Pros
Nothing. If you are lucky you might get a cutting edge project (like LTE or IMS).
Cons
Everything. Package, below market... Bad policies. (Most of the times tailored to deceive and affect the employee negatively.) For example:- 1> You finish your financial year (April to March), so you should be eligible for the yearly bonus. But if you resign before the bonus comes to your account ( in May salary), then you won't receive your bonus. Company will eat it out. 2> You finish your financial year (April to March), hence you are eligible to your appraisal. But you'd receive the appraisal mail (No appraisal letter, just mail from your manager.) in June. And the appraisal will be effective from June/July (When it should be affective from April). 3> No reimbursement of PLs allowed except while leaving the company. 4> When you resign, you have to pay notice buyout in terms of Basic+FBP. But Priviledge leaves can be reimbursed in terms of Basic only. (If you have 30 PLs and want to buyout 30 days, it is not allowed. you will still have to pay 30 days' FBP.) These are a few examples of policies that are currently in action. Besides, Policies changes every fortnight, to facilitate the managers (or Employer). Never I have seen one policy changed for the advantage of employee.