Pros

Some very interesting projects, and very interesting people to learn from and work with. Nice chance to see the world and travel extensively if that's your thing. Apparently more collegial and less cutt-throat than other consultancies, from what I've heard.

Cons

Very difficult to have a personal social life as the hours were extensive (60-80+). You don't get paid enough to sacrifice your soul! Also slightly less prestige, lower compensation and perks associated with Monitor than with other competitors (esp. McK, Bain and BCG).

Advice to Senior Management

Care about your people. They are your biggest asset. And don't give so many jobs to the children of important clients or friends, as they don't always pull their weight on case teams.