Pros
Professional Development - A lot is expected from you, so you will develop skills in "trial by fire". Career Promotion - If you have what it takes, you will move into higher positions, which are constantly opening up as those individuals get burnt out or get fired.
Cons
Very low Morale - Many front line employees are frustrated and discouraged with the company. Short Term Decision Making - Most decisions that are made are focused solely on the current budget year's profit or projections. This leads to many of the frustrations that will keep you handling the same issues and problems year after year. Too Many Levels of Management - There are many levels of management that are constantly trying to put their stamp on the company. You will find that when there are several levels of management and divisional specialists above you delegating their tasks and objectives, it will be hard not to either dis-engage or get burnt out trying to keep up.