Pros
Interesting work, got to create new projects from scratch and not just maintaining old ones.
Compensation is around the average, but expect it to stay the same for your entire career.
Frequent company nights out, can get to know colleagues in and out of the office.
Occasionally travel out to customers and seeing your products as they are/will be used.
Cons
Salary will stay the same since it is a risk for such a small company.
Sometimes long hours because of juggling a lot of projects between a few of us and tight deadlines.
Few very experienced staff because of almost static salaries.
Small company environment wasn't for me, but this is a personal preference.