Pros
Work/life balance is incredible. People treat you like an adult. Meaning, if you have to go to a personal appointment mid-day no one harasses you about it or demands to know where you'll be and when you'll return. No one is clocking your in and out time each day either. The end of year bonus (in March) is great and only gets better the higher your rank. People are generally wonderful to work with and helpful.
Cons
If you are brought in at a lower pay grade you can't outwork it and move up faster. You're stuck. Even if you perform two or three levels above what you're paid they won't correct their mistake. You HAVE to leave. Also there is a huge sense of "not my problem" that exists in every department. People don't want to take responsibility for anything, which means there are a couple people (you'll find each other quickly) who end up doing more than anyone else. Also to get promoted you have to be incredibly nice and completely ineffective. They hate direct, honest people.