very professional and the work is very technically challenging. Management is pretty flexible on time and won't micro-mange unless you can't handle your job.

Cons

It's a good ol' boy type job.

Advice to Senior Management

Don't make it a rule to have contractors work indefinitely as contractors. At least offer them something after the first year if you feel they are worth keeping around. Loyalty is a huge benefit from employees. I have none as a contractor.