Pros
SMS treats everyone as part of the team. No distinction between FTE and Contractors. You can feel you're dealing with a different culture when you get a bag of goods alongside of your work equipment... ahead of your first day. Leadership is very serious about your well-being. They'll push you to work hard and do OT, but they won't punish your for not working long hours if you can't/don't want to. Every single person in the studio is nice and passionate about what they do. I've had devs video calling me just to chat about the game and general stuff. You participate in studio events. You get all PlayStation exclusives plus a few other third party games on release day. There are internal sales when employees can get PlayStation products with big discounts. It's a great studio with a great work environment.
Cons
There aren't a lot of opportunities to become a FTE. But they exist. Long months of OT.
Pros
Great Co-Workers. Managers planned well, making life for the artists easier. Good Pay. Fun/Laid back environment. Pretty good work/life balance for a game company. Get to work on a lot of... cool/different projects.
Cons
Little to no job security. High turn over rate. No benefits unless you're hired full time. Most people(including managers and higher ups) can work here for years and still not be hired full time. ... Majority of workers are hired as "contractors" but are treated as employees without the perks.