Pros
Opportunity to learn and practice various disciplines of Software development, project management and support. Attention to detail and making decisions based on data. Often you are pushed out of your comfort zone and when you come out of it you have learned something new and valuable.
Cons
To be successful or even to survive you have to work 'really' hard - that involves working a lot of extra hours. The benefits aren't very generous under the banner of staying frugal. Rewarding isn't imminent. You work hard, earn a few stocks that you can touch only after 2 years. So to reap the benefits of your last year's work, you have to work hard for another 2 years. Promotions happen if you work at your next level's capacity on your current level for a long time without giving up. And finally when you reach the next level, the expectations are even higher. If you don't meet them you are back to your old level.